Kompleks Sukan PKNS to be redeveloped
By Racheal Lee of theedgeproperty.com
Friday, 28 January 2011 18:48
http://www.theedgeproperty.com/news-a-view...edeveloped.html


KUALA LUMPUR: Kompleks Sukan PKNS in Kelana Jaya, Selangor will be redeveloped jointly by Melati Ehsan Holdings Bhd and PKNS Holdings Sdn Bhd into a RM1.623 billion mixed commercial development.

In a filing to Bursa Malaysia on Friday, Jan 28, Melati Ehsan said its unit Bayu Melati Sdn Bhd had on the same day entered into a joint venture agreement for the proposed proposed development of three pieces of freehold commercial lands, collectively having a land area of 75,473 sq m, with the sports complex on it.

"The proposed development entails the construction, completion and sale of two blocks of serviced apartments, a block of SoHo offices, a sports complex, two blocks of office tower, a shopping mall, a hotel, a performing arts centre and car park lots on the land, together with infrastructure and landscaping to be carried out by Bayu Melati in accordance with the terms and conditions of the joint venture agreement," it added.

The gross costs value of the development is estimated at RM1.07 billion subject to changes as bayu Melati may propose improvements to the building and layout plans, design, building works and other features of the development.

The project will be funded by Melati Ehsan's internally generated funds and/or borrowings.

"As consideration to PKNS Holdings for the land, Bayu Melati shall pay to PKNS Holdings out of its own financial resources and/or financing, 70% of the total projected gross profits from the actual sales value of the development as determined by the terms of the joint venture agreement or RM387 million, whichever is higher and the surrender of the sports complex and performing arts centre upon completion.

"The proposed joint venture is an excellent opportunity for Melati Ehsan to embark on a new mixed commercial development to capitalise on the existing demand for such properties within the popular Kelana Jaya area where it does not possess any land bank. The track record and corporate image of the joint venture partner and its holding company is expected to enhance the saleability of the properties in the development project. It is expected to contribute to the medium and long term profitability of the group," it noted.

This post has been edited by accetera: Jul 15 2013, 08:12 PM

Any extra news about road access? After VP addtional 30 minutes drive home

Proposed rendering 1

Looks so freakin awesome! So near to my condo as well. Me stay at sterling condo.

good for u then, sterling is gona sky rocket again

Imagine the noise, pollution n jam plus crowd everytime theres a football or sports event...i think there a football match every week at the current stadium

Cloner.. with the new Paradigm. Icon City. and now this..
i am pretty sure all condos, house nearby prices gonna boom
in few years.

the things is, now asking price for all condos and houses here at kelana jaya area also so damn expensive already.

---------

brother love. i guess we here at SS 7 area use to it already.
currently there's MBPJ stadium almost every week got event.

but the development definitely will effects more and more jam later.

the news is on january 2011.is this project on?

i dont see anything happen there.
still the same.

i heard residence surrounding that area is not happy with the plan.

New Look >>> DATUM SPORTS CITY @ KELANA JAYA
http://www.pknsproperty.com/datum.html

More brownfield developments from the same developer...

Affordable house by DAP?

in our dreams it will be affordable... coz these places are currently low cost housing that will soon be kicked out lol

can register now? lol

Still no news on this project...

HAHAHAH NICE ONE. SOKONG PAKATAN LAGI!!

Not sure if this the one:


PINTARAS Wins RM 24 mil Construction Job
Dec 19, 2013

KUALA LUMPUR (Dec 19): Pintaras Jaya Bhd has secured a piling and basement construction job worth RM24 million. The project is for a proposed apartment project within the Kelana Jaya area in Petaling Jaya, Selangor.

In a statement to Bursa Malaysia, Pintaras said its wholly-owned unit Pintaras Geotechnics Sdn Bhd has today received the project's letter of acceptance from Datumcorp International Sdn Bhd.

"The said contract is expected to contribute positively to PJB Group's (Pintaras) future earnings, said Pintaras.

It said work is expected to commence in January next year with a completion period of 12 months.

http://www.theedgemalaysia.com/business-ne...uction-job.html

The project has been cancelled as the appliaction was not done according to law:

http://www.thestar.com.my/story.aspx?file=...507&sec=central

http://www.niknazmi.com/wordpress/?p=3279

blimey..was looking forward for this development