no info on mahsing website yet ... wonder when they will open for registration

Tamansari: A new chapter in KL's development
Aug 15, 2011

The RM9 billion Tamansari Riverside Garden City development in Kuala Lumpur may rejuvenate Malaysia’s urban regeneration projects.

The development of Subang Jaya was the first regeneration project in the country. Located in Selangor, the regeneration project was initiated by the late Prime Minister Tun Abdul Razak in the 1960s.

Meanwhile, the move to regenerate the Pekeliling flats, now known as Tamansari, along Jalan Tun Razak-Jalan Pahang, was initiated by Tun Abdul Razak in the 1970s. The flats were among KL’s earliest public housing projects, established back in 1967.

“We believe Tamansari will stir interest among developers to start a new chapter in real estate development,” said Datuk Khalil Asahah, Founder of Tamansari developer Asie Sdn Bhd.

He said developers steer away from regeneration projects due to the work and investment needed for land clearing, demolition and the relocation of people.

“It is difficult to get support from banks and that is why urban regeneration projects in Malaysia cannot move forward. We went through many difficulties but have overcome them today,” he commented in a recent interview with The Business Times.

Asie has secured the rights and approval to construct commercial and residential properties on the 23ha land plot at Tamansari. The privatisation agreement in 1999 with the government paved the way for the construction of 3,500 public housing units and facilities in exchange for the land. Asie has so far turned over 3,000 units by the end of 2006.

“After 30 years of waiting, we have cleared 30 per cent of the land and awarded Mah Sing a contract to build properties for RM900 million,” Datuk Khalil said.

The developer is expected to award two more contracts before the end of the year to build properties valued at a minimum of RM1 billion.

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