PETRONAS spent about RM4b to build PETRONAS Twin Tower and KLCC in 1994. Fast forward 20 years, KL118 will cost PNB about RM3-4B.... After accounting for inflation etc.. the scale and impact of KL118.. maybe just 30-40% of KLCC.

When we refer to commercial area, it is not just about the tallest building but also the symbiosis and network. KLCC is not just about park and mall but congregation of MNCs, banks, hotels, restaurants, hospital etc. The mall not only relies on workers from PTT but the surrounding offices as well.

It will be interesting to see how KL118 can overtake KLCC in 10years down the road. Aside of tallest building in Malaysia, park and mall (3malls in this pudu alone) I do not see any wow factor. And for mall, I do not think they can be better than Mitsui's in BBCC.

In fact I am more optimistic that TRX or BM will take the shine from KLCC rather than this KL118. But that may only happen in 10years after major portion of the masterplan materialized.

This post has been edited by gks: Dec 8 2016, 02:23 PM

Long holding power is required for Opus if they are hedging on PNB118. Timing of completion is quite off... With expected completion 2020 and another 2years for occupancy to pick up... Need to hold at least 3-4years. And given the story state of monorail service, I do not think many would like to stay here and commute elsewhere just for monorail factor

I think completion of and full operation of PNB118 will have minimal impact to Opus subsale and rental demand. There are plenty of accomodation which way better located than Opus around PNB118. Not only that with MRT, the workers better stay in places Cheras, Maluri etc which has more amenities and cheaper rental than Opus.

The most important is aside local companies such as Maybank that already committed to move, any MNCs will set a their base in PNB118. MNCs are generally recruit regional Expatriates which are more willing to pay higher rental. In any cases, these expatriates probably more interested to stay around Bukit Bintang, BBCC TRX instead of Opus.

My 2 cents.

The proof is at the pudding. I believe at the moment expatriates with higher budget prefer area around klcc/Bukit Bintang rather than Pudu/PS. Currently Lucentia@BBCC command highest rental rate amongst all condos in Pudu/PS. Any expatriates that work in PNB118 will take Lucentia as preferred accommodation instead of Opus. For ppl who stay in KLCC, they usually go to Pavilion for pubs.

Speak about Kuen Cheng, if the appeal is so great amongst chinese families, why Opus is struggling given that they are the only condo in the near vicinity? Furthermore only like 350 units in whole development.

That's new for me. Expatriates.choose their accommodation based on pubs.

I am sure you have your own experience and criterias to choose investment properties. Well if that's how you invest a property, all the best.