I am lazy. Yawn.

Do your own research ... Yawn...

http://www.thestar.com.my/business/busines...-jalil-project/

PETALING JAYA: The Employees Provident Fund (EPF) has proposed to take up a 80% stake in one of the three parcels of land that Malaysian Resources Corp Bhd (MRCB) would receive from the Government when it completes the refurbishment and upgrading facilities at the National Sports Complex (NSC) in Bukit Jalil under the privatisation agreement with the Government.

MRCB said in an announcement that the EPF would be paying a total of RM421mil for an 80% stake in 28.13 acres, which is part of the 92.51 acres that MRCB would get in exchange for refurbishing and upgrading the stadium and its surrounding facilities in a privatisation deal worth RM1.6bil.

The remaining 20% stake would be held by MRCB.

Under the original terms of the privatisation agreement that was sealed in October last year, MRCB had a 85% stake in the whole privatisation project, while Rasma Contractors Sdn Bhd had the remaining 15% in the entire project.

In the latest proposed deal, the EPF would hold 80% with MRCB’s stake being 20% in the development of the portion of land measuring 28.13 acres only.

Based on the announcement, there is no mention of Rasma Construction in the development of that particular portion.

MRCB explained that the EPF would settle the payment of the land in two tranches and when all conditions are met. The first would involve RM397mil valuing the land at RM405 per sq ft (psf), while the second payment would amount to RM24.5mil or an additional RM25 psf when all conditions are met and approvals are obtained.

“The deal can only be completed two years down the road when MRCB actually gets possession of the land after the first phase of the refurbishment and upgrading works are completed.

“MRCB also has to fulfil all conditions such as getting the development order and plot ratio,” said a merchant banker familiar with the transaction.

Among the conditions that MRCB has to fulfil are to get a plot ratio of not less than 1:6.5 and all necessary approvals from the authorities.

“Prior to the signing of the agreements, MRCB shall provide the EPF with a full market study report and a business plan, including a timeline for the development of the land,” MRCB said.

“The agreements shall be subject to the EPF being satisfied with the results of their due diligence,” the company added.

Under the proposed agreement with the EPF, MRCB would be appointed as the main contractor for the development of the land.

In the privatisation agreement, MRCB under the first phase is required to upgrade the main stadium, the aquatic centre, the hockey stadium and other facilities such as lighting.

The cost is estimated at RM499mil. Upon completion of the first phase of the project, MRCB would get the first parcel of land measuring 28.13 acres.

The park condo facing bj park look very good. The view must be damn good.

IMU hospital on the way.
Tzu chi international school on the way.
Why no convenient route to airport leh? i thought mex highway will bring you straight to KLIA...
Vista kommanwel used to have many MAS stewardess... now i dont know. I used to rent out a house to MAS stewardess in 2005-7
I thought got IMU/APITT?

Airbnb good also mah

If you wnat mall Park int school lrt station hospital all within walking distance very demanding je

Where to find woh...

Big aeon subang parade hahahaha... Okok got it.

I didn't say bj amenities is walkable. I just want to stress the point you don't need to have a hospital within walkable distance. And the park not meant for college students anyway.

I am not a proud onwer of the park and I wish they all the best.

Pic pls....

now i got a bit of time to do some research on Lot 15.

wow the TNB station is gigantic and just right next to the development site. The station is even bigger than the Lot 15 itself.

It seems that the 2 nearby malls are in ICU condition....

and the whole thing is not integrated.

I am not sure.

Are you sure pavilion bj will be another Da men?

This post has been edited by Cocoon: Jan 1 2020, 04:26 PM

I like your imagination.

You are cute.

Flaw in your statement. U didn't consider the "game changer" factor.

This post has been edited by Cocoon: Jan 1 2020, 06:29 PM

I am not the onwer of park or park 2 but I also find it hard to accept your imagination hahahaha...

The Park Sky Residence Ushers In New Year
Posted on 03 Jan 2020
by Viktor Chong
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Pavilion elevates Bukit Jalil City to a new level

An artist impression of Bukit Jalil City. The mall which will open its doors next year will bring vibrancy to the development.An artist impression of Bukit Jalil City. The mall which will open its doors next year will bring vibrancy to the development.
This year saw several major developments that have escalated the RM4bil Bukit Jalil City to a whole new level, creating much excitement for its iconic Pavilion Bukit Jalil shopping mall and elevating the status of its brand.

The most recent was the Dec 13 delivery of vacant possession for 1,098 condominium units of The Park Sky Residence, which is phase one of the residential component that was completed ahead of schedule.

This will increase the population of Bukit Jalil as families start to move in, in time to usher in the start of 2020. The area has always been associated with youth, vigour and dynamism since the 1998 Commonwealth Games. Chinese homeowners will be able to commemorate the Chinese New Year and usher in the new zodiac animal – the rat which is believed to bring in a better year for the property market.

Bukit Jalil City, an iconic development with an estimated gross development value of RM4bil, is spread over 50 acres of freehold land. At the heart of this development is Pavilion Bukit Jalil shopping mall, which is located next to The Park Sky Residence. The mall is already in advance stages of construction and is set to open in May 2021.

Residents will enjoy excellent connectivity via a network of highways including KESAS, MEX and the newly expanded Bukit Jalil Highway. Malton Bhd (Malton) has also completed the 100ft dual carriage road leading directly in and out of Bukit Jalil City while the construction of an underpass and four pedestrian bridges to enhance the connectivity of this growing township are ongoing.

Largest Sky Gym

Experience breathtaking views of the 80-acre recreational park at the Sky Gym.Experience breathtaking views of the 80-acre recreational park at the Sky Gym.
The Park Sky Residence which fronts the 80-acre Bukit Jalil Park boasts a luxurious tropical oasis, a landscaped jewel in Bukit Jalil showcasing natural landscape forms, shaping the dynamic quality of residents lifestyles.

Exquisitely landscaped gardens complement the outdoors, providing a sensory escape and shaded relief, like the organically shaped pools, breezy pavilions, spa pools, meditative gardens, irresistible water play and trees, mirage ponds and organic stepping stones.

Residents will experience a different character of gardens from a health and well-being environment of zen gardens, and spa pools to an active landscape where families can gather, play, exercise or even take a quick nap.

The Park Sky Residence has one of the largest and fully equipped resident gyms in Kuala Lumpur, measuring 9,000 sq ft of space, which is furnished with the latest Technogym Omnia range of equipment. Residents will get to enjoy a comprehensive and diverse choice of gym facilities with a breathtaking view of the lush 80-acre Bukit Jalil Park.

Foreign investment

The Lily Pond offers residents a tranquil place to relax.The Lily Pond offers residents a tranquil place to relax.
Integrated property developer Malton’s announcement on the participation of Qatar Investment Authority (QIA) in the ownership of the regional shopping mall has also added to the confidence in the project.

The Malton’s wholly-owned subsidiary Khuan Choo Realty Sdn Bhd, QIA’s wholly-owned subsidiary Q PBJ Sdn Bhd, and Tan Sri Desmond Lim via his private vehicle Jelang Tegas Sdn Bhd have inked a Subscription Agreement on May 28 last year, with special purpose vehicle Regal Path Sdn Bhd to partake in the ownership of Pavilion Bukit Jalil mall.

“We are very happy to have QIA on-board and their participation in the Pavilion Bukit Jalil mall project is indeed a testimony of QIA’s confidence not just in the projects managed under the ‘Pavilion’ brand, but Malaysia as a stable and high-potential investment destination,” said Lim, who serves as the non-executive chairman and the major shareholder of Malton.

Tapping into the retail expertise of retail management team from Pavilion KL, an award-winning and Malaysia’s most successful mall, the Bukit Jalil version will feature a good mix of retailers to attract a steady pool of local and international visitors.

With an estimated net lettable area of 1.8 million sq ft, Pavilion Bukit Jalil shopping mall will be among the country’s top 10 largest regional shopping hubs. This integrated development will rejuvenate Bukit Jalil into a vibrant destination for business, best-in-class shopping experience, dining, leisure and entertainment hub to both locals and tourists alike.

Secured tenants

To date, the mall has secured confirmed tenants for over one million sq ft. Anchor tenants include Parkson, Dadi Cinema, Food Republic, The Food Merchant, Harvey Norman superstore, Pavilion Bukit Jalil Ice Rink and a host of specialty stores, food and beverage outlets, leisure and entertainment attractions.

This will be good for The Park Sky Residence, which is bringing in a new community of residents to Bukit Jalil. The development is sited on 7.3 acres of freehold land near the Pavilion Bukit Jalil mall.

Pavilion privileges

Additional advantages of this project include Pavilion Privileges, a loyalty programme to indulge in a host of shopping, dining, and pampering privileges at Pavilion Kuala Lumpur. Residents of The Park Sky Residence and The Park 2 can register as members free of charge.

Members will be able to enjoy the Pavilion experience and will receive special privileges from participating tenants, invitations to launches and events, updates on new store openings and exclusive rewards. And once Pavilion Bukit Jalil regional mall opens its door, the loyalty programme will be extended to its tenants and members will be able to enjoy Pavilion Privileges at both malls.