A Closer Look at the Greater Kuala Lumpur Property Market

A Closer Look at the Greater Kuala Lumpur Property Market

As Malaysia’s primary economic engine, Kuala Lumpur and its environs exert a strong influence on the rest of the country and remain a key attraction for property investors. Here, an industry insider looks at the realities of today’s market in Greater Kuala Lumpur. Beginning at the muddy confluence of the Gombak and Klang rivers as a tin mine settlement in the mid- 1800s, Kuala Lumpur has blossomed into a bustling metropolis, teeming with an international population. Today, Kuala Lumpur is Malaysia’s largest city and conjoined with its surrounding areas, is known as Greater Kuala Lumpur (GKL). It is only natural that GKL sets the benchmark for property prices and innovation. Pioneering ideas like managed service apartments, ultra-luxurious branded apartments, and lifestyle properties, developers in GKL consistently push the boundaries of property development, paving the way for other areas. In the future, Iskandar Region in Johor may parallel GKL, but for now, GKL is the protagonist in the property play. In the last few years, Malaysia’s property market has come under intense scrutiny. East Malaysia, GKL, Penang, and Iskandar Region in particular have seen price disparity grow to alarming levels. In Merdeka Center’s 2012 National Public Opinion Survey, providing an affordable housing scheme to the people was a close third amongst nine issues that Malaysians expected of the government. People’s sentiment, new policies, and the dynamics of the economy at large promise an interesting year in 2015 for the property market in GKL. A Quick Look at GKL Before diving into the thick of the matter, it would be important to appreciate the concept of GKL. Greater Kuala Lumpur is...
Groundbreaking ceremony held for Agile Mont Kiara

Groundbreaking ceremony held for Agile Mont Kiara

Agile Property Holdings Limited, one of China’s leading property developer says the timing of its entrance into the Malaysian property market could not have been better. The Hong Kong- listed mega developer finds the local property market still attractive, especially Kuala Lumpur with the recent weakening of the ringgit. “Kuala Lumpur is already very attractive with its impressive infrastructure. If you are looking from the outside the property market here is now even more attractive with the weakening of the ringgit, “said Agile Real Estate (M) Sdn Bhd chief executive officer Wilson Ren. Agile through its local subsidiary Agile Real Estate is developing Agile Mont Kiara in a 70:30 joint venture with PJ Development Holdings Berhad. Located at the matured and affluent international township of Mont Kiara, the development is strategically located close to many amenities including Publika, a popular upscale neighbourhood shopping mall. Agile Mont Kiara which has a gross development value of RM1.4 billion will be built on a freehold residential land area of 10.16 acres. The entire development consists of a total of 11 blocks of condominiums with a mixture of low rise, medium rise and high rise. A total of 813 partially furnished units comprise 2+1 bedroom, 3 bedroom, 3+1 bedroom and 2 dual keys units will be offered. Expected completion date is September 2018. At the ground breaking ceremony of the project here today, CEO Ren said in his speech the location of Agile’s maiden project at Mont Kiara, will allow the company to showcase Agile’s passion not only for development of quality homes but also a quality living environment. In this respect, a...
Shopping in Mont Kiara? – Check out 1 Mont Kiara

Shopping in Mont Kiara? – Check out 1 Mont Kiara

1 Mont Kiara is a shopping mall and integrated development located in the prestigious Mont Kiara precinct. The mall has a 6,000 square feet piazza at the entrance that is brought alive by the penetration of natural light through the special ETFE roofing. The Village Grocer together with a host of other well-known businesses such as Fitness First Platinum, Harvey Norman, iStudy, Sushi Zanmai can be found there. Find out more...