Pavilion 2 mall to surpass Pavilion KL Jul 1, 2013 - Farah Wahida Ho Hup Construction Co Bhd is all geared to be profitable this year, and could reverse eight years of losses thanks to a deal inked with Malton Bhd to co-develop its 24.28ha land in Bukit Jalil. According to market talk, Malton is developing properties there, including a regional mall known as Pavilion 2. With two million sq ft of net lettable area (NLA), it is more gargantuan than the 1.32 million sq ft Pavilion KL. At present, Malton is still seeking government approval for the 20.23ha land portion it is entitled to. Nonetheless, the authorities have approved a plot ratio of four, as well as nine to 10 million sq ft (NLA) for the entire freehold project. Malton is expected to roll-out its launches in Q1 2014. On the other hand, Ho Hup has secured the development order for its 4.05ha land last February. The initial launches of shop offices on its land portion were warmly received, with 90 percent of the units already sold, which translates to RM260 million in sales, according to its Executive Director Derek Wong. Moreover, Ho Hup’s 4.05ha land is divided into Parcel A, a 2.38ha mixed-use project featuring offices, a hybrid shopping mall and apartments on top of that mall, and Parcel B, which is entirely residential, comprising 15- to 18-storey condominium, with unit sizes ranging from 600 sq ft to 1,000 sq ft. Set to be unveiled in Q1 2014, Parcel B has an estimated gross development value of nearly RM400 million, added Wong.
Posted on: Tue, 02 Jul 2013 02:14:49 +0000
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