Freehold site in Kuala Lumpur with hotel redevelopment potential for sale at RM65 mil

The location is situated in a prime place throughout Kuala Lumpur’s Golden Triangle, that includes the city’s economic hub as well as its primary purchasing and night life sectors. This place extends from the junctions of Jalan Raja Chulan and Jalan Tun Perak in the southwest to Jalan Bukit Bintang and Jalan Tun Razak in the eastern and Jalan Yap Kwan Seng and Jalan Tun Razak in the northeast. It is additionally close to major commercial areas and vacationer destinations. It is less than 2km from Suria KLCC, one of Kuala Lumpur’s noticeable shopping malls, and simply 900m from Pavilion Kuala Lumpur, a premier luxury retail area.

An estate business place on 290 Jalan Raja Chulan in Kuala Lumpur, Malaysia, has already been offered at RM65 million, or about $20 million. With an acreage of 20,309 sq ft, this calculates to approximately RM3201 psf ($ 985 psf).

Logically positioned inside a business workplace area, the site is situated between two office buildings, Wisma Goldhill and Wisma MPL. Numerous hotels are located close by, including the Holiday Inn Express Kuala Lumpur City Centre across the road and Parkroyal Serviced Suites Kuala Lumpur.

Hon adds that the site already has interested operators wanting to take care of the resort. “If the site is approved for hotels and resort redevelopment, the future proprietor can be connected with hospitality operators who are reputable in the market and have actually displayed interest in regulating it.”

The location’s distance to business and vacationer attractions makes it excellent for hotel redevelopment, appealing to both business travellers and tourists, states Hon. With a plot ratio of 8, he predicts that the future hotel could suit up to 252 rooms, with lobby and facilities across 35 storeys and a basement, pending approval from the relevant authorities.

The Changkat Bukit Bintang region, a dynamic entertainment area in Kuala Lumpur, is simply a rock’s toss from the site. This area brings in a different range of people, from locals to vacationers, with its blend of modern stylish and historical charm. The network of streets and roads features columns of pre-war buildings transformed right into upscale pubs and dining establishments.

Nearby, the popular Jalan Alor Food Road lies less than 500m from the Changkat Bukit Bintang area. This vibrant night market includes rows of outside food stalls and restaurants, offering a different mix of local and international cuisines.

19 Nassim condominium

With its strategic location, redevelopment capability and the possibility to affiliate with experienced lodging operators, the site presents a prime investment chance to capitalise on Kuala Lumpur’s tourism market in among its most promising locations.

The site presents an excellent opportunity for investors, especially Singaporean investors that are seeking to endeavor into the Kuala Lumpur hospitality market due to the favourable currency exchange rate and fairly reduced entry price, he continues. “With a total investment of less than RM200 million ($ 60 million)– considering land acquisition and development costs– investors can establish a high-quality resort in a desired area.”

The regular-shaped location is being utilized as a carpark. The proprietors are putting the property up for sale as they reassess their portfolio, mentions Hon Kah Yick, vice president of Master Real Estate, who is marketing the property.


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