The Proposed Site is nestling between JALAN GASING and JALAN TEMPLER in a cluster of neighboring development consisting of mainly low rise low density residential and commercial. The brief history is that the land is gazetted as low density residential enclave in accordance to the MBPJ local plan due to expire in 2010. As at to date, the land owner wish to repeal the status of the land to commercial in view of the neighboring commercial enclave is of most suited for the site. The current lots as mentioned is HSD 16678, PT 320 and HSD 16679, PT 321 Daerah Petaling, Keluasan 7.5 Ekar, FreeHold, Expressed Conditions: Building.
A search was done in MBPJ. Currently gazetted as low density residential. In progress of change of landuse from residential to commercial.
KUALA LUMPUR: MAGNA PRIMA BHD is acquiring two pieces of land, totalling 28,148 sq metres in Petaling Garden from Petaling Garden Sdn Bhd for RM48.48 million.Magna Prima said the first piece of land was 16,790.363 sq. metres (180,736 sq. ft) and the second piece, measuring 11,358 sq. metres (122,260 sq. ft) together with a row of 15 single storey lock-up shops at Jalan 5/44 Petaling Garden.
It said the total purchase consideration of the PROPERTIES was RM48.48 million or RM160 per sq ft.
Magna Prima said the properties were for future development purposes.
It added the proposed acquisition would increase its land bank and was in line with the group’s corporate strategy to develop strategically-located land in high-density areas, with easy accessibility and significant gross development value, for the development of lifestyle-themed projects within a short turnaround time...
The business development approach the group is undertaking build upon the following principles:- Integrated Commercial Development with High Rental Yield for the commercial spaces inclusive of building and services management. Business and Shoppers Friendly. In line with the call for corporate social responsibility, the group undertook to provide an environmental friendly urban design approach maximizing on plot ratio and building height yet able to provide sufficient green lungs and urban design for the pedestrian and handicapped alike. Modern contemporary sophistication outlook.
The Vertical Zoning is ear marked as the followings: - Shop Offices Mall Subterranean Mall Plaza The development data is meant to be a condition precedent, the layout, however is subject to further deliberation.
