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Redevelopment potential of Bangsar
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By Racheal Lee of theedgeproperty.com
Friday, 22 January 2010 16:54 Bookmark and Share

KUALA LUMPUR: As prime development land become more scarce by the day, property developers in Klang Valley are seeking out pockets of land which are undeveloped or are ripe for redevelopment.

Among these pockets are at the Jalan Riong/Jalan Liku area in Kuala Lumpur’s Bangsar, including what is dubbed the “Unilever land”, as well as the sites of the New Straits Times Press (NSTP) and China Press headquarters.

Rumours abound over what will be done with what is dubbed the “Unilever land” in Jalan Bangsar, Kuala Lumpur. Bus station, office towers, hotels and even a shopping mall are bandied about for the vacant plot, where the Unilever headquarters and factory once sat.

It is learnt that the owner of this “Unilever land” – the Railway Asset Corporation – is in advanced negotiations with several government-linked agencies to dispose the land.

Property consultants also do not rule out the redevelopment possibility of the NSTP site on Jalan Riong, following recent news reports that the management is open to proposals to generate higher revenue from the properties it owns, including those in Bangsar.

Rumours are also rife that the China Press headquarters, located beside the NSTP headquarters, will be moved to Nanyang Press Holdings’ headquarters along the Federal Highway in Petaling Jaya and many developers are eyeing the site for possible joint venture developments.

Read the full story in the City & Country property pullout of The Edge Malaysia, Jan 25, 2010 issue.

 

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