YNH would have received RM1.eighty four billion in complete proceeds, but in December 2009, the KFH sale fell via as a result of international financial disaster. The new owner, Permodalan Nasional Bhd intends to refurbish and convert the 35-storey former Malaysia Airlines Building in Jalan Sultan Ismail into a ‘Grade A++’ international-class corporate office tower. The multi-level podium adjacent to it is going to be demolished to make means for a new 50-storey Green Building Index-compliant international luxury lodge residences tower. The hotel has been rumoured to include seven-hundred rooms doubtlessly turning into Malaysia’s largest highrise hotel.
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Far East Organization is at present redeveloping Plaza Atrium into serviced residences opposite KL Tower. Maju LINQ, certainly one of Kuala Lumpur’s newest mega-commercial centre, is an built-in improvement built on four acres of prime location in a matured township. Once accomplished in 2012, Maju Linq would comprise 1 unit of 29-storey tower block and 6 models of 6 and 7-storey workplace blocks which can embody tenants such as a new Tune Hotel.
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However by late 2011, Mah Sing has filed legal motion against Asie with reference to a dispute of settlement. In early 2014, Kuala Lumpur City Hall started demolishment of the remaining old flat blocks. A prestigious growth of 4 40-storey luxurious residences – Alia, Boheme, Celeste and Divina, that may mark the debut of Malaysia’s leading property developer, S P Setia Bhd into Downtown KL’s buoyant property market. After several false starts, there are some indicators that plans to redevelop the 110-year old predominantly Malay reserve land could finally come to fruition.