Malton Bhd , the developer behind the high-end Pavillon shopping complex, has yesterday unveiled the final tower located next to soon to open Pavilion Bukit Jalil City.
The Tower 2 is facing an early release from its intended date after a successful sellout of Tower 1 which has sold out only within the span of a few months. Shrewd buyers now have one last opportunity to secure a property on this iconic integrated development with the final release of 324 luxury unit of apartments, a joint-collaboration with the award-winning Pavilion Kuala Lumpur.
CEO of Kuala Lumpur Pavilion Sdn Bhd, Datuk Joyce Yap says the final launch of The Park 2 marks an inspiring milestone for the Pavilion retail group as we move yet another step closer towards providing a holistic experience in edutainment and retailtainment to both local and international visitors alike. The move will ultimately set Bukit Jalil apart as one of the country’s major retail and tourist destinations. With its net lettable area (‘’NLA’’) of approximately 1.8 million sq ft, Bukit Jalil is poised to be a regional mall in terms of brands mix, flagship stores and concept.
“We anticipate bringing in at least 10% to 20% of new brands and new concepts to excite the market when the mall is unveiled to the public,” she added.
The Malaysian Minister of Federal Territories, Datuk Seri Utama Tengku Adnan bin Tengku Mansor, said; “Once completed by 2020, the regional Pavilion Bukit Jalil shopping mall and offices will provide thousands of new employment opportunities whereby Bukit Jalil’s population and employment are projected to increase by approximately 24.2% and 51.6% to 464,300 and 273,121 respectively from 2000.
He added a project such as Bukit Jalil City by Malton and the Pavilion Group is another positive step forward for Kuala Lumpur and the Rakyat. He believes that we are on the right track towards advancing Kuala Lumpur as a World Class City and the region’s premier hub for business, leisure and living.
Malton executive director Hong Lay Chuan expected both towers to be sold out by year-end. Sitting on freehold land, The Park 2 has an estimated GDV of RM720mil and comprised 709 units of serviced apartments, with the first tower having 385 units and the second tower 324 units. The first tower of The Park 2 was launched in March and has a take-up rate of over 90%. About 70% of the second tower has been snapped up by buyers. The units start from RM630, 000.
Bukit Jalil City consists of Pavilion Bukit Jalil regional shopping mall, the Signature Shop Offices, The Park Sky Residence, Park Point Shop Office and The Park 2. Also completed are the 112 units of the Signature Shop Offices (Phase 1) which were handed over to the shop owners in June this year while the entire development will be completed by 2021.