So... the day has come. Today, we received the Letter of Acceptance for the redevelopment of the Dang Wangi LRT station. =) In our announcement today, we mentioned about some of the salient terms of the LA, including the method of execution of the Development - via a Joint Land Development Agreement, and Prasarana will be entitled to 21.2% of the total GDV, amounting to about RM 220million. Working backwards - that makes the GDV about RM1.04 billion. The Development is a mixed commercial development, comprising a retail mall, upscale premium serviced residential suites, some hotel suites and office suites.
The 2.72 acres site has direct frontage of Jalan Ampang, as well as the Bukit Nanas forest reserve/green lung. With over 1 million sq ft in Gross Floor Area, the Development is expected to be at least 40 storeys high, of which some levels will be double volume to allow for the duplex SOFO units. I cant tell too much of the project here - but lets just say, this is the start of more exciting things to come! =)
This is the earlier drafts of how the Development may look like.
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