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Klang Valley continues to lure property buyers
Aug 22, 2012
Demand for properties within the Klang Valley from foreign and domestic buyers is expected to continue despite high land prices, according to real estate consultants via a report by The Star.
Tang Chee Meng, Chief Operating Officer of Henry Butcher Marketing Sdn Bhd, said local interest is very strong and the company has been receiving many enquiries from Chinese developers who are looking for land.
"The demand for land for development continues to be buoyant," he noted. For instance, the recent sale of a 28,000 sq ft property at Jalan Ampang is a good indication.
He also revealed that the recent tender of Wisma Char Yong and its nearby plots had generated many queries from developers and other companies.
Wisma Char Yong, the16-storey building that was previously occupied by Citibank, is up for sale together with three vacant lots and three land parcels that are presently occupied by pre-war shophouses.
The building sits on a 60-year leasehold land that will expire in October 2071, while the vacant lots and the land with pre-war shophouses are free-hold properties.
Wisma Char Yong, which sits on a 16,000 sq ft land, features a three-level car park, a basement and a net lettable area of 150,000 sq ft. On the other hand, the six land plots have a combined size of 12,000 sq ft.
The building and the six lots are up for sale as one asset, with the indicated price ranging from RM40 million to RM50 million, said Tang, adding that land prices in the area are between RM800 and RM1,000 psf.