Last June, we saw construction work for the much-anticipated world-class integrated development, Bukit Bintang City Centre (BBCC), begin bringing it a step closer to becoming KL’s iconic lifestyle and architectural landmark.
Like many property investors in Singapore, BBCC is one of the few projects which I have been looking forward to. For those of you who are hearing about it for the first time, here are some things to take note of:
The People Behind It
Before I do a deep dive into the location or the project itself, BBCC is essentially a joint venture between Malaysia’s top developer, EcoWorld Development Group Bhd, UDA Holdings Berhad and the Employees Provident Fund (EPF), the CPF of Malaysia.
It also involves many other established international partners. One of which is Japan’s largest real estate conglomerate, Mitsui Fudosan, who will see the development of an integrated 1.4 million sqft hybrid mall combining indoor and outdoor lifestyle streets with high-end brands and F&B outlets under its Mitsui Shopping Park Lalaport brand. In collaboration with Zepp Hall Network, a unit under Sony Music, BBCC will host the development of KL’s first ever Zepp Live Hall as part of the BBCC Entertainment Hub. Separately, Canopy by Hilton will also be managing the 4-Star Hotel within BBCC.
Adding to the list of brand names, master planner of this exquisite development is Jerde Partnership, the internationally renowned architecture and urban planning firm which planned numerous landmark developments including Roppongi Hills in Tokyo, Palms Place in Las Vegas and Santa Monica Place in Santa Monica.
The Concept – A World-Class Integrated Development
What is an Integrated Development? Most people typically describe Integrated Developments as “a residential building plus a shopping centre and office towers”
But even as an Integrated Development, BBCC is of a different scale altogether and was named a “significant national level and world class development” by the Malaysian Prime Minister.
BBCC sits on a land size of 19.4 acres (845,064 sq ft) which will includes the development of modern residential suites, a large retail mall named Mitsui Shopping Park Lalaport, 2 hotels, strata offices and an entertainment hub. The entertainment will constitute of the Malaysia Grand Bazaar, Cineplex, Banquet Halls and last but not least, Zepp Hall Malaysia developed in collaboration with Zepp Hall, which constitutes of a live hall that is able to house up to 2,500 pax.
With a total Gross Development Value of MYR8.7bn, this development is a masterpiece in the making and sets a new standard for luxury living in KL.
Sitting in the middle of Kuala Lumpur’s City Centre, the “Orchard Road” equivalent of Singapore, the location of BBCC is perhaps most widely talked about.
BBCC is surrounded by some of KL’s signature landmarks including Bukit Bintang Shopping Belt, Lot 10, Starhill Hotel, JW Marriot, Ritz Carlton, Pavillon and Fahrenheit 88.
BBCC provides seamless connectivity everywhere via a transit hub that will house the existing Hang Tuah monorail and LRT as well as provide linkage to the newly opened Merdeka MRT station. Pavilion KL, KLCC Shopping Mall and Petronas Twin Towers and the proposed High-Speed Rail Station connecting Singapore are just a few stops away and we expect this combination of an integrated development with MRT connectivity to achieve strong international appeal.
BBCC’s strategic location coupled with it’s concept of a world-class integrated development which combines living, working, shopping and entertainment in one place, is a key attraction to property investors and home buyers. Together with a strong network of reliable consortium, it is no wonder that investors are so confident towards the project.
The first Residential Development to launch in BBCC
Lucentia Residences, the first residential launch of BBCC, saw a remarkable success during its first launch in KL last year. 90% of its residential Tower 1 and 60% of its residential Tower 2 were sold out soon after the launch.
Inspired by traditional Japanese paper lanterns, Lucentia Residences is the first residential launch in BBCC together with the stata offices, The Stride. This high-rise service apartment consists of two conjoined towers, with 47 and 35 floors each.
These residential service suites are accompanied by its own facility deck and are designed to offer the ultimate luxury that includes practical floor-plans, quality furnishings, Olympic-sized pools, Sky Decks and to top it all off, a breathtaking skyline
Lucentia Residences is probably one of the most exciting investment properties you will discover in KL this year and includes a range of smaller residential units ranging from studio units to dual-key two-bedroom units. Within the established central city locations, these units tend to be more popular among tenants. The Bukit Bintang area especially, is dense with a large population of expat professionals and young graduates working in surrounding offices, as such, there has been an increasing demand for accommodation near the office buildings.
Other than the working professionals in Bukit Bintang, EcoWorld recognizes that the sizable community of Japanese expatriates in KL will also make up a significant percentage of prospective tenants, as they may be drawn to the lifestyle mall under the Mitsui Fudosan brand name that will also see the entry of new brands from Japan and Far East.
If you are as excited as I am to find out more, EcoWorld, the developer of BBCC will be hosting an exhibition of the first residential development within BBCC, in Singapore. Feel free to take a look at their website for more information too!
Join me in RSVP-ing to the exhibition this coming April and May!