PETALING JAYA (August 13): Kompleks Penchala has been refurbished and rebranded as Kompleks Wan Kien by City Motors Group.
Named after City Motors Group founder and executive chairman Datuk Dr Foo Wan Kien, Kompleks Wan Kien marks a new milestone in over five decades of achievement in the automobile and property sectors.
Kompleks Wan Kien, located on 2.2 acres of land that was bought this year by the company, cost RM2 million to refurbish, and holds a total rentable area of 130,000 sq ft.
The Star quoted Foo as saying that City Motors Group will also be embarking on development of two multimillion tower projects in Bangsar and Bukit Bintang.
The daily reports that the Bangsar development will be ready for preview early next year, and the Bukit Bintang project is expected to be completed by the third quarter of 2022.
In a speech read by Deputy Minister Datuk Raja Kamarul Bahrin Shah, Housing and Local Government Minister Zuraida Kamaruddin said the recovering economy was expected to strengthen the real estate market in the near future, which would trigger a return in investor confidence.
The Star reports that the Bangsar project, at Jalan Maarof, is a 48-storey skyscraper that includes a hotel and serviced apartments. In Bintang Walk at Bukit Bintang, the project will be a freehold, mixed development infrastructure with a hotel and serviced apartments.