Spanning 11.3ha, SkyArena is the flagship development of SkyWorld and was launched in 2014.
DEVELOPMENT of the SkyArena integrated city development in Setapak, Kuala Lumpur is running smoothly as developer SkyWorld Development Group saw a successful topping off ceremony of Ascenda Residence.
The event also saw the announcement of a 1km flyover from Jalan Genting Klang to Jalan Ayer Jerneh by Kuala Lumpur City Hall (DBKL).
The flyover is hoped to alleviate traffic from the area and work is expected to start early next year.
As part of its corporate social responsibility efforts, SkyWorld will also be carrying out the upgrading of 2km of Jalan Ayer Jerneh to a 30.5m four-lane carriageway leading to and from SkyArena.
Making the announcement, SkyWorld founder and group managing director Datuk Ng Thien Phing said the new infrastructure plan would improve traffic flow and provide the Setapak community easier access to the Duta-Ulu Kelang Expressway (Duke).
“The road-widening works is estimated to cost RM30mil while the flyover will be built by DBKL,” he said, adding the upgrading project was expected to be completed within two years.
Ng added that Ascenda Residence would be completed three months ahead of schedule and had a 95% take-up rate.
(From left) Ng, Ahmad Fauzi, Mohd Najib and Lam during the topping-off ceremony of Ascenda Residence.
“We will also be launching the new block of our second residential tower, Bennington Residences, next month.
"There will be 296 units available during the launch with different unit layouts starting from 1,092sq ft.
“Tower B, which was launched in early 2016, recorded a positive take-up of 91%,” he said.
The jewel in its crown is the 3.8ha SkyArena Sports Complex, which is set to be completed by 2018.
“We are also in negotiations with DBKL for the right to manage the facility once it is completed. Although it will be owned by DBKL, we will be able to provide the highest level of maintenance to continue to enhance its value,” said Ng.
The sports facility will come equipped with a hostel, Olympic-size swimming pool, 4.5m diving pool, eight-lane running track, a fitness centre, tennis and squash courts, rock climbing facilities among others.
A bird's eye view of the Kuala Lumpur skyline from the top of Ascenda Residence.
Spanning 11.3ha, SkyArena is the flagship development of SkyWorld, launched in 2014.
The entire SkyArena project is expected to generate a gross development value of RM2.5bil.
Ng said the company was also unfazed by the softening property market and had several projects in the pipeline.
“We still have 40ha of land located across the Klang Valley to be developed. These parcels of land could potentially generate up to RM10bil in GDV,” said Ng.
Present during the topping-off ceremony were DBKL executive director (Planning) Datuk Mohd Najib Mohd, Setiawangsa MP Datuk Ahmad Fauzi Zahari, SkyWorld deputy group managing director Lam Soo Keong, SkyWorld chief operating officer Lee Chee Seng and SkyWorld chief financial officer Siew Chee Seng.
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