KUALA LUMPUR (April 25): Bangsar Hill Park Development Sdn Bhd (BHPD) will be officially launching its 5.87-acre Bangsar Hill Park project in June this year starting with the RM1 billion Phase 1 or Verdura, offering 812 condominiums units in total over two 62-storey blocks (Block D and Block E).
The leasehold development will be jointly developed as BHPD signed a conditional share subscription and shareholders’ agreement (SSSA) on Oct 2, 2020 with Sunsuria Bhd (Sunsuria), Suez Capital Sdn Bhd, Dasar Temasek Sdn Bhd and Sunsuria KL Sdn Bhd, whereby Sunsuria would acquire a 51% stake in BHPD for RM8.44 million. According to BHPD, the SSSA was finalised on Feb 8, 2021.
Located on Lorong Maarof, Bangsar Hill Park is part of the RM3.01 billion, 9.82-acre redevelopment project of the Sri Pahang flats in Bukit Bangsar, Kuala Lumpur, being undertaken by BHPD. The developer has plans for another four residential blocks comprising 1,266 units within the enclave.
“We believe there are still a lot of people who are looking to buy a property if the product is right. I think the property market has hit rock bottom and will not go down further, and there are many buyers who wouldn’t want to miss this window. With the right price, right location and good design, I don’t see any reason Bangsar Hill Park won’t do well,” says Sunsuria executive chairman Tan Sri Ter Leong Yap.
“We think Bangsar already has a lot of retail and lifestyle developments. Also, with a sizeable development, we are able to create green spaces and big common areas for the residents to enjoy what we call ‘urban resort living’,” he adds.
Read more about it in The Edge Malaysia weekly’s April 26 edition.
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