KUALA LUMPUR (Jan 30): Metropolitan Lake Development Sdn Bhd (MLD) is developing the RM750 million Metropolitan Waterfront on 14.6 acres of prime land in Kepong. It’s first phase, the commercial and retail section is called Keponggi Square, which features 73 three-storey retail units that range in built-up from 4,400 to 7,300 sq ft.

According to MLD general manager James Yam, the purpose for developing the commercial side first is to create a destination lifestyle hub that will create a groundswell of interest in the area before proceeding to development high-rise residential towers, which will be launched at a later date.

Yam explains that Keponggi Square’s name is a play on the popular Japanese area called Roppongi in Tokyo, where people go to be entertained and also to be refreshed. So far there is an 80% take-up of the 73 units and according to MLD director Raja Hamzah Abidin the buyers are a mix of owner-occupiers and investors.

As for the high-rise development, Yam reveals that the details are still being finalised but he provides that the units will be larger than normal, probably from 1,400 to 2,400 sq ft and selling from RM700 psf (indicatively). The project will feature a delivery area as well as a pick-up e-hailing area, along with other facilities.

Read more about this new development in The Edge Malaysia weekly’s Jan 31 edition.

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