“COMPOSITION
of a rhythmic lifestyle”. This clearly defines Opus Kuala Lumpur (Opus
KL), an ongoing development, which together with Merdeka PNB 118
(formerly known as Warisan Merdeka), is set to become the next epicentre
of Kuala Lumpur’s real estate.
Opus KL boasts a gross development value of about RM430 million and is located on a 0.56ha freehold site in Jalan Talalla, Kampung Attap.
Opus Kl is strategically located opposite PNB 118, which is set to be the tallest tower in Malaysia and Southeast Asia by 2024.
The PNB tower will also potentially be the world’s third tallest structure. At a height of 644m, it will be taller than the 452m Petronas Twin Towers.
This iconic building will comprise a lifestyle retail complex, offices, residences and hotel.
Opus KL and PNB 118 are among the “hottest” developments in the Kuala Lumpur city centre. The others include the Tun Razak Exchange and Bukit Bintang City Centre.
Opus KL
Opus KL is a low-density development with two 32-storey towers comprising 357 units of high-end serviced apartments, ranging from 700 to 1,153 sq ft.
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The
first tower was launched in June 2014, and the selling price for each
apartment was between RM1,500 and, RM1,600 per sq ft (psf).
The units prices are said to be about 30 per cent lower than those in other landmarks such as KLCC, Pavillion or KL Sentral.
Despite being cheaper, they feature world-class furnishings and quality kitchen appliances.
The second tower, launched in June 2015, boasts luxury features, with Calvin Klein designer furniture and Gorenje energy-efficient kitchen appliances.
Opus KL is equipped with security systems which come with automated car park garage door that has proximity sensor and integrated video intercom.
These features, coupled with the project’s prime location, are the reasons why the units are selling at RM1,500 to RM2,100 psf today.
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Bina Puri Holdings Bhd group executive director Datuk Matthew Tee said the company is proud to have developed Opus KL.
“This is a project that we are proud of because we know it will become one of the most unique and prominent developments in Kuala Lumpur with a stunning view of the new iconic landmark in Malaysia, PNB 118.”
He said 92 per cent of Opus KL has been taken up, with a majority of the buyers being Malaysians while 15 per cent are from Hong Kong and 15 per cent from China.
Buyers include investors who are looking for capital gains and owner-occupiers.
Investors may not have to worry much as Opus KL is projected to have high rental yield from the tenant pool of PNB 118.
A pedestrian walkway will link Opus KL to PNB 118 and a lifestyle mall.
Tee said Bina Puri is considering raising the prices of the remaining units.
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“We are studying a price increase for the remaining 25 units, to take advantage of the fact that Opus KL is the single biggest and nearest project to PNB 118.”
The Jewel in KL
PNB 118 is being developed on the site of the former Merdeka Park (also known as Taman Tunku) next to Merdeka Stadium and Stadium Negara in Jalan Hang Jebat.
The Merdeka Stadium is a historical landmark where the independence of Malaya was declared.
Permodalan Nasional Bhd (PNB), the country’s biggest fund management company, owns PNB 118.
PNB 118 was designed by Australian architecture firm Fender Katsalidis Architects.
The tower’s off-centre spire is inspired by the raised right hand of Tunku Abdul Rahman during the Merdeka proclamation.
PNB 118 will have 118 floors topped with a 150m spire.
The podium floors will be occupied by retailers.
PNB and its subsidiaries will take up 42 floors while 14 floors are for amenities. Four floors will become observation decks and another 41 floors are for office rental.
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The
upper 17 floors of the tower will house Park Hyatt Hotel Kuala Lumpur,
operated by Hyatt Hotels Corp. The five-star hotel will have 232 guest
rooms, 28 suites and 30 serviced apartments.
Construction on PNB 118 started in 2014 and is expected to be completed in 2024.
UEM Group and South Korea’s Samsung C&T are the major contractors.
The construction of PNB 118 is estimated to cost RM5 billion but this could increase as building material prices have risen over the last four years.
The initial target to complete the construction was 2020.
PNB told the media during the ground-breaking of PNB 118 it would ensure that the cost of construction stayed at RM5 billion as budgeted.
During the agreement signing between PNB Merdeka Venture Sdn Bhd and Hyatt Hotels in February, then PNB group chairman Tan Sri Abdul Wahid Omar said it is expecting the tower to be 40 per cent completed by the end of this year.
In May, Wahid said, 18 storeys have been completed.
Opus KL boasts a gross development value of about RM430 million and is located on a 0.56ha freehold site in Jalan Talalla, Kampung Attap.
Opus Kl is strategically located opposite PNB 118, which is set to be the tallest tower in Malaysia and Southeast Asia by 2024.
The PNB tower will also potentially be the world’s third tallest structure. At a height of 644m, it will be taller than the 452m Petronas Twin Towers.
This iconic building will comprise a lifestyle retail complex, offices, residences and hotel.
Opus KL and PNB 118 are among the “hottest” developments in the Kuala Lumpur city centre. The others include the Tun Razak Exchange and Bukit Bintang City Centre.
Opus KL
Opus KL is a low-density development with two 32-storey towers comprising 357 units of high-end serviced apartments, ranging from 700 to 1,153 sq ft.
About 92 per cent of Opus KL have been sold. Bina Puri PIC
The units prices are said to be about 30 per cent lower than those in other landmarks such as KLCC, Pavillion or KL Sentral.
Despite being cheaper, they feature world-class furnishings and quality kitchen appliances.
The second tower, launched in June 2015, boasts luxury features, with Calvin Klein designer furniture and Gorenje energy-efficient kitchen appliances.
Opus KL is equipped with security systems which come with automated car park garage door that has proximity sensor and integrated video intercom.
These features, coupled with the project’s prime location, are the reasons why the units are selling at RM1,500 to RM2,100 psf today.
Opus KL designer apartments. Bina Puri PIC
Bina Puri Holdings Bhd group executive director Datuk Matthew Tee said the company is proud to have developed Opus KL.
“This is a project that we are proud of because we know it will become one of the most unique and prominent developments in Kuala Lumpur with a stunning view of the new iconic landmark in Malaysia, PNB 118.”
He said 92 per cent of Opus KL has been taken up, with a majority of the buyers being Malaysians while 15 per cent are from Hong Kong and 15 per cent from China.
Buyers include investors who are looking for capital gains and owner-occupiers.
Investors may not have to worry much as Opus KL is projected to have high rental yield from the tenant pool of PNB 118.
A pedestrian walkway will link Opus KL to PNB 118 and a lifestyle mall.
Tee said Bina Puri is considering raising the prices of the remaining units.
Opus KL designer apartments. Bina Puri PIC
“We are studying a price increase for the remaining 25 units, to take advantage of the fact that Opus KL is the single biggest and nearest project to PNB 118.”
The Jewel in KL
PNB 118 is being developed on the site of the former Merdeka Park (also known as Taman Tunku) next to Merdeka Stadium and Stadium Negara in Jalan Hang Jebat.
The Merdeka Stadium is a historical landmark where the independence of Malaya was declared.
Permodalan Nasional Bhd (PNB), the country’s biggest fund management company, owns PNB 118.
PNB 118 was designed by Australian architecture firm Fender Katsalidis Architects.
The tower’s off-centre spire is inspired by the raised right hand of Tunku Abdul Rahman during the Merdeka proclamation.
PNB 118 will have 118 floors topped with a 150m spire.
The podium floors will be occupied by retailers.
PNB and its subsidiaries will take up 42 floors while 14 floors are for amenities. Four floors will become observation decks and another 41 floors are for office rental.
The location of Opus KL and Merdeka PNB 118
Construction on PNB 118 started in 2014 and is expected to be completed in 2024.
UEM Group and South Korea’s Samsung C&T are the major contractors.
The construction of PNB 118 is estimated to cost RM5 billion but this could increase as building material prices have risen over the last four years.
The initial target to complete the construction was 2020.
PNB told the media during the ground-breaking of PNB 118 it would ensure that the cost of construction stayed at RM5 billion as budgeted.
During the agreement signing between PNB Merdeka Venture Sdn Bhd and Hyatt Hotels in February, then PNB group chairman Tan Sri Abdul Wahid Omar said it is expecting the tower to be 40 per cent completed by the end of this year.
In May, Wahid said, 18 storeys have been completed.
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