TNB's mega developments

(File pix) An aerial view of Tenaga Nasional Bhd's new development works in Bangsar. Pix by Muhd Zaaba Zakeria

By Sharen Kaur - Published in NST Property, September 20, 2018 

THE transformation of Jalan Bangsar in Kuala Lumpur with landmark skyscrapers has been progressive over the last five to eight years, led by KL Eco City.

Jalan Bangsar is just a short stretch between KL Eco City and the Public Health Institute land (off Jalan Bangsar). However, besides that of KL Eco City, there are several other projects — some new phases with in existing developments — coming up on the main road.

NST Property understands the combined gross development value (GDV) for these new projects is more than RM8 billion.

KL Eco City, with a GDV of over RM7 billion, is a mixed-use development that spans 10.12 ha and was launched in 2011.

The project is located on the site of former Kampung Haji Abdullah Hukum — at one end of Jalan Bangsar, fronting Tenaga Nasional Bhd's (TNB) headquaters.

It is the first integrated green luxury development in the area to be anchored by several prime commercial offices, as well as high-end retail and luxury residential offerings , and new phases are continuously being launched.

Pelaburan Hartanah Bhd (PHB) has also started a mixed-used evelopment on a8.09hasite opposite The New Straits Times Press (Malaysia) Bhd (NSTP).

The company is building at least seven towers with a GDV of more than RM5 billion on the site that used to house Unilever Malaysia's soap and margarine manufacturing plant.

While market players are eagerly waiting to see what type of buildings PHB will build there in terms of design and architecture, they are more surprised with the development projects undertaken by state utility giant TNB on its Bangsar land.

NST Property understands that TNB is undertaking two development projects, with a combined GDV exceeding RM2 billion, fronting the main road.

The first project involves the development of 1.52ha at the corner of Jalan Bangsar/Jalan Pantai Baru, facing the New Pantai Expressway (NPE).

The land is located near Sri Dasmesh International School and Sekolah Kebangsaan Bangsar.

The second project is located within the TNB headquarters premises, facing Jalan Bangsar and KL Eco City. The plan for this project is said to include four office blocks and shared facilities, as well as Balai Islam Center.

The third project is believed to be the development of a complex for building generation on about 5.67ha. It will comprise several generation buildings of no more than 10 floors opposite Zehn Bukit Pantai in Jalan Bukit Pantai.

It is understood that TNB, which aims to be the top 10 global utility by 2025, is building the complex at an estimated cost of about RM1 billion.

Earth-clearing and piling works for all the three projects have started.

When contacted, officials from TNB declined to comment.

It has been reported that TNB has earmarked a recurring capital expenditure (capex) of RM10.5 billion this year for transmission, distribution and energy generation purposes. Last year, its capex was RM12.1 billion.