Kuala Lumpur will see revitalization, with more residential enclaves sprouting up in the inner part of the capital city. The trend will certainly bring back life to the city after office rush hours.

The city skyline has changed and it is normal for visitors who have not “dropped by” the city for some time to gaze in awe at the many new high-rise buildings, especially those in the Kuala Lumpur central business district and its periphery.

When the property market was still booming before the regional financial crisis, many of these few buildings were office complexes.

But the onset of the crisis had brought about many changes and quite a number of these buildings had changed ownership and undergone “facade facelift.”

A glut in office space and other commercial properties has also halted the development of more office buildings, and developers had to apply for a change in their building plans.

With the recovery in the residential properties, including upmarket condominiums in the right location, more high-rise residential development are gracing the corridors of the KL inner city, and this trend is actively being promoted by Kuala Lumpur City Hall (DBKL) under its plans to turn KL into a world-class “livable” city.

Many areas, including busy Jalan Tun Razak, will soon join the premium neighbourhoods of Jalan Stonor and the surrounding areas of the Kuala Lumpur City Centre (KLCC) to be come bustling residential enclaves livening up the city, similar to Orchard Road in Singapore.

One such development, currently under the way is The Orion Condominium Kuala Lumpur by the Swasta Setia Holdings Sdn Bhd.

According to the company's chief executive officer, Datuk Zanuddin Mohammad Radzi, the project will cater the growing group of Malaysian who have the need to maintain a second home in the city with ease of moving around and becoming part of the city's pulse.

“The Jalan Tun Razak stretch up to the Pekeliling Flats area is undergoing active redevelopment in line with DBKL's plans to revitalize the city. The area's proximity to other vibrant KL neighbourhoods also augurs well for residential development as more people who work in the city see the benefit of living here, literally to beat the jam, now that the inner city infrastructure network has improved tremendously,” he said in an interview with StarBiz.
As this is designated as a ceremonial road, only Class A buildings with dual facades are allowed along the stretch.

Zainuddin said The Orion, featuring 202 luxurious condominium units, was part of the company's Selborn Perdana project on 13 acres, Bangunan Yayasan Selangor and Menara TH Selborn. Both the office towers were completed in 2001 for the total development value of RM250mil.

Another six acre are available for future development and will most likely be developed into low-rise residential enclaves.

“We have priced the condominium units very affordably, from RM285 to RM352 per sq ft (psf) compared with other neighbouring developments, which have price tags from RM700 to RM1000 psf. This offers our buyers and opportunity to realize higher capital appreciation and build up our brand name to drive greater interest in out future projects,” he added.

According to Swasta Setia director cum general manager Ghazie Yeoh Abdullah, The Orion, which comes complete with full facilities, is tagged as “a place to live, work and play.”

“When completed by 2006, it will be a prominent architectural landmark providing ultimate modern living. It is a one-stop centre that caters to all needs of buyers with facilities such as a 200-metre jogging track, well-equipped gymnasium over looking the swimming pool, and a Balinese style private park cum landscaped garden'” he said.

The project, with a gross development value of RM100mil, offers a variety of floor layouts from 1,161 to 1,626 sq ft as well as six penthouses and four duplex units with sizes ranging from 3.335 to 4,558 sq ft. Buyers have a choice of either the view of KLCC or the lush greenery of Taman Tasik Titiwangsa.

Ghazie said that having established a name in the prime commercial sector, Swasta Setia was set to venture more aggressively into the high-end residential area, including boutique homes and condominium projects in other cities in the country.

“We will compete on the basis of strategic location, innovative designs, right pricing and a wide range of facilities to cater to the growing city population. There is also a great interest in our homes among Malaysians working in Singapore and among Singaporeans,” he added.