MCA Revises Redevelopment Plan on HQ Land Again
The Malaysian Chinese Association (MCA) is believed to have resubmitted a fresh plan on the redevelopment of its headquarters on Jalan Ampang, which is less than 1km away from the Petronas Twin Towers.
Documents sighted by The Edge Financial Daily show that MCA has submitted a revised plan to Kuala Lumpur City Hall (DBKL) at the end of June.
The political party will still tear down the existing 23-storey structure and build a 29-storey building, according to the latest plan.
The new plan, which has been granted conditional approval by DBKL, includes retail space, a hawker centre, a museum, a multi-purpose hall, an exhibition centre, an auditorium and 13 floors of hotel offering 164 rooms.
The first time that MCA submitted its redevelopment plan was in October 2017. Subsequently it amended and submitted a second plan in July last year which it wanted to build a 70-storey tower that would have included offices, a hotel, sky lounge and restaurant. A revised proposal was submitted in October 2018 for a shorter block measuring 45 storeys.
Wisma MCA sits on a freehold plot measuring 4,955 sq m or 53,335 sq ft, and was registered in the name of MCA in 1983.
It is not known the reason for the amendments to the redevelopment plan for the third time and the height of the new headquarters is getting shorter after the revision each time.
It is worth noting that DBKL earlier this year announced that property projects which had been previously granted approval in principle with a higher plot ratio than what is permitted under Kuala Lumpur City Plan 2020 are required to seek fresh approval from City Hall.
Meanwhile, the removal of the office component is perceived as a wise move as the city centre is experiencing an oversupply of office space.
Furthermore, it is also noteworthy that several new hotels are opening near Wisma MCA including Singapore’s Oxley Holding Ltd, which is building the Oxley Tower Kuala Lumpur City Centre.
Oxley’s project includes The Jumeirah Kuala Lumpur Hotel that will offer 181 hotel rooms, 267 units of Jumeirah Living Kuala Lumpur Residences and 207-room SO Sofitel Hotel and 590 units of SO Sofitel Residences. Both hotels are scheduled for completion in 2023.
Hotels along Jalan Ampang include Hotel Intercontinental and the 910-room Renaissance Hotel as well as one-year-old hotels, such as Four Seasons Hotel and W Kuala Lumpur.