Integrations have been around for a long time, but not all of them are the same.
Let’s start by looking at what an integrated development is. Not everyone says the same thing about them. Because they are so vague, they are hard to define, but most people agree that at their core, an integrated development is a planned township with a mix of commercial and residential parts. How successful it is will depend on how well these different parts work together to meet the needs of the community.
An integrated development that works and has a winning formula is one that comes up with a comprehensive plan that takes into account the four key parts of catalyst, infrastructure, complementary factors, and momentum. Even though there is no set formula for success, any integrated development that plans and carries out its master plan well by using these key elements is definitely off to a good start. So it helps to think about them in a lot of detail.
Take, for example, the KL Metropolis. This project will be built on a site that is 75.5 acres and has an estimated GDV of RM20 billion. It will take 15 years to finish. It will also be home to the Ministry of International Trade and Industry (MITI), which is the only ministry outside of Putrajaya (other than the Public Works Department, JKR).
It is a huge project that will become a landmark address. It will include the Malaysia International Trade and Exhibition Centre (MITEC), the High Court, and a number of other integrated developments that are still in the works. In fact, the Prime Minister has chosen it to be Kuala Lumpur’s area for international trade and exhibitions.
KL Metropolis will be the start of a new wave of economic and social activity in the area for many years to come. This will bring life to the area’s communities and raise the value of Sri Hartamas, Mont Kiara, and Dutamas, which are already popular places to live.
There are also a lot of government organisations in the area. Because the High Court is here, there is a strong legal network, and the infrastructure is the best in the business. These will be helped by better access to roads and future MRT connections that will link the different communities in the area.
As the first part of KL Metropolis, MITEC will be fully operational by the first quarter of 2017. It will be the country’s largest exhibition centre, with 11 exhibition halls on three levels and a gross floor area of over one million square feet, which is four times bigger than the Kuala Lumpur Convention Centre. When it’s done, it will be one of the top three convention centres in Asia.
Other things that will be built in the eight precincts of KL City include homes, shops, offices, hotels, and a medical centre. Three major road improvements and access to the DUKE highway will also help the infrastructure. Dedicated bus and train stops, as well as elevated walkways that connect the whole development, will also make it easier to get around.
If Mid Valley City is seen as the central hub or gateway to Kuala Lumpur’s southern and eastern corridors, KL Metropolis does the same thing for the city’s northern and western areas, both in terms of geography and as a driver of more urbanisation. It will be one of Kuala Lumpur’s most well-balanced neighbourhoods.
It is rare to find an integrated development within four to six kilometres (km) of Kuala Lumpur’s central business district (CBD), let alone one with so much land so close to good neighbourhoods. There is no more integrated development land bigger than 50 acres within four kilometres of the KL Central Business District (KL CBD). Only KL Sentral and KLCC, which are both large integrated developments, are within 4 km of the KL CBD. Mid Valley City and Eco City are two more that are between 25 and 50 acres.
Table 1: Comparison of the major integrated developments in Kuala Lumpur
|BBCC||19||BBCC Dev Co|
|Mid Valley City||25||Tan & Tan|
|KL Eco City||25||SP Setia|
|Desa Park City||473||Samling|
|Kota Kemuning||1,854||Gamuda Land|
|Setia Alam||2,000||SP Setia|
In fact, integrated developments are usually built in areas that aren’t as developed to help them grow. Because KL Metropolis is close to so many wealthy and well-known neighbourhoods, this is an integrated development that is sure to be a success, with strong local neighbourhoods and international communities that support each other.
It should also be able to keep going on its own and show how not to compete. This means that the project is built in stages, with planning based on what people want and a slow rollout to meet the needs and growth of the area. It doesn’t do what is usually done, which is to make investors choose between two areas controlled by developers. It is a way to focus on the area and build momentum, as well as to spur growth and development and give the area more life.
There are three different parts to Kuala Lumpur. First, there is the KL CBD, also called the Epicentre. We also have the Prime Fringe or Heartbeat zone, which is three to five kilometres from the Central Business District. Lastly, there is the Fundamental zone, which is outside of and includes a lot of popular and crowded suburbs. KL Metropolis will be in Kuala Lumpur’s “Prime Fringe” or “Heartbeat” zone, which is arguably the most interesting part of the city.
Why? Because the fundamental suburbs are growing all the time and many people who work in the CBD are moving closer to the city as they upgrade for practical and aspirational reasons.
Also, as property prices in the Kuala Lumpur Central Business District (CBD) continue to rise and become unaffordable, more people are moving to the Heartbeat zones, which are very attractive but a little farther away. This causes population shifts to happen in both directions, which affects and changes the business world and makes neighbourhoods that people want to live in seem like “the next big thing.”
KL Metropolis will be a mix of strong neighbourhoods, international business and trade, and a lot of different cultural elements. Think about the good, old neighbourhoods around it:
Mont Kiara is just 500 metres away and has a world-famous address where people from more than 51 countries live. There are four international schools in the area, as well as business leaders and wealthy expats and locals.
Bukit Tunku, or Kenny Hills, is just one kilometre away. It is the pride of the country and is often called the Beverly Hills of Kuala Lumpur.
Hartamas is a chic, urban area with a young population.
Other new and different neighbourhoods, such as Dutamas, Segambut, North Kiara, and Sentul, stand to benefit from the improvements to society, economy, and infrastructure that KL Metropolis will bring about.
How well will KL Metropolis do? Given how many good things it has going for it, it seems likely that it will be able to meet the needs of many investors and become the best in the area. People who don’t trust NAZA-TTDI because they don’t have much of a track record should remember that they are already a successful globalised conglomerate with a lot of resources, unlike MRCB, which was focused on construction when they first built KL Sentral.
The government is also well-established here, with MITI, MATRADE, the High Court, and the huge MITEC all located here.
Also, since an integrated development is made up of several phases and is well-planned, the master developer will make sure that there is a steady flow of new developments at KL Metropolis and that there is a marketing campaign that will bring in attention and interest over the long term.
In short, KL Metropolis is becoming a key “city within a city” because it has good reasons to go up in value, a limited supply, and The Met, MITEC, as well as well-thought-out infrastructure, continuity, and sustainability. This is all helped by the fact that it has a limited supply of land.
credits to StarProperty