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YTL to unveil Sentul Raya plan

   
Thursday, 11 April 2002

By Jagdev Singh Sidhu

YTL Land and Development Bhd will be unveiling its masterplan for the massive Sentul Raya project in Kuala Lumpur next week.

The project, which will feature about 4,000 residential units housing 20,000 people when completed, will be the focal piece of YTL Land.

“When we look at Sentul Raya, we see the energy and colour of Ma-laysia,’’ YTL Corp Bhd managing director Tan Sri Francis Yeoh Sock Ping said. “There will be a certain amount of redevelopment at Sentul Raya as we want to make it a place people want to live in.’’

Yeoh told Star Business this during an interview. YTL Land is a subsidiary of YTL Corp.

According to Yeoh, the development will be divided into two sides – west and east. The western portion of Sentul Raya will surround a park while the eastern side will be more commercial and robust.

Yeoh said that the company was “moving ahead’’ to develop Sentul Raya in line with its “tradition of rejuvenating peripheral properties.’’

He did not disclose further details on the project, but would only say that the YTL group would be spending “a huge amount’’ on infrastructure to ensure easy accessibility to the housing development.

Turning around an old part of Kuala Lumpur was not beyond the means of the YTL group, Yeoh said, pointing to its track record in successfully rejuvenating areas that others had feared to tread.

He cited the group’s success in re-juvenating a squatter area in Pantai Dalam by building Pantai Hillpark, turning a former leper colony into Pangkor Laut Resort and revitalising businesses along Jalan Bukit Bintang by turning it into Bintang Walk.

“We are not afraid of the stigma. We look at the beauty of a place and we want to turn Sentul Raya ar-ound,’’ he said.

Yeoh envisages Sentul Raya as one of the most sought-after ad-dresses once the development is finished, as the group will stress one thing most developers tend to take for granted – greenery.

The existing nine-hole golf course on the site would be converted into a private park.

“A park development in the west is the most prime piece of real estate,’’ he said, referring to some of the more prestigious addresses in New York and London.

“We are not turning the golf co-urse into an office block. We are giving it back to the people,’’ he said.

Yeoh said that YTL had done its market research on the potential of Sentul Raya and believes it would be a success.

“The project will also create value in properties in Sentul,’’ he said.

With Sentul Raya, property development is expected to become a significant contributor to YTL Corp.

“We have been doing properties for 17 years but it will now become a steady and important source of turnover and profit,’’ Yeoh said. “I think YTL Land will become one of the premier property companies in Malaysia.’’





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