7th Feb 2022
City Motors Group launches Alfa Bangsar
PETALING JAYA (Jan 13): City Motors Group of Companies has officially launched its RM450 million Alfa Bangsar in Kuala Lumpur and its sales gallery. The project is a mixed-use development, anticipated for completion in mid-2023.
During the launch at Kompleks Wan Kien on Thursday, City Motors Group announced that the 42-storey project’s construction has almost reached its 20th floor.
Present at the launch were Works Minister Datuk Seri Fadillah Yusof, Deputy Education Minister Datuk Dr Mah Hang Soon, former Perak menteri besar Datuk Tajol Rosli Ghazali, City Motors Group chairman Datuk Dr Foo Wan Kien, City Motors Group chief executive officer Terence Chia and City Motors Group director Foo Yit Tung.
Fadillah said that City Motors Group is “bucking the trend” by developing a high-end mixed-use development, something most developers are avoiding.
“I am pleased to hear that your company has recently obtained a development order to commence the construction of yet another high-rise mixed-use development project in Bukit Bintang. The two projects (Alfa Bangsar and the Bukit Bintang project) have a combined gross development value of RM2 billion [and they are] expected to help revitalise the country’s economy while the [spillover] effects can benefit over 140 supporting industries,” Fadillah said.
Alfa Bangsar sits on the few remaining freehold land in Bangsar, with only 178 serviced apartments offered for sales, said Chia.
“Our business point of view, as we study the pandemic, is to seek out its positive flip side that people imprisoned within their homes for about two years are now yearning to travel. The hotel will elevate the hospitality services in this entertainment precinct,” he added, sharing that the name Alfa takes on the renowned Alfa Romeo brand.
Chia also said that the company has plans to develop over 300 acres of landbank in Penang, Kuala Lumpur, Cheras, Perak and Pahang. The projects in Penang and Cheras, spanning over 60 acres, will be unveiled next year.
Wan Kien mentioned that the company is also doing charity and making donations.