7th Feb 2022
City Motors Group of Companies launches Alfa Bangsar, slated for completion in 2023
KUALA LUMPUR, 16 January: City Motors Group of Companies (CMG) recently celebrated the official launching of its RM450-million Alfa Bangsar mixed development project, located at Jalan Maarof. The 42-storey project comprising upscale hotels, luxurious serviced apartments and commercial offices with wellness hubs is on course to be completed by mid-next year. The development’s construction is in fact, almost halfway completed.
Senior Works Minister Yang Berhormat Dato’ Sri Haji Fadillah commended CMG for its determination in proceeding with the project when other developers were held at bay restrictions brought about by Covid-19.
“Property launches are few and far in between, especially now that the Omicron variant of Covid-19 virus is spreading fast. I commend City Motors Group for being able to arrive at this milestone moment and to have accomplished your plan to hold the launching ceremony today. It is a testament to your outstanding success.
“I salute like-minded enterprising developers such as Dato’ Dr Foo for their courage and determination to proceed with their projects amid the pandemic,” he said at the official opening of the project and sales gallery.
Fadillah said the Covid-19 pandemic had caused a lot of disruption in the supply chain and businesses are facing additional operating costs incurred to meet the requirement to adhere to anti-Covid infection compliance by the Health Ministry. On top of this, building material prices have increased and labour supply is short.
“I am aware many developers have had to put off their property launches until a time when the economy has recovered. Owing to these reasons, we can understand why there were few property launches since the pandemic hit the country in March 2020,” he said.
Fadillah said City Motors Group of Companies, in spite of its name associated with the automobile business, has been involved in property development over the past 40 years. Through its subsidiary Sri Seltra Sdn Bhd, City Motors Group has developed Taman Nirwana, converting a small kampung into a new suburban township with high-value landed real estate and high-rise condominiums.
“For me, City Motors Group is bucking the trend when it decided to use two parcels of freehold land it owns to build two high-end mixed-use developments. When most developers are staying away, you have found it an appropriate time to launch your projects,” he added.
“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 in the heart of Kuala Lumpur,” he said.