7th Feb 2022
Mixed-use development Alfa Bangsar will be completed in mid-2023
City Motors Group of Companies (CMG) has officially launched its RM450-million Alfa Bangsar mixed development project located in Jalan Maarof, Bangsar recently. This 42-storey project comprising upscale hotels, luxurious serviced apartments and commercial offices with wellness hubs is expected to be completed by middle of 2023. According to the developer, the construction is almost at 20th floor currently.
Senior Works Minister Yang Berhormat Dato’ Sri Haji Fadillah officiated the launching of Alfa Bangsar by CMG.
Alfa Bangsar and another development in Bukit Bintang by CMG
During his speech, Fadillah said, “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.”
Only 178 units in Alfa Bangsar development
CEO of CMG, Terence Chia shared that Alfa Bangsar sits on the few remaining freehold land in Bangsar, with only 178 serviced apartments offered for sales.
He added, “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.”
CMG has over 300 acres landbank
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.
Director Foo Yit Tung, the grandson of the CMG chairman said, “[We] may be lesser known in the business circle, preferring to play a tactical low profile but our portfolio of over RM600 million of real estate in Taman Nirwana in Ampang speaks for itself.”
Alfa Bangsar’s location is a big advantage
Alfa Bangsar is located near amenities, namely Mid Valley City, Bangsar Village, Nu Sentral, Bangsar Shopping Centre, Bukit Bintang, KLCC, Pantai Medical Centre, Universiti Malaya Medical Centre and Assunta Hospital.
It is also accessible via the Mid Valley KTM Station, Bangsar LRT station and KL Sentral.