TAN Sri Lim Kim Hong, the self-made entrepreneur responsible for building the iconic i-City integrated development, here, via Main Market-listed I-Berhad, is set to make his mark in the heart of Kuala Lumpur.
The 64-year-old businessman, who does not tire easily despite his age, is undertaking a new project in Kuala Lumpur city centre called 8Kia Peng, which has been dubbed “King ofthe Hill”.
8Kia Peng is a RM1 billion luxury residential project sited on0.44ha of prime land at the hill of Changkat Kia Peng off Jalan Kia Peng in Kuala Lumpur, which was once home to Lim and his family.
Lim, who made his money through several businesses over the years, had lived in a bungalow there for over 30 years.
He decided to vacate the premises to make way for the luxury project in order to share the place’s good feng shui and its prestigious neighbourhood with others.
8Kia Peng, which is the first luxury project by I-Berhad, will be unveiled on March 14.
The bungalow owned by Lim has been demolished. Construction of the tower has started and it is targeted to be completed by end-2019 with handing-over of keys to buyers expected in early 2020.
8Kia Peng has been dubbed “King of the Hill” for two reasons — for its historical essence and because of the site’s terrain that is on higher ground than others.
Historically, the location has always been associated with class, elegance and prestige. Jalan Kia Peng pays tribute to one of the city’s most illustrious figures, Choo Kia Peng (it is a surname shared by the first emperor of Ming Dynasty China Zhang who rebuilt the Great Wall of China along high mountain passes), and was once home to many Malaysian elites, including the country’s founding father, the late Tunku Abdul Rahman.
The higher ground where 8Kia Peng is situated gives it the advantage of a commanding skyline of the Kuala Lumpur city centre. Its lowest residential unit, at Level 9, is 56m elevated from the main road of Jalan Kia Peng (which is equivalent to Level 18 of a typical tower).
Additionally, although 8Kia Peng is tucked in a quiet and private enclave, it is only within five minutes’ walk from the hustle and bustle of the city, which is home to international five-star hotels like Grand Hyatt and Mandarin Hotel, shopping malls that include Pavilion and Suria KLCC, the KL Convention Centre as well as Grade A office towers such as Petronas Twin Towers and the Prince Court Medical Centre.
The freehold development will feature a 50-storey tower with 442 luxury residential units ranging from 716 sq ft to 987 sq ft each, which are fully fitted and furnished making it the first residential development around the KLCC area to offer such ready-to-move-in luxury.
The interior design would be both modern and contemporary that suits the global community.
The tower would also be the first in the location to comply with the Construction Quality Assessment System (Conquas), a Singapore standard, and would be a benchmark to other international developments.
With a selling price from RM2,300 per sq ft (psf), 8Kia Peng is poised to set a new standard in luxury living as well as change the city’s landscape.
The Four Seasons Place, which is next to KLCC, was selling at an average RM2,950 psf, outpacing the RM2,900 psf record held by Binjai on The Park. The Troika, completed in 2010, sold at RM2,500 psf. This could mean that I-Berhad will have no problem selling 8KiaPeng with its current price tag.
The project will have a prestigious five-star hotel lobby with a double volume ceiling, a sky lounge on Level 46 and47, a recreation centre, a gymnasium and a 50m infinity pool overlooking the KLCC.
Another key feature of the project is that 80 per cent of the units will have direct views of the world famous Petronas Twin Towers and located within the golden triangle and in Zone 1 ofthe KLCC.
Zone 1 is where luxury residences like One KL, The Troika, Marc Residences, Park Seven, Stonor Park, The Binjai on the Park, The Oval, Platinum Park and the ongoing The Four Season Place and The Ruma Hotel & Residences are located.
The Jalan Kia Peng address is famous with landmarks, such as Istana Hinggap of Johor, Kelantan and Terengganu, and also home to several embassies, such as the Philippines, Singapore and Japan.
The layout of the building is designed to optimise the slope where the site is and the surrounding skyline of KLCC. The tower is positioned to ensure that every unit has a view out to the city and it overlooks a 50m infinity pool set in a landscaped deck. Setiakon Builders Sdn Bhd, which has 20 years of experience and is familiar with the Conquas standard, has been appointed master contractor by I-Berhad to oversee the 8Kia Peng project.
Lim, who started working as an apprentice carpenter at the age of 14, ventured into the manufacturing business of making mattresses in the 1980s. He sold the business years later at a huge profit and used the money to enter into property development.
In 2005, Lim launched i-City, an integrated ultrapolis development with an expected gross development value (GDV) of RM9 billion. It is quickly becoming the “Pulse of Selangor” with a mix of residential, commercial as well as recreational and hospitality assets.
The i-City development, which started off with a GDV of RM1.5 billion, w en t through many rounds of improvements that included increasing the plot ratio and adding new development concepts as Lim wanted to offer more to buyers.