Mixed development project, Alfa Bangsar, to launch in Kuala Lumpur’s affluent neighbourhood
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ity Motors Group of Companies, more popularly known as the distributor for Alfa Romeo cars, has brought its passion for fast cars to property development, aptly calling their latest project, Alfa Bangsar. The freehold RM450 million mixed development, located at the tail end of Jalan Maarof in the affluent Bangsar neighbourhood, comprises a 42-storey tower housing 178 “limited edition” serviced apartments, commercial offices and an upscale hotel. The residential units are priced from RM700,000 onwards and the entire project, mid-way in construction now, is expected to be completed by 2023. During the recent launch of the project at the Alfa Bangsar Sales Gallery at Kompleks Wan Kien, Petaling Jaya, Works Minister Datuk Seri Fadillah Yusof, who officiated at the event, praised the developer for its bold move to launch amid the COVID-19 pandemic, and commented that the construction industry needed a boost in order to spur the country’s economic recovery. Also present at the event were City Motors’ executive chairman Datuk Foo Wan Kien and CEO Terence Chia. Other VIP guests include the Perak chief minister Tan Sri Mohamad Tajol Rosli Ghazali and deputy education minister Datuk Mah Hang Soon. “By virtue of its name Alfa that takes after the renowned Alfa Romeo brand, we are duty-bound to uphold the definitive quality the automobile brand and that’s how we want to position the corporate profile of City Motors Group as we grow in future,” Chia said.
City Motors, despite its association with the automobile industry, has been active in property development for the past 40 years, with projects ranging from affordable housing to residential apartments and townships. It has completed 10 projects with a gross development value of RM604.5 million and will soon be starting on its next major project, a high-end serviced apartment at Bukit Bintang, within Kuala Lumpur’s shopping belt. Th Group has over 300 acres of landbank across Malaysia in Penang, Kuala Lumpur, Perak, and Pahang that it will develop in stages. For more, information, visit alfabangsar.com March-April 2022 | www.b-i.biz 33
