KUALA LUMPUR (July 18): King’s Park Development Sdn Bhd is on track to develop King’s Park, the first central business district (CBD) in Genting Highlands, in partnership with Yuk Tung Group and the Association for the Promotion of Higher Education in Malaysia.
Leveraging the high tourist arrivals in Genting Highlands, King’s Park is a mixed development project with a gross development value (GDV) of RM10 billion.
Spanning over 61 hectares of freehold land, the upcoming development comprises a unique blend of integrated commercial, residential and recreational offerings.
“This development would be poised to benefit greatly from the influx of investment and development opportunities in Genting.
“Genting Highlands is projected to receive 53 million visitors by 2026 with a catchment area of over 700,000 people within a 5km radius,” said King’s Park Development group chief executive officer Jayandren Subramaniam.
He added that King’s Park will also feature a significant presence of internationally acclaimed brands, offering new experiences which are not yet available in Malaysia.
“There will be many outdoor activities and attractions, such as eco-sports, mountain biking trails and nature-based theme parks, including the world’s largest terrarium which spans over 600 metres in length,” he said.
First phase to open in 2026
Jayandren said that the first phase of the project — with a GDV of RM1 billion — entails the development of 12 blocks of shop lots, comprising 360 units, each one measuring 22ft by 75ft.
Priced between RM2.8 million and RM3.8 million, some units on the ground floor have high ceilings, measuring 6.5 metres (m).
Scheduled for completion in 2026, the commercial component includes a 2km stretch of pedestrian street shops, featuring a blend of colonial and vintage designs.
“The retail area, which includes food and beverages outlets, will also allow patrons to experience alfresco dining with a riverside view that stretches about 500m,” he said.
Additionally, the development ecompasses the construction of three hotels, including the world-class Swissôtel Genting Highlands resort.
Meanwhile, the residential development portion of King’s Park will kick off in phase three, starting from 2026.
“Usually when people go to Genting Highlands, it would be difficult for them to get a room because most units are reserved for members only, so the wider selection available at King’s Park would attract more people to the area,” he said.
The development also aims to attract international Muslim tourists as it includes a halal retail hub and a boutique hotel catering to Muslim patrons, tapping into the growing market for halal travels.
Jayandren also stressed that the development would not only attract tourists and business travellers, but also serve the surrounding community and complement other developments in the area.
“Even if we undergo a similar situation like the pandemic, the development will be able to sustain and business will continue as usual as it will serve the community at large, not just the tourists,” he said.
King’s Park Development executive vice-president Sean Chen said one of the unique highlights of King’s Park is its nature-based theme parks.
“The two theme parks will complement the theme park in Genting Highlands where we are more nature-focused, while Genting’s is more indoor and studio-focused,” he said.
Spanning 200,000 sq ft, the theme parks would offer visitors a unique experience as it would be nestled within Pahang’s forest.
It would also feature the largest terrarium in Malaysia, where visitors would be able to walk through a riverside pathway for ultimate serenity.
Chen said that King’s Park would be developed in five phases, and would take about eight years to be completed.
“What we aim to develop here is more than just hotels and theme parks, but a complete CBD ecosystem which is able to stand on its own and cater to the growing demand in the area,” he added.
Source: EdgeProp.my
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