Prospects and outlook of the Land and the Proposed Sample Clauses

Prospects and outlook of the Land and the Proposed. Development The Land is situated in a prime and strategic location in the highly sought after address of Jalan Ampang and surrounded by high-end developments in its vicinity. It is located nearby to the coveted residential area known as embassy enclave which are populated by expatriate and influential community. The subject property is located at Jalan Ampang Kiri, Off Jalan Ampang and within the locality of Ampang. It is situated approximately 200 metres Off Jalan Ampang and approximately three (3) kilometres to the east of Kuala Lumpur city centre. There are abundant facilities/amenities within a stone’s throw away from the subject property, including Sayfol International School, Fairview International School and Great Jamahiriah School; retail malls such as The Amp Walk, Great Eastern Mall, Plaza Ampang City and Plaza Flamingo, just to name a few. Medical centres within the vicinity include the Gleneagles Specialist Hospital, Ampang Puteri Specialist Centre as well as the HSC Medical Centre. Therefore, the market prospect for the subject property is favourable as it is conveniently located. The subject property is easily accessible via Jalan Tun Razak, Jalan Ampang and major highways such as MRR2, AKLEH, DUKE, SMART highway and MEX. These highways provide convenient connections to various parts of the Klang Valley. In addition, the proposed Sungai Besi – Ulu Kelang Elevated Highway (SUKE) which will commence at Sri Petaling and exiting at Ulu Kelang, will link the existing major highways and roads namely MRR2, DUKE, AKLEH, Jalan Ampang, thus improving overall traffic flow as well as its connectivity to Klang Valley. The subject property has been approved for four (4) 45 to 47-storey serviced apartment blocks incorporating nine (9) levels of retail podium and carpark, facilities floor and a basement car park i.e. providing for a proposed Plot Ratio of 1:3.94. Adjoining to the immediate south-east of the subject property is the on-going serviced apartment development known as The Elements@Ampang, a joint venture development by L&G Group with Xxxxxxx Group. In spite of the several regulatory measures implemented by the Government/Bank Negara Malaysia to cool the market, it was reported that The Elements@Ampang achieved good sales status when launched, which shows that demand for good and quality properties in the subject locality is expected to remain healthy and stable going forward, being underpinned by a myriad of reasons, namely lower interest rates le...
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