Lucentia Residences: Living at Bukit Bintang City Centre

By
/ EdgeProp
|
April 26, 2019 5:00 PM SGT
Bukit Bintang City Centre, an upcoming 19.4-acre mega-development along Jalan Hang Tuah in Pudu, comprises residences, a shopping and entertainment component, office spaces and hotels (Credit: EcoWorld)
Bukit Bintang City Centre is set on a historical site: up until 1996, it was grounds for the former Pudu jail, which operated for more than a century. It once reportedly boasted the world’s longest mural, at 394 metres long. There were talks to conserve the plot as a heritage site, but the Malaysian government eventually decided to build a mixed-development project there.
In 2017, it was announced that property developer EcoWorld – in partnership with Malaysia’s Employees Provident Fund and Urban Development Authority – would revamp the 19.4-acre (7.9ha) space along Jalan Hang Tuah into an integrated development comprising residences, a shopping and entertainment component, office spaces and hotels. This is estimated to cost RM8.7 billion ($2.9 billion), and slated for completion in 2025.
Boosted by interest from foreign buyers
The exterior of Lucentia Residences draws inspiration from Japanese paper lanterns, with vertical fins playing on light and shadows (Credit: EcoWorld)
Lucentia Residences, the 99-year leasehold residential component at Bukit Bintang City Centre, spans two conjoined towers of 47 and 35 floors each. The exterior draws inspiration from Japanese paper lanterns, with vertical fins playing on light and shadows. Both towers are connected via a sky bridge that can be accessed at levels 33A and 35, which are also where the facilities decks are located.
ADVERTISEMENT
Offerings at Lucentia Residences range from studio units to one- to two-bedders, from 454 to 859 sq ft. There are two configurations of dual-key units, comprising two bedrooms: one at 859 sq ft, and the other at 882 sq ft. Prices start from RM1,750 psf.
To date, over 95% of Tower 1’s 393 units have been sold, while Tower 2’s 273 units have been sold, says the developer. Of these, 65% of the units are purchased by Malaysians, while the remaining 35% are owned by foreigners: Chinese nationals make up 40%, followed by the Japanese (30%), Hong Kong nationals (15%) and Singaporeans (10%). The rest are from South Korea, the UK, and the Middle East. Tower 1 was launched in November 2016, and Tower 2 followed suit a year later. The development cost for this is estimated at RM736 million.
Entertainment hub and retail
Residents at Lucentia Residences can enjoy views of Kuala Lumpur’s city skyline on the facilities deck at Level 35 (Credit: EcoWorld)
To ensure the vibrancy of the mega-development, the developer has tied up with international brands for its entertainment hub. Mitsui Shopping Park Lalaport, a shopping mall occupying 1.4 million sq ft, will be brought in by Japanese-listed real estate giant, Mitsui Fudosan. There is also a 2,500-seat concert hall by Zepp Hall Network, a subsidiary of Sony Music Entertainment Japan. Other components of the hub include a 10-screen cineplex, and a banquet hall that can house up to 1,200 people.
The Bukit Bintang City Centre consortium will also feature Malaysian start-ups through Malaysia Grand Bazaar (MGB), a dedicated platform for local businesses to showcase their products. “We [aim] to create a local art and cultural centre through MGB and help start-ups that can’t afford the rental in shopping malls gain exposure,” Low Thiam Chin, CEO of Bukit Bintang City Centre Development, told EdgeProp Malaysia. “We are offering them bitesized kiosks from 100 sq ft, unlike most malls where tenants are required to take up at least 500 sq ft of retail space.” MGB has reportedly already attracted 40 tenants.
ADVERTISEMENT
Central location
The two towers at Lucentia Residences are connected via a sky bridge at levels 33A and 35, which are also where the facilities decks are located (Credit: EcoWorld)
Bukit Bintang City Centre is in a strategic location – it is close to shopping malls such as Berjaya Times Square and Pavilion KL; public transport stops like Hang Tuah Monorail station, Hang Tuah LRT station and Merdeka MRT station; medical centres such as Tung Shin Hospital and Prince Court Medical Centre. Education institutions nearby include Segi College Kuala Lumpur and Victoria Institution. Kuala Lumpur City Centre and KL Tower are within a 20-minute drive away.
The Pudu enclave today encompasses lowrise pre-war shophouses and apartments built in the 1990s. Many shophouses have been redeveloped into budget hotels, while some in the three- to four-star range include Furama Hotel, D’Majestic Hotel, and Hotel Sentral. Once completed, Bukit Bintang City Centre is set to be a major landmark in the neighbourhood.

EdgeProp International Property Show 2019

EdgeProp’s first International Property Show is taking place on 4 and 5 May 2019 at the Level 3 Concourse of Suntec Singapore Convention and Exhibition Centre. The International Property Show is an ideal starting point for first-time buyers who seek a better understanding of investing in overseas markets. Visitors can also expect exclusive discounts and offers at the show.
ADVERTISEMENT
Complimentary tickets can be obtained now at: http://edgepr.link/ips2019