Datuk Bandar Kuala Lumpur has received an application for planning permission for a mixed-use development of a 42 storey consisting of 200 units of serviced apartments, 416 hotel rooms with a 7 storey podium and 3 levels of basement car park which involves change of use of land from residential to commercial in respect of Lot 201, Section 63, Jalan Kia Peng, Kuala Lumpur. Refer map.
In 2009, Ireka Corporation Berhad acquired a piece of freehold land measuring 43,559 sq ft (approximately 1 acre) for RM87.12 million (RM2,000 psf). The land is strategically located in the heart of Kuala Lumpur City Centre on Jalan Kia Peng, adjacent to the KLCC Convention Centre, and is less than 5 minutes walk to the Petronas Twin Towers and KLCC Park. The development is a joint venture between Ireka and Aseana Properties Limited.
