KUALA LUMPUR: The city’s largest urban entertainment, food and beverage (F&B) and retail hub, The Arch, is expected to open to the public by end-2018.
According to the project developer, Focus Dynamics Group Bhd
, the RM85mil venture will begin construction by the third quarter of this year, and take about 18 months to be completed.
The Arch fronts Jalan Tun Razak on one end and is located adjacent to TREC KL, the headquarters of the RHB Banking Group and the Royal Selangor Golf Club.
Executive director Edward Leung said the five-storey building on 1.57ha, would have an estimated gross floor area of 530,000 sq ft, with gross lettable area of 435,300 sq ft.
“The Arch comprises retail lots cum showrooms, food and beverage outlets, a multi-purpose event hall, a Chinese restaurant and 800 parking lots,” he told reporters after the groundbreaking ceremony in Kuala Lumpur on Thursday.
The event was officiated by the Federal Territories Minister Datuk Seri Tengku Adnan Tengku Mansor.
Leung said the project cost included construction, renovation, fixtures and fittings, as well as working capital, adding, the company invested RM43.35mil in funding, while business partners invested RM41.65mil.
This works out to 51% and 49% of the total project funding requirement.
“Focus Dynamics” strategy is to continue breaking boundaries in creating the latest, and hippest concepts in F&B and lifestyle establishments.
This is not our first such project, neither will it be our last. We have proven our mettle in the Tropicana area and aim to do so in the Greater Kuala Lumpur region,” Leung said. - Bernama