AN ICONIC 78-storey two-tower commercial development featuring the highest ferris wheel in South-East Asia, is set to be built at the fringe of Kampung Baru in Kuala Lumpur.
M101 Skywheel, the flagship development for developer M101 Entity Sdn Bhd, with gross development value of RM1.4bil, will also consist of more than 200,000 sq ft retail space and Planet Hollywood Hotel.
The ferris wheel, designed by Studio F.A. Porche, will be positioned on the 52nd floor and its highest vantage point will provide a bird’s eye view from 220m above ground.
It will also feature the world’s highest shopping experience with the SkyMall located between levels 48 and 52.
Present at its ground-breaking ceremony were M101 Entity founder Datuk Seth Yap Ting Hau, Federal Territories Minister Datuk Seri Tengku Adnan Tengku Mansor and Kampung Baru Development Corporation (PKB) chairman Datuk Affendi Zahari.
Seth said M101 Entity was focused on tapping property tourism and enhancing Malaysia as a tourist destination.
“The company’s mission is to build 10 buildings in 10 strategic locations in Klang Valley, with a total gross development value of RM4bil.
“We see big opportunity to bring foreign direct investment that will benefit not only the economy but also the retail industry. We hope to take advantage of that in small underdeveloped land in the city centre,” he said.
M101 has already launched two other projects, which are M101 Dang Wangi and M101 Bukit Bintang which will be completed in June 2017. M101 Skywheel is expected to be completed in 2022.
Tengku Adnan said M101 Skywheel would be a game changer in recent development plans of Kampung Baru.
“Kampung Baru is undergoing a major facelift and is slated to become the new Malay cultural centre as well as economic hub. The development of M101 Skywheel will also uplift Kampung Baru’s brand new identity, making it the next popular destination for Malaysians and tourists.
“M101 Skywheel’s unique landmark, the ferris wheel will certainly attract tourists from every corner of the world to visit this iconic building that will redefine the Kuala Lumpur skyline,” he said.
Affendi said the building and many other ongoing projects were catalysts to the transformation of Kampung Baru.
“With the MRT station construction starting soon and proximity to the city centre, surely Kampung Baru is set to become the place to visit in the future,” he said.