PETALING JAYA: Metropolitan Lake Development’s (MLD) commercial shoplot development Keponggi Square (pix) in Kepong has seen an uptake of 70% from discerning buyers.
MLD held a groundbreaking ceremony to inaugurate Keponggi Square, its maiden project, which will be part of the Metropolitan Waterfront masterplan. Earmarked with a gross development value (GDV) of RM220 million, Keponggi Square is slated for completion in Q1’23.
Located right next to the Kepong Metropolitan Lake, the 6.8-acre development is poised to be the next retail hub within the neighbourhood. Embellished by its Food, Beverage & Entertainment Activity Market/Place Making (FB&E AM/PM) open piazza concept, Keponggi Square will house 73 retail outlets.
These outlets are poised to position Keponggi Square as the next up and coming lifestyle spot in Kepong. The development’s unique FB&E AM/PM open piazza concept is predicated on merging an entertainment locale with the retail component to draw in crowds not only from the immediate vicinity but also the greater Kuala Lumpur area. A budget of RM2 million has been allocated to sustain a two-year programme comprising open air concerts, bazaars, art exhibitions and more.
MLD general manager James Yam said being 70% sold without an official sales launch and much promotion is a testament to the concept’s demand and the good guidance priviledged to the team.
“Keponggi Square is a development driven specifically through our open piazza concept that will complement our entire shop lot development. We placed emphasis on landscape architecture and creating a space for the robust surrounding community. When completed, the open piazza will host exciting activities, festive and placemaking events that will make Keponggi Square a landmark destination.”
The development of Keponggi Square marks the first phase within the Metropolitan Waterfront Masterplan. The broader 14.6-acre masterplan with a GDV of RM750 million comprises an ecosystem of retail and residential components. The next phases of this masterplan will include a condominium as well as affordable housing within the parcel.