Alfa Bangsar officially launched and reached almost the 20th floor at Jalan Maarof in affluent Bangsar. The launch marks a new milestone for the City Motors Group of Companies (CMG) as the 450 million projects should have been carried out much earlier if not for the Covid-19 pandemic.
The Senior Works Minister Yang Berhormat Dato’ Sri Haji Fadillah commended CMG for its determination in proceeding with the project when other developers were held at bay by movement restriction. “Property launches are few and far in between, especially now that the Omicron variant of Covid-19 virus is spreading fast. I commend City Motors Group for being able to arrive at this milestone moment and to have accomplished your plan to hold the launching ceremony today. It is a testament to your outstanding success,” he said.
During the launch, he also added The Covid-19 pandemic had caused a lot of disruption in the supply chain and businesses are facing additional operating costs incurred to meet the requirement to adhere to anti-Covid infection compliance by the Health Ministry. On top of this, building material prices have increased, labour is short.
“I am aware that many developers have had to put off their property launches until a time when the economy has recovered. Owing to these reasons, we can understand why there were few properties launches since the pandemic hit the country in March 2020,” he said.
“I salute like-minded enterprising developers such as Dato’ Dr. Foo for their courage and determination to proceed with their projects amid the pandemic and I await the opportunity to hear your tales of derring-do,” he said at the official opening of the project and sales gallery.
Fadillah said City Motors Group of Companies, in spite of its name associated with automobile business, has been involved in property development over the past 40 years. Through its subsidiary Sri Seltra Sdn Bhd, City Motors Group has developed Taman Nirwana, converting a small kampung into a new suburban township with high-value landed real estate and high-rise condominiums.
The two projects with a combined GDV of RM2 billion are expected to help revitalise the country’s economy while the spill-off effects would also benefit over 140 supporting industries. In that respect, City Motors has become inspiring for other stakeholders and akin to being a trailblazer stamping its footprint into the horizon.
The Chief Executive Officer of City Motors Group’s Property Division, Terence Chia said Alfa Bangsar sits on the few remaining freehold land in a premier locality and the offer of sales of only 178 “limited edition” serviced apartments.
The City Motors Group has plans to develop over 300 acres of landbank in Penang, Kuala Lumpur, Cheras, Perak, and Pahang it owns.
Meanwhile, The Director Foo Yit Tung, the grandson of CMG chairman, said Alfa Bangsa is a mixed-use development and its completion marks the beginning of a new adventure for the Group. “We seek out any opportunity to maximize the prime freehold land we own; not just in Bangsar but also in another prestigious location in Bukit Bintang.”