Genting Highlands’ latest retail offering, King’s Park, targets Singapore investors

myecaltura May 26, 2023 0

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Genting Highlands is expected to experience a visitor surge this year, thanks to the return of Resorts World Genting’s pre-pandemic levels of 30 million annually. To capitalise on this, Highlands Park City, a RM10 billion ($2.94 billion) resort development, located 5km away, has unveiled its first phase: King’s Park. This features 12 blocks with 360 strata-titled, three-storey shop lots for sale, with an average size of 1,733 sq ft. Dual frontage ensures each shop lot has both pedestrianised boulevard/riverbank and road access. Prices start from RM2,588,888 ($788,888).

Perched 1,865m above sea level in an hour’s drive from Malaysia’s capital city, Kuala Lumpur, Genting Highlands is an unparalleled destination for all kinds of entertainment. Between its hotels, casinos, theme parks, restaurants, shopping malls, and other venues, it is expected that 30 million visitors will return annually this year, resuming its impressive pre-pandemic numbers.

Taking advantage of this surge in visitors is Highlands Park City – a RM10 billion ($2.94 billion) resort development located 5km from Genting Highlands. Comprised of 120 acres, the privately-held project offers 360 strata-titled, three-storey shop lots in its first phase, King’s Park. Each shop lot features dual frontage, with a 6.5m ceiling height and an average size of 1,733 sq ft. Prices start from RM2,588,888 ($788,888).

Highlands Park City’s Kingdom Park also has an “Truly Asia” themed experience in store for its visitors, which includes 200,000 sq ft of retail space, LED light shows, and a pedestrianised street. Plus, it will benefit from the presence of other nearby developers like OSK Property, Tropicana Corp, Aset Kayamas, and Pavilion Group.

At the centre of the development will be an executive from Tesco, who’s been hired to curate the right mix of retailers and F&B tenants – bringing a Clarke Quay vibe to King’s Park with a temperature of 20 degrees. Furthermore, the developers are rehabilitating the river and waterfalls within the area and installing lights to promote outdoor dining.

Highlands Park City’s second phase will feature a mix of international hotel towers (including Swissotel Genting Highlands) and luxury villas. The third phase is dedicated exclusively to wellness, and includes two high-rise towers. The shop lots of King’s Park are estimated to be completed in 2H2026.

Overall, the development offers investors enormous potential, offering a gross rental yield of 7.4%+ per annum. Highlands Park City is the perfect place to take advantage of the Genting Highlands’ expected visitation levels – making it a premier destination for a unique shopping and entertainment experience.

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