SINGAPORE, May 15, 2023 /PRNewswire/ -- Genting Highlands is set to welcome King's Park, a brand-new development located at 1,865m above sea level and only 45 minutes' leisurely drive from Kuala Lumpur. With a history of more than 60 years, Genting Highlands is an icon in Malaysia, made popular as a tourist destination that is patronized by over 30 million tourists annually.
At the opening ceremony of King's Park gallery today at Suntec Exhibition & Convention Centre, were the management team of King's Park, Mr Jayandren Subramaniam, Chief Executive Officer, Mr Thanesh Jayandren, Executive Director and Mr Francis Wong, Director of Theme Park and Entertainment.
In his speech, Mr Thanesh said, 'King's Park is the next crown jewel of Genting Highlands. It is the heart of King's Park integrated entertainment hub where people will come to play, stay and enjoy. King's Park is a RM10 billion gross development value project that will attract even more visitors to Genting Highlands that is projected to have 53 million visitors annually by 2026. It will not only elevate tourism in Pahang but also in Malaysia.'
Bird’s-eye view of King’s Park at King's Park Integrated Entertainment Hub in Genting Highlands
Leveraging on the already high tourists' arrivals at Genting Highlands, King's Park a development by King's Park and in partnership with Yuk Tung Group, has grand ambitions. The project by King's Park spans nearly 61-hectare of freehold land, is a joint venture between King's Park and the Association for the Promotion of Higher Education in Malaysia or APHEM. The developer has a mega development plan for an integrated entertainment hub that includes a unique blend of commercial and recreational opportunities.
Situated at a strategic location, King's Park is just next to the Awana Golf Course and is seated on gentle undulating slopes. Scheduled to open in 2026, King's Park is also surrounded by numerous luxurious residences developments, golf course, Genting Premium Outlet, and it is mid-way to the peak of Genting Highlands. Like its neighbours, King's Park enjoys cool weather of 15 to 25 degrees Celsius throughout the year and is surrounded by a 130-million-year-old jungle rich with flora and fauna, waterfalls, and fresh air.
The creation of King's Park is bold. It is the first aspect of King's Park development. It features a 2,000m stretch of cutting-edge pedestrian street shops totaling 360, each cleverly designed architectural retail shops that feature an excellent combination of colonial and vintage designs. King's Park development consists of 12 blocks of retail shops, each block consists of freehold stratified titles - each with its own identity, name and façade designs. The size of each unit is an average 7m by 23m. Some units on the ground floor have exceptionally high ceiling measuring 6.5m that is possible to include a mezzanine floor. The beauty of these blocks of retail shops are designed to face the river with alfresco terraces and with duo entrances to allow free flow and easy access for visitors to the shops.
Artist’s impression of King’s Park’s (partial view) of the 2000m pedestrian walks and a lighted riverbed adorned with various waterfalls, as well as a stretch of sophisticated alfresco dining.
What distinguishes King's Park from the rest of the retail shops available in Genting Highlands is that it is built in the vicinity of soon to be an integrated entertainment hub. Mr Francis Wong, explained, 'We are very excited to be working with international acclaimed brands and entertainment experts to bring visitors new experiences that is not yet available in Malaysia. With massive outdoor space, not only will there be many outdoor activities such as eco-sports, mountain biking trails, but expect a whole new experience when we open our very first biggest in the world terrarium. It is set to take entertainment to the next level.'
With nature being a major advantage at King's Park, the world's largest terrarium is a beautiful display based on the legendary world of Avatar that is meant to become a global attraction. This new element will be integrated with a 2000m pedestrian walks, and a lighted riverbed adorned with various waterfalls, as well as a stretch of sophisticated alfresco dining at King's Park. The beautiful riverfront outdoor dining options and pedestrian-friendly routes will provide visitors with a comprehensive and unique experience, confirming King's Park's position as a premier destination.
To emphasize on the magnitude of the integrated entertainment hub project, there will be an approximately 18,580sqm of 'Truly Asia Cultural Streets'. The 'Truly Asia Cultural Streets' at King's Park will be the equivalent to those busy metropolis of New York, Osaka, or Hong Kong, where neon lights and laser lights displays play an important part in creating life and excitement. The streets will be alive with activities from dusk to dawn, elevating commercial prospects to a new level. This cultural labyrinth is designed to encapsulate the spirit of Asia, showing its diversity and energy. The 'Truly Asia Cultural Streets' will not only serve as a major tourist destination in Malaysia, but it will also provide a platform for local retail and hospitality businesses to thrive.
Another remarkable element of King's Park is its entertainment activities. Imagine the laughter and pleasure emanating from the indoor and outdoor internationally branded theme parks and attractions as families from all over the world build lifelong memories.
In addition, with Muslim communities constituting over 65% of Malaysia's population, King's Park proposes to include an international retail halal hub and a halal luxury boutique hotel. This will certainly attract international Muslim tourists from neighbouring countries if not the world. This inclusion will promote diversity and inclusivity, tapping into the rapidly growing market for halal-friendly travel and dining options.
Indeed, one of King's Park's distinguishing features is its ability to provide experiences. Every moment spent in King's Park will be unforgettable, whether it's witnessing the world's largest terrarium or relishing the various gastronomic delights by the riverfront with several waterfall outdoor dining options.
With so much to offer, a day trip to King's Park will not be sufficient. For those who want to stay longer, King's Park raises the bar by offering various five-star hotels, including the luxury Swissôtel Genting Highlands. The presence of internationally famous hotel brands within King's Park adds to its attraction. These hotels, synonymous with elegance and world-class service, provide tourists with a comfortable and elegant stay. These premium hotels cater to the refined preferences of both local and integrated affluent customers, increasing King's Park as a global vacation destination and its overall property value.
In anticipation of high tourists' arrivals, King's Park has reserved 5,000 car parking bays, of which 50% will be reserved for EV users in its effort to encourage low fuel emission. This significant investment in infrastructure indicates the developer's attention on guest comfort and convenience.
As King's Park evolves into an integrated entertainment hub that attracts international tourists as well as locals, it is estimated that 20% of these tourists that patronizes the popular Resorts World Genting, SkyWorld Theme Park and the Genting Premium Outlet, or more than 10 million possible customers, will visit King's Park each year. This figure alone indicates the potential of the retail and hotel sectors at King's Park, giving an attractive opportunity for astute investors to capitalize on, and significant footfall ensures a vibrant atmosphere conducive to business growth and profitability.
Currently in Genting Highlands, there are 65 existing established shophouses nearby King's Park namely at Gotong Jaya and Genting View to fulfill the needs of 53 million tourists to Genting Highlands. The shop houses have seen a yearly capital appreciation of more than 30% and a yearly rental yield of more than 20%. As an investor, your potential gains do not stop with rental returns or financial appreciation from property. This tendency is likely to continue as the integrated entertainment hub draws more visitors.
Of course, King's Park's attractiveness isn't limited to its tourists. The awareness of the surrounding neighbourhood adds to King's Park's overall lifestyle proposition. With an expected eventual catchment of over 700,000 people within a 5km radius and a steady stream of local consumers year-round, the integrated entertainment hub is perfectly positioned to service a wide range of lifestyle demands, from shopping and dining to entertainment and leisure. This is a captive audience that businesses in King's Park can tap into, ensuring the area's vibrancy even during off-peak visitor seasons.
With a limited number of retail shops in Genting Highlands, King's Park will prove to be a gem and the ideal investment. In simple words, an investor is not buying a retail shop at King's Park but a property that comes with a whole portfolio of international brands and attractions that will elevate the price of the property and in addition with assured and immense business opportunities. As an investor, you will be entering a market with a proven track record of success.
In addition, Kings' Park offers a safe and secure investment opportunity that is guaranteed by major banks who are prepared to finance real estate transactions. The backing of major banks in supporting real estate acquisitions in King's Park is just another indication of the project's potential. The support of major banks for financing real estate purchases in King's Park lowers the barriers to entry for potential investors even further. Given its unique features, robust visitor projections, and expected growth in property values, investing in King's Park is likely to yield handsome returns.
What differentiates King's Park is its dedication to sustainable development. King's Park is a great believer in environmentally friendly development. Investing in King's Park means aligning your investment with these objectives, ensuring that your investment supports a project that is not just profitable but also environmentally sensitive and responsible. As a conscientious investor, the sustainable development standards adhered by King's Park, will allow you to actively contribute to the environment while enjoying the financial rewards.
Overall, King's Park represents an exceptional opportunity for both seasoned and prospective investors. With its strategic location, various attractions, eco-friendly philosophy, and strong support from financial institutions, King's Park stands out as a Genting Highlands gem.
Don't miss out on this excursion into the future of sustainable tourism and lifestyle. Get your slice of King's Park today. So why wait? Make King's Park your next investment destination and watch your money flourish as the Genting Highlands' crown jewel.
ABOUT King's Park
Some of the most prestigious names in Malaysia real estate developers are Pavilion, Tropicana, Aset Kayamas, Kerjaya Prospek, and OSK. Alongside with these top developers is prominent developer, King's Park. King's Park is reshaping Genting Highlands with its upcoming construction of hotels, luxury high-rise apartments, convention centers, retail stores, and new forms of entertainment. Located in the heart of Genting Highlands, the King's Park is where you'll find King's Park, the world's largest Sustainable Eco Development. King's Park is the project's focal point; it features a 2,000m stretch of cutting-edge pedestrian street shops. King's Park is conveniently located about 34 kilometers from the heart of Kuala Lumpur and can be reached within 45 minutes by car. The neighborhood was planned to complement its natural setting by providing infrastructure and services with a green focus. To accommodate the anticipated influx of over 50 million tourists to Genting Highlands by 2026, King's Park is planning to develop a wide variety of attractions, shops, thematic parks, and restaurants. There are almost 61-hectares of tourist and residential development in the area, guaranteeing a first-rate tourism hub in green spaces for everyone.
ABOUT YUK TUNG GROUP
Yuk Tung Group is an innovative real estate development firm that has been in business since 1997, with a focus on creating luxurious homes and thriving neighborhoods that improve the quality of city life and stimulate the economy. Our dedication to quality and long-term viability has resulted in us being recognized for our outstanding work through multiple awards of distinction. The Yuk Tung Group is a premier property developer with a wide range of residential, commercial, and mixed-use projects that feature our signature mixture of cutting-edge design, meticulous craftsmanship, and in-depth knowledge of the local market. In the many facets of the property development sectors, our team of seasoned professionals is unrivalled. Their ability to work across disciplines ensures that projects are well thought out, carried out, and managed, ultimately delivering results that are exceptional. The Yuk Tung Group has been recognized for its commitment to quality having won several awards, such as the Asia Pacific Property Awards Development for the Royce Residence KLCC and the success in the hospitality industry with the Crowne Plaza KLCC. Our utilization of renewable energy sources, recyclable products, and other eco-friendly innovations demonstrates our firm dedication to a greener, more responsible future. As The Yuk Tung Group expands, we will never lose sight of our commitment to doing excellent work and living by our basic values. Our mission is to build excellent buildings and flourishing communities that benefit both the residents and the company's investors. Discover the world of Yuk Tung Group, where cutting-edge architecture, luxurious interiors, and an emphasis on environmental responsibility come together to leave a legacy of unmatched quality.
Source:
Highlands ParkCity
