The Intermark, KLCC

The Intermark is a freehold integrated commercial development comprising two grade A office towers, a retail mall and a hotel located at the intersection of Jalan Ampang and Jalan Tun Razak. The name “Intermark” is derived from the phrase “Integrated Landmark”.

This mixed development is a refurbishment and redevelopment project of the iconic Empire Tower, City Square and Crown Princess Hotel, as well as a new office tower. Besides refurbishment and redevelopment, the developer adds that they will increase parking bays from 1,600 to 2,600 bays, expand gross floor space from 2.2 to 2.7 million sq ft, and improve traffic flow in the vicinity to make The Intermark accessible from all directions.

The project of The Intermark is valued at RM1.3 billion (excluding acquisition cost of RM760 million), and it is wholly-owned and developed by MGPA Asia Developments, a subsidiary of Macquarie Global Property Advisors (MGPA).

The first phase of The Intermark is redevelopment and rebranding of Empire Tower into Vista Tower. This newly refurbished 62-storey Grade A office tower has gross floor area of 755,000 sf with net lettable area of approximately 555,000 sf. Each typical floor has built-up size of 11,500 sf.

Vista Tower is equipped with destination lift control that reduce waiting times, new air-conditioning system, double-height air-conditioned lobby with its floor and wall are covered with marble and large windows, broadband, disabled-friendly features et cetera. MGPA will take most floors of the building for their headquarters, while the remaining is available for lease.

The second phase of The Intermark is the 28-storey DoubleTree by Hillton Hotel. It is the first DoubleTree hotel in South East Asia and just recently opened in August 2010. DoubleTree is an upscale hotel managed by the renowned Hilton Hotels Corp. The entire 571 rooms of the former hotel, Crown Princess Hotel were stripped and redone. Its facilities were expanded, and its lobby entrance was relocated.

Its retail centre, or known as Intermark Mall, consists of over 200,000 sq ft net lettable area that will accommodate about 100 retailers. Among targeted tenants are cafes, spas, gymnasiums, beauty shops and bookshops as the developer sees most visitors and patrons coming to Intermark Mall are coming from nearby area for leisure and lunch.

The new office building is called Integra Tower, the flagship of entire development. It is sited on the former Plaza Ampang building. Plaza Ampang was demolished for the 30 to 40-storey Integra Tower to allow the developer to build it from scratch. According to the developer, they are very confident on the building design by Aedes – which worked for them in other cities before. This tower is expected to be completed by 2012.

Property Details

• Name: The Intermark
• Address: Jalan Tun Razak, 50400 Kuala Lumpur
• Developer: MGPA Asia Developments (a subsidiary of MGPA)
• Completion Date: 2012 (estimate)
• Type: Mixed (Office, Retail & Hotel)
• Tenure: {Tenure}
• No. of Blocks: 4
• No. of Storey
• Vista Tower: 62
• DoubleTree Hotel: 28
• Integra Tower: 30-40
• Built-up: 2,700,000 sf
• Rental
• Vista Tower: RM8.50 psf

Facilities

• Vista Tower
• 24-hour access
• 24-hour CCTV monitoring
• Business lounge
• Meeting room
• Parking
• Lounge area
• Elevator
• Double glazing
• Temperature control

Analysis

With the right formula and loads of mojos, The Intermark might become a great commercial centre with a lot of amenities. Besides, the shopping mall is just right to have about 100 outlets to cater the patrons from the hotel and both towers. Hence, most office people do not like to have their lunch in crowded places like in KLCC and The Pavilion.