From an open cast tin mine to Palace of the Golden Horses
Mines Resort City
MINES Resort City is a famous resort city in Malaysia, located south of the federal district of Kuala Lumpur in Seri Kembangan, Selangor. Once the world's largest open cast tin mine, the MINES now consists of apartment buildings, shopping centre, hotels, business complexes and parks connected by an artificial canal. MINES Resort City was formerly a site of the Hong Fatt Mines, which was the largest open cast tin mine in the world, covering 1,300 acres (including the lakes).
From an open cast tin mine to Palace of the Golden Horses
In line with this objective, the first component to be developed was the golf course ensuring that vast tracts of land were rehabilitated to greens. With the vision and foresight of CHHB and the main aim of promoting tourism and becoming a destination in itself, the focus for the overall development was also on MICE (meetings, incentives, convention and exhibition) and an exhibition centre was also developed and completed in 1997. To complement the tourism theme, a five-star hotel, Palace of the Golden Horses with a distinctive architectural design and The Palace Beach and Spa with a man-made beach and swimming lagoon were built. Other components of development completed to date within the MINES Resort City are the MINES Shopping Fair and a theme park named MINES Wonderland.
Dubbed the Seven Wonders of Malaysia, the MINES Resort City comprises the following: The MINES Wonderland, The MINES Resort & Golf Club, The MINES Waterfront Business Park, The Palace Beach Resort & Spa, The Malaysia International Exhibition & Convention Centre (MIECC) and The Palace of the Golden Horses. Offices at the MINES Waterfront Business Park were developed to provide business accommodation within a scenic and conducive working environment with the fabulous view of the lake.
The bungalow plots are designed around the golf course with a limited number of only 200 plots. The graph shows the capital appreciation enjoyed by this development over the last 17 years. The developer philosophy is creating value to the customer through continuous enhancement, beautification and maintenance to ensure continued sustainability and capital appreciation.
Another successful component is the serviced apartment development comprising 900 units within 5 blocks designed in a unique setting with a water canal and attractive rooftops. These achieved sales prices are unheard of in the locality and due to the market positioning, branding and potential value enhancement; these projects have attracted purchasers who believe in the development. The development success is also a result of its good accessibility.
To date, after nearly 20 years of development, 70% of the total area has been developed and because the developer is conscious of supply and demand factors, every single component is thoroughly thought out and planned prior to implementation. JLW has provided advisory services to the developer to ensure that the components of development planned are well received by the market and drive sustainable growth, which investors are benefiting from.
