Metropolitan Lake Development (MLD) Sdn Bhd's maiden project, Keponggi Square, has sold 70 per cent of its units, thanks to the leadership of renowned developer Datuk Michael Yam.

Michael Yam is the chairman of MLD. He is also the immediate past president and patron of the Real Estate and Housing Developers' Association of Malaysia and advisor of Employees Provident Fund's subsidiary Kwasa Land Sdn Bhd.

He played a key role in transforming Mont Kiara into the modern township it is today.

According to MLD's general manager, James Yam, there was no need for a formal sales launch or extensive marketing to sell the project.

"This is a testament to the concept's demand and the good guidance priviledged to the team by both Michael Yam and Datuk Seri Utama Raja Nong Chik," he said.

Keponggi Square is a 2.75-hectare (ha) commercial shop lot project with a gross development value (GDV) of RM220 million that is part of the Metropolitan Waterfront masterplan.

It draws inspiration from Roponggi, a world-famous Tokyo tourist destination known for its holistic destination with integrated and bustling shopping, entertainment, and leisure locations.

Located next to the 101.21ha Kepong Metropolitan Park, the project is the next retail hub within the neighbourhood.

A groundbreaking ceremony to inaugurate the project was held recently.

Embellished by its Food, Beverage & Entertainment Activity Market/Place Making ("FB&E AM/PM") open piazza concept, Keponggi Square will house 73 retail outlets.

These outlets, according to James Yam, are positioned to present Keponggi Square as a holistic destination that will serve as Kepong's next up-and-coming lifestyle attraction.

He explained that the development's unique FB&E AM/PM open piazza design is based on combining an entertainment venue with a retail component to attract crowds from the surrounding area as well as the broader Kuala Lumpur area.

According to him, a budget of RM2 million has been allocated to sustain a two-year programme, including open-air concerts, bazaars, and art exhibitions.

"Keponggi Square is a development driven specifically through our open piazza concept that will complement our entire shop lot development. We placed a lot of emphasis on landscape architecture and creating a space for the robust surrounding community," he said.

The project will be completed in the first quarter of 2023.

The open piazza, according to James Yam, will feature interesting activities, celebratory and placemaking events that will help to establish Keponggi Square as a hallmark destination.

The objective for Keponggi Square, according to MLD director Raja Hamzah Abidin, is to create a development that will redefine Kepong.

"Keponggi Square is an open invitation for those within and outside of Kepong to join this unique community, which is quickly becoming a bustling township largely due to current and upcoming developments," Raja Hamzah said.

The development of Keponggi Square marks the first phase of the Metropolitan Waterfront Masterplan.

The concept, which spans 5.91 acres and has a GDV of RM750 million, includes a retail and residential ecosystem.

The subsequent phases of this master plan will include a condominium as well as affordable housing.

The developments will complement each other in giving attractive and functional amenities with a stunning lake view.