City Motors
What we found
By November 2023 City Motors Group CEO Terence Chia had set a completion target of 2Q2024 for Alfa Bangsar, about three quarters later than the 3Q2023 completion date set in 2021.
The evidence
Delivery
NegativeAlfa Bangsar was topped off on 25 April 2024, with the developer stating it looked forward to delivering the project within that year and reporting a 99% take-up rate.
2 more findings
At the January 2022 launch of Alfa Bangsar, the RM450 million development was anticipated for completion in mid-2023.
City Motors Group officially opened the completed 42-storey Alfa Bangsar development and the 220-room Holiday Inn Kuala Lumpur Bangsar on 10 January; no certificate of completion and compliance date or vacant possession date for the serviced apartment buyers is stated.
Corporate continuity
PositiveCity Motors Group was founded in 1965, made property development its main focus after its Alfa Romeo franchise ended in 1980, and has completed Hon Residensi, D'Pines and Orchid Court in Ampang and Taman Mewah Prima in Bidor, as well as The Palm Residence in Singapore and Foo Yet Kai Building in Hong Kong.
2 more findings
City Motors Group, established in 1965, was once Alfa Romeo's sole distributor in Asia; after that franchise ended in 1980, property development became the company's main focus.
Sri Seltra Sdn Bhd, a City Motors Group subsidiary, has launched a second high-rise project, Bukit Bintang Gateway in Kuala Lumpur, which is still at the proposed stage.
Independent recognition
PositiveAlfa Bangsar, by City Motors Group, was among the Malaysian winners at the 19th Asia Property Awards Grand Final in Bangkok in December 2024.
