Can arts and culture rejuvenate KL real estate?
V Sanjugtha | 04 Oct 2019 00:30
The arts and cultural heritage actively define the space and land- scape of Melaka, Penang and Kuching,
but Kuala Lumpur has yet to leverage on its diverse inheritance, barely reaching 20% of its potential.
Creative industries play a key role in building the economy and identity of a successful city. The association between arts and culture, and property value has been long established, yet on the local front, its preservation in towns and cities with historical significance not only falls short, but fails to leverage on the economic potential largely impacted by tourist receipts.
Too often, the role of arts and culture is omitted from the development masterplan, resulting in the loss of many heritage structures such as the Pudu Prison completed in 1895 which earned a mention in the Guinness Book of Records for the longest mural in the world, the Bok House built in 1929 and the Eastern Hotel in KL, which was believed to have belonged to a son of the famed Kapitan Yap Ah Loy.
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