|PM launches RM15b KL Metropolis|
|Business & Market 2011|
|Tuesday, 25 October 2011 13:46|
KUALA LUMPUR: Prime Minister Datuk Seri Najib Tun Razak launched the KL Metropolis, which will have gross development value (GDV) of RM15 billion, on Tuesday, Oct 25.
The launch of the massive project, held at the Matrade Exhibition and Convention Centre (MECC), would involve the development of 75.5 acres by the master developer Naza TTDI Sdn Bhd.
Naza TTDI said KL Metropolis would be the city’s new international trade and exhibition district that houses the new Matrade Centre, which would be Malaysia’s exhibition centre, and other mixed development components.
The Matrade Exhibition Centre will spread over 13.1 acres. Development of the remaining 62.4 acres would be in three phases over 15 years. Overall development is expected to be completed by 2025.
Naza TTDI chairman SM Nasarudin SM Nasimuddin said: “The launch of KL Metropolis marks another milestone in Naza TTDI’s impressive portfolio and puts us in the right course towards becoming a premier property developer in Malaysia. It is our hope that KL Metropolis will contribute significantly towards turning Kuala Lumpur in to a liveable, world-class city.”
Nasarudin, who is also the joint group executive chairman of the Naza Group, said the project has an overall gross development value (GDV) of RM15 billion.
The first phase would include residential and office towers and a regional retail centre slated for completion by 2015 and the Matrade Centre to be completed the following year.
The design team at Naza TTDI together with international architect firm Skidmore, Owings, and Merrill -- famed for developments such as Burj Al-Khalifa, Dubai and Canary Wharf, London -- collaborated to create the master plan for KL Metropolis, which is based on sustainable development principles.
Among those present at the launch were Minister of International Trade and Industry Datuk Seri Mustapa Mohamed and his deputy, Datuk Mukhriz Mahathir, Dewan Negara president Tan Sri Abu Zahar Nika Ujang, Matrade chairman Datuk Mah Siew Keong, the joint group executive chairman of the Naza Group of Companies SM Nasarudin SM Nasimuddin and Datuk Wira SM Faisal Tan Sri SM Nasimuddin and the executive deputy chairman and group managing director of Naza TTDI SM Faliq SM Nasimuddin