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#1 ·
KLCCH, QD Asia to develop commercial hub
Business Times
Published: 2010/05/14

KLCC (Holdings) Sdn Bhd (KLCCH) and QD Asia Pacific Ltd will jointly embark on two proposed new mixed commercial developments within the vicinity of the Kuala Lumpur City Centre, where the Petronas Twin Towers is located.

KLCCH and QD Asia Pacific will each have a 50 per cent equity stake in both joint ventures, both entities said in a joint statement.

Two joint venture agreements were signed today between KLCCH and QD Asia Pacific witnessed by Prime Minister Datuk Seri Najib Tun Razak and his Qatari counterpart, Sheikh Hamad Jassim.

The statement said the proposed developments were expected to be completed in 2015.

Under the terms of the agreements, the partners will embark on the proposed developments of Lot185 and Lot167/K, which are part of KLCCH's Development Master Plan for KLCC, into a mixed commercial hub comprising office, hotel, and retail space with a net lettable area of two million square feet.
wow that will be larger than Suria KLCC

KLCCH is a wholly-owned subsidiary of Petronas while QD Asia Pacific is a wholly-owned subsidiary of Qatari Diar Real Estate Investment Company, an investment arm of Qatar Investment Authority.

"We welcome and look forward to working with Qatari Diar on this investment and the joint venture in KLCC.

"The proposed developments mark another significant milestone in the development of KLCC, adding to its vibrancy as "a city within a city"," said President and Chief Executive Officer of Petronas Datuk Shamsul Azhar Abbas.

"We are excited and look forward to participating through this significant project in the development of Kuala Lumpur City Centre as part of our investment expansion strategy.

"We believe the project will also strengthen the relations between both countries," said Qatar Diar’s Chief Executive Officer and Managing Director Ghanim Al Saad.

Read more: KLCCH, QD Asia to develop commercial hub http://www.btimes.com.my/Current_Ne...100514194812/Article/index_html#ixzz0nu6IXb38
 
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#30 ·
Hooray !! Started !!:banana::banana:


Sunway wins RM304mil carpark project

20-3-2013



PETALING JAYA: Sunway Bhd has been awarded a RM304mil contract from Cititower Sdn Bhd to construct and complete the North East Car Park located underneath KLCC Park.

In its filing with Bursa Malaysia yesterday, Sunway said the contract, which was given to Sunway Holdings' wholly owned unit Sunway Construction Sdn Bhd, would also include the associated works for the proposed Lot 185, Lot 167(K) and Lot 176 mixed development at Persiaran KLCC.


Cititower is a joint-venture company between KLCC (Holdings) Sdn Bhd and QD Asia Pasific Ltd.

Works for the Persiaran KLCC project will include excavation works, construction and installation of diaphragm wall, foundation and piling works, construction of six levels of basement car park and other associated works.

The project is expected to start once possession of the site has been handed over, with a construction period of 178 weeks thereafter. Sunway expects the project to contribute to earnings from the financial year ending Dec 31, 2013 onwards.


“The proposed project is subject to normal construction risk of materials price fluctuation. However, with the past experience and expertise of Sunway Construction in construction projects in Malaysia, this risk could be mitigated,” it said.

This was the second major project won by Sunway Construction this month. Last week, it clinched a RM452.5mil project from Syarikat Prasarana Negara.

More: http://biz.thestar.com.my/news/story.asp?file=/2013/3/20/business/12861782&sec=business
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#36 · (Edited)
To be precise, Gulf investors are the main players in several of the recently announced iconic developments.. This project, and also the world's first Harrod's Hotel in KL are courtesy of Qatar state investment agency.

another proposed supertall in KL's new financial district will be funded by Abu Dhabi's investor.

Other than foreign investors, our economy is also being driven by strong domestic demand.


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#46 ·
KLCC starts work on RM5b project

23-4-2013


KLCC (Holdings) Sdn Bhd will develop a new mixed-commercial project at the eastern corner of the Kuala Lumpur City Centre with a gross development value (GDV) of over RM5 billion.

According to group chief executive officer Hashim Wahir, the new development is part of the company's master plan for the iconic mall.

It will be undertaken by the company in a 50:50 joint venture with the Qatari Investment Authority via QD Asia Pacific Ltd, a subsidiary of Qatari Diar Real Estate Investment Co, the investment arm of Qatari Investment Authority.

The construction, which started yesterday, is expected to be completed by end of 2017.

The project will be developed on a 1.6ha between Suria KLCC and the Asy-Syakirin mosque, facing the KLCC park.

The mixed commercial development consists of a 76-storey hotel, comprising serviced apartments, residences and associated facilities; 64-storey office units; six-storey retail podium; and basement car park.

The architecture of the new building will be based on a contemporary design by Cesar Pelli, the architect of the Petronas Twin Towers.

Hashim said the development will include pedestrian connectivity to the surrounding areas with major gateways and public spaces.

"The parking area will be connected to the existing underground link at Suria KLCC," he told reporters after the groundbreaking here yesterday.

On another development, Hashim said the Asy-Syakirin mosque will also undergo an extension work to accommodate the growing congregation.

He said the construction is expected to start in June this year and completion is scheduled for September 2016.

"With this extension, the Asy-Syakirin mosque, when completed, will be able to accommodate an additional congregation of 7,000," he added.

The extension work involves additional praying area at the main area and concourse level of 1,850 sq metres and 4,800 sq metres respectively.

More: http://www.btimes.com.my/articles/FIVEBIL/Article/#ixzz2RFFtbl9g
 
#53 ·
Sunway bags RM222m job in KLCC


Posted on 30 April 2013 - 05:37am

sunbiz@thesundaily.com

PETALING JAYA (April 30, 2013): Sunway Bhd has bagged a RM222 million contract from Cititower Sdn Bhd for Package 2 of a proposed RM5 billion mixed commercial development in Kuala Lumpur City Centre (KLCC).

Sunway told Bursa Malaysia yesterday that the contract, clinched via its indirect unit Sunway Construction Sdn Bhd, is for Package 2, comprising construction and completion of piling and sub-structure works as well as associated works for Lot 185 and Lot 167(K) of the proposed development.

"The proposed development is expected to commence upon handing over of site possession which is to be determined later, with a construction period of 82 weeks. It is expected to contribute positively to the earnings of Sunway Group from the financial year ending Dec 31, 2013 onwards," the group said.

Cititower, the developer of the proposed development, is a joint venture company between KLCC (Holdings) Sdn Bhd and QD Asia Pasific Ltd.

The entire project comprises three plots of land within KLCC namely Lot 185, Lot 167 and Lot 176, totalling 4 acres. It has a total gross floor area of 3.8 million sq ft and will comprise a luxury hotel, a 64-storey Grade A office tower, a six-storey retail podium, a basement car park as well as the extension of the existing Asy-Syakirin Mosque.

Last month, Sunway had secured a RM304 million contract from Cititower for Package 1 of the project which includes the construction and completion of North East Car Park underneath KLCC Park and associated works for Lot 185, Lot 167(K) and Lot 176 of the KLCC development. The entire project is expected to be completed by end-2017.


http://www.thesundaily.my/news/683354
 
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