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Old December 22nd, 2013, 07:35 AM   #21
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Alabbar eyes Asian property

Posted on December 21, 2013 | 460 Views | Topic : Property News.


BY RISEN JAYASEELAN


Mohamed Alabbar, founder and chairman of Emaar Properties.

The man behind the development of the Burj Khalifa has his eyes set on Asia, Malaysia in particular.

To Mohamed Alabbar, one of the biggest names in the Arab business world, Asia is an obvious choice for his expansion, considering the huge amount of growth taking place here.

“I would like to build a new version of downtown Dubai in Kuala Lumpur, Jakarta, Bangkok. We have a proven model,” Alabbar tells The Star in his Dubai office on the sidelines of a media trip organised by Alabbar and his Emaar Properties company.

Already a local media report has linked Alabbar with the RM6bil Tradewinds Centreproject in Kuala Lumpur, via a natural team-up with his long time business partner Tan Sri Syed Mokhtar Al-Bukhary.

But there could be more. Insiders tell StarBizWeek that Alabbar could also be eyeing the sprawling Bandar Malaysia project by 1MDB Real Estate RE (1MDB RE). Then there is the likelihood that Alabbar could do something in Iskandar Johor.

Alabbar declines to comment on anything specific but concedes he is excited about the possibilities in Malaysia.

Alabbar and his Emaar Properties group, the company he founded in 1997 and remains in its drivers seat as chairman, are known for their audacious achievements in building key landmarks in Dubai, the world’s tallest man-made building, the Burj, and the largest shopping and entertainment project, The Dubai Mall.

The Burj is also the centrepiece for Downtown Dubai, hailed as Dubai’s most prestigious square kilometre and which is also home to the iconic Dubai Fountain and Burj Park. Part of the Burj’s development includes the Armani Hotel Dubai and the world’s highest restaurant, At.mosphere.

But perhaps the greatest achievement of this business cum residential complex is the fact that it literally “rose out of the desert” and is growing everyday.

Alabbar rattles off the numbers: on Dec 8, 2012, (exactly a year ago) Downtown Dubai enjoyed 166,000 arrivals. “Yesterday (Dec 8, 2013) we had 200,000,” he says.


Burj Khalifa.

“Every city needs a development like this, to show off to its people how something so spectacular can be created, and in Dubai’s case, from literally a desert town,” Alabbar says.

He is right. Downtown Dubai is impressive and teeming with visitors of different nationalities.

By Emaar’s account, the Dubai Mall is the world’s most visited shopping and entertainment center, with an average footfall of 6.4 million per month and with 38.4 million visitors in the first half of 2013. This means its full year number is going to beat the already impressive 65 million visitor number of 2012.

Then there are the daily queues for the not-to-be-missed sights: going up to the Burj’s observation deck (no surprise that that’s the tallest in the world as well) and watching the exquisite evening shows of the Dubai Fountain.

Alabbar’s model for success seems simple enough: learning from others and using the best of breed of designers, architects, engineers and the likes.

Interestingly, one of the first batch of consultants flown down to Dubai early on this project was a team responsible for our very own Petronas Twin Towers.

But it seems though that while Alabbar and team studied many projects, including Paris’ Avenue des Champs-Elysées, he particularly paid attention to learning from past mistakes.

Unlike the Petronas Twin Towers, the Burj is placed in the centre of Emaar’s own developments, ensuring that they get the best effects of having the tallest building in their midst rather that giving that luxury up to other developers who seemingly get a free ride.

The shortcomings of that luxury street on Paris was the shortage of parking bays and public toilets. No problem. Downtown Dubai used their underground levels to fill this gap: 5000 parking bays, 50 toilets and numerous mosques.

A lot of time and money goes into detailed planning and execution. “It doesn’t matter if we make slightly lesser profits by going the extra mile with our work. We are passionate about what we do,” he says.

The Emaar group has also turned other parts of Dubai into high-end themed residential complexes.

According to one report, Emaar had delivered an average of US$1.8bil worth of projects every year for the last 13 years.

But things had not looked so sanguine just four years ago when Dubai suffered a crash, with property prices plunging by nearly 60%.

Help from neighboring Abu Dhabi underpinned Dubai’s recovery and since then, things are looking up, with property prices rising around 40% this year alone, according to one report.

Incidentally, Dubai tops a recently-released rating by London based property researchers Knight Frank, as the city enjoying the best prime property price rises for 2013 and 2014 (forecast).

Alabbar is steering Emaar to venture into the rest of the world, including Turkey, India, Pakistan and the US and Canada.

But Asia is increasingly on his radar. Alabbar was quoted in a Middle East media report recently as saying he wants to build in Asia, something taller than the Burj.

When asked about this he tells SBW: “I would love to. But it’s not just a building. You will need to create an entire ecosystem around such a monument. You will need around 300 to 500 acres of land and be right smack in the cities of Kuala Lumpur, Singapore, Bangkok or Jakarta.

Interestingly, Alabbar says there such sites do exist in some of these cities, even Kuala Lumpur but gives no further clues. “I know my business, I’ve been studying these places for a while now and plans are afoot,” he says.

‘Building iPhone7’

Alabbar though is quick to point out that he’s not merely looking at building another Downtown Dubai.

“That’s iPhone5. I am looking at creating the ‘iPhone7’. It will look bigger and better,” he says, applying the metaphor of the Apple product to his property development plans.

Tradewinds Centre, Bandar Malaysia and Iskandar are all possiblities

Already reports are out that Alabbar has set up a company with Syed Mokhtar called Tradewinds International to undertake the RM6bil Tradewinds Centre project, which will be on an 8.58-acre site and will offer 5.5 million sq ft in gross floor area in a mixed development project.





More interesting perhaps is Bandar Malaysia. This is how it is described on 1MDB’s website:

“The 495-acre Bandar Malaysia is envisioned to be an inclusive, public transit-oriented city that is designed as a walkable community through a series of safe, secure and pleasant pedestrian and cycling networks, set against a backdrop of open spaces and greenery.”

Clearly, this is a dream project for any major property player especially Alabbar with its track record in Dubai. Aside from that, Alabbar could also be teaming up with Syed Mokhtar on other parcels of land in the country which are owned by companies linked to the latter.

On Iskandar Malaysia, Alabbar says: “I’m looking at a few things and I’m watching the laws that are coming into play such as the new rules that impact foreign buyers and how this is playing out on the Singaporean buyers for example.”

Alabbar is no stranger to Malaysia.

Aside from his partnership with Syed Mokhtar – the two have also announced a venture to build a mining company focused on Africa – Alabbar had at one point been in the driver seat of UM Land Bhd when it was poised to grow its township developments in the Klang Valley and Iskandar Johor.

But Alabbar didn’t stay long. “I was stretched, so many things were going on in Emaar so I had to give it (UM Land) up.”

Now though things could be different. Alabbar reveals he’s making frequent trips to Kuala Lumpur and even has a swanky new office built in the city. He’s certainly worth watching closely.





The CEO who doesn’t sit

THE 45 minute-meeting with Mohamed Alabbar at his office in Dubai was an entertaining experience.

The fast-talking 50-year old is full of energy. His views are, let’s say, unexpected.

He had just met with Pope Francis a few weeks prior and was proud to share the photo opportunity with us. Alabbar says he has great respect for the Pope for his efforts at inter-religious dialogue. Alabbar also talks about the lack of strong and progressive leadership among some Middle East countries. Alabbar is a close confidante of Dubai’s ruler, Sheikh Mohammed Rashid al-Maktoum, whose book, My vision: Challenges in the Race for Excellence describes what went behind the creation of Dubai into what it is today.

Excerpts from StarBizWeek’s interview with Alabbar:

How long would it take to replicate a Downtown Dubai in an Asian city?

Alabbar: It would take five years, employing 50,000 people, with a 24-hour work schedule, provided the market is good.



You rely a lot of third party contractors. How do you ensure this works well?

We don’t “play”. Our contractors are horrified of us. We only go to the best contractors. When we sign, I literally ‘sit inside them’, to control their very breathing. I pay them well and we don’t delay but the message is, ‘no games’ ‘deliver on time and as promised’ as our reputation is at stake. No mediocre contractors are taken in. It doesn’t matter if they are slightly more expensive than the rest. This is to literally build a new city, something to achieve in our lifetime.

One shouldn’t be overtaken by absolute profits.



Do you think you can find pieces of land available for development in Asian cities?

Yes, if you look carefully, every city, Kuala Lumpur, Singapore, Bangkok, Jakarta even in Myanmar, there are these pockets that could be turned into a Dubai downtown type development. I have surveyed all these cities. And these sites do exist. I have said that in my lifetime, I would like to build two more (of Dubai downtown type projects). But maybe I will do five. There’s no harm in dreaming.”



But Kuala Lumpur already has KLCC? Do we need another tall building?

Yes, good job done on KLCC. But that was a long time ago. Globally cities are growing. Even if you begin now, you will only finish in five years. Imagine the growth in Kuala Lumpur five years from now.



You also want to build a global mining company.

Yes, that’s the plan. The market is slow but we carry on, we’re learning so much about Africa. If you have the right people it will be fine.



How do you manage these people and retain them?

It’s not easy. I’m a performance guy. You need to run with me. So finding runners is not easy. I don’t tolerate non-performers. I don’t carry people for free.

You have a standing office and you recently implemented standing meeting rooms, I’m told. Why?

Yes, why do you need a chair? I sit most of my day. People who work in restaurants and retail stores make minimum wage but they stand for very long hours. People like me who make much more money, should be standing longer than them. I should sleep standing up. So we now have standing meeting rooms in the office. People waste so much time in meetings. But with standing up, interestingly, meetings are shorter and more meaningful, as everyone wants to get over the pointers and get out of the meeting room. In fact, less meetings are also called, as issues are settled over the phone.

There are also no doors in our offices. I tell them, “if you want to discuss something private, please do that at home. We are here doing Emaar business so what big secret is this.”


http://www.starproperty.my/index.php...sian-property/
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Old May 19th, 2014, 11:17 AM   #22
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Latest Rendering for Bandar Malaysia with an Abu Dhabi's Style Grand Mosque:

Bandar Malaysia will also house a transit station/boarding point of the up-and-coming High Speed Rail to Singapore island.
Quote:
Originally Posted by W3raq View Post
Bandar Malaysia Mosque inspired by Sheikh Zayed Grand Mosque


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Old May 19th, 2014, 11:54 AM   #23
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Some proposal.. Not the winner..
Winner is Broadway Malyan

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Earlier proposal not the winner..










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Old August 3rd, 2014, 05:16 PM   #24
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Old September 2nd, 2014, 01:04 PM   #25
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This project gonna be Manhatan of KL!! I can't wait!
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Old November 12th, 2014, 06:29 AM   #26
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Originally Posted by davidwsk View Post
RM1.6b for Sg Besi relocation works
Wednesday, 12 November 2014



PETALING JAYA: 1Malaysia Development Bhd’s (1MDB) cost to relocate the existing occupants in Sungei Besi Airport is RM1.6bil, according to the annual report.

According to the annual report for the financial year ended March 31, 2014, Bandar Malaysia Sdn Bhd, a unit of 1MDB Real Estate Sdn Bhd (1MDB RE), partially issued RM1.5bil out of the total nominal value of RM2.4bil under a sukuk murabahah programme to help finance the relocation cost.

The maturity for the debt papers ranges from seven to 10 years, with bullet repayments of RM500mil and RM1bil in 2021 and 2024, respectively. Interest is charged on a half-yearly basis at 0.35% per annum.

1MDB had in 2013 awarded an RM2.1bil contract to a unit of the Malaysian Armed Forces Fund Board or Lembaga Tabung Angkatan Tentera to develop eight sites for the relocation of the former Royal Malaysian Air Force (RMAF) base in Sungai Besi.

1MDB acquired the prime parcel of land from the Government almost two years ago for only RM1.6bil, something that the property development industry has often described as a rather attractive price. The land is currently an air base for the Malaysian Air Force, among others, and has long been eyed by private developers.

The relocation is to facilitate the construction of the 200.32ha Bandar Malaysia, for which 1MDB is the master developer.

1MDB is also the master developer of the Tun Razak Exchange (TRX). The projects – Bandar Malaysia and TRX – are supposed to attract foreign investors.

1MDB’s contractual obligation to relocate the occupants from RMAF Sungai Besi at the cost of RM1.6bil is double the paper gains the company made in the just concluded financiall year.

The 2014 annual report showed that 1MDB RE had registered an RM896.8mil fair value gain on properties held for investment. This amount, however, is lower than the previous year’s RM2.73bil which is for both the Bandar Malaysia and TRX developments.

The properties were valued by CH William Talhar & Wong Sdn Bhd.

These properties include 34 plots of freehold land in TRX, which were transferred by the fund to 1MDB RE in 2013.

1MDB RE also completed the acquisition of 15 plots of land in Sungai Besi in 2013, which are being developed into the Bandar Malaysia project.

http://www.thestar.com.my/Business/B...-oc/?style=biz
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Old December 28th, 2014, 02:47 PM   #27
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Old June 27th, 2015, 04:14 AM   #28
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Quote:
Consortium to build Bandar Malaysia

aturday, 27 June 2015

By: THEAN LEE CHENG

Consultant makes assumption based on huge size of land involved

PROPERTY consultancy CH Williams Talhar & Wong says Bandar Malaysia will likely be developed by a consortium of developers.

“We are looking at equity participation. The asset of this company is the land,” says managing director Foo Gee Jen.

He says the consultancy generally sees this form of cooperation in any mega development. There is no specific master plan yet.

“Generally, we want to be flexible in terms of development. We want creativity and entrepreneurship to thrive,” he says.

CH Williams is the transaction advisor for 1MDB RE Sdn Bhd which is the master developer of 486 acres located on the fringe of the city.

Earlier this week, CH Williams invited interested parties to submit expressions of interest to develop the land. The deadline for submission of interest is July 10 noon.
http://www.thestar.com.my/Business/B...sia/?style=biz

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Old October 28th, 2015, 04:15 PM   #29
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Quote:
Originally Posted by Dary_10 View Post
Sept 11: Bandar Malaysia developer to be appointed next month


http://www.therakyatpost.com/busines...ed-next-month/


Quote:
1MDB RE gets City Hall OK for Bandar Malaysia, plot ratio 4.05
CECILIA KOK Monday, 26 October 2015
http://www.thestar.com.my/Business/B...sia/?style=biz

KUALA LUMPUR: 1MDB Real Estate Sdn Bhd (1MDB RE) has received the planning approval for its Bandar Malaysia development in Sungai Besi from Kuala Lumpur City Hall (DBKL).

1MDB said on Monday the “approval-in-principle”, granted based on Bandar Malaysia’s master plan, was for a mixed-used development with an average gross plot ratio of 4.05, across the entire 486-acre site.

“With this planning approval, the value proposition of Bandar Malaysia is now clear and we are another step closer to realising our vision of making Bandar Malaysia the country’s leading transit-oriented development,” 1MDB RE chief executive officer Datuk Azmar Talib said.

Having previously shortlisted four bidders, 1MDB RE, the master developer of Bandar Malaysia, said the reputable domestic and international property specialists were currently conducting detailed due diligence to become development partners in project.

“We are confident to receive final and binding proposals within the next two weeks, select preferred bidders and execute definitive documentation, before the end of the year,” Azmar said.
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Old November 12th, 2015, 07:19 PM   #30
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Thursday, 12 November 2015

1MDB Real Estate gets 2 final bids for sale in Bandar Malaysia stake


KUALA LUMPUR: 1MDB Real Estate Sdn Bhd (1MDB RE) has received two final, binding and funded bids from development partners for the proposed sale of 60% equity in Bandar Malaysia Sdn. Bhd.

Transaction advisor CH Williams Talhar and Wong (WTW) and 1MDB RE said on Thursday they were seeking clarification and undertaking a comprehensive analysis of the two bids.
http://www.thestar.com.my/Business/B...ake/?style=biz
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Old November 23rd, 2015, 05:51 PM   #31
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Quote:

Monday, 23 November 2015

New interest from Qatar-backed firm for Bandar Malaysia 1MDB project



by izwan idris


1MDB Real Estate Sdn Bhd (1MDB RE), the master developer of Bandar Malaysia, announced last week that it had narrowed down the final two binding and funded bids for the stake in the company that owns 486 acres located 3km from the Tun Razak Exchange (TRX) site in Kuala Lumpur. It is believed that the highest bid came from Tan Sri Lim Kang Hoo’s Iskandar Waterfront Holdings Bhd in partnership with China Railway Construction Corp Ltd. (Men walk past a 1 Malaysia Development Berhad (1MDB) billboard at the funds flagship Tun Razak Exchange development in Kuala Lumpur in this March 1, 2015 file photo. - Reuters)


PETALING JAYA: The race for a majority stake in Bandar Malaysia, the property redevelopment project by 1Malaysia Development Bhd (1MDB) in Sungai Besi, may develop into a three-way fight.

Sources said a third bidder comprising a local company backed by the Qatar government’s investment arm had expressed strong interest in the project.

It came a week after the tender for the sale of a 60% stake in Bandar Malaysia Sdn Bhd closed.

1MDB Real Estate Sdn Bhd (1MDB RE), the master developer of Bandar Malaysia, announced last week that it had narrowed down the final two binding and funded bids for the stake in the company that owns 486 acres located 3km from the Tun Razak Exchange (TRX) site in Kuala Lumpur.
http://www.thestar.com.my/Business/B...sia/?style=biz
..

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Old December 4th, 2015, 05:13 PM   #32
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Old December 31st, 2015, 08:43 AM   #33
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1MDB to sell 60% stake in Bandar Malaysia to Iskandar Waterfront - CREC Consortium for 7.41bil

KUALA LUMPUR: 1Malaysia Development Berhad (1MDB) will sign a share sale and purchase agreement to sell 60% of its equity in Bandar Malaysia Sdn Bhd to a consortium for RM12.35bil, the final milestone in its rationalisation plan.
The buyer, a consortium known as IWH-CREC Sdn Bhd, is a 60:40 joint venture between Iskandar Waterfront Holding Sdn Bhd (IWH) and China Railway Engineering Corporation.
A press release issued by 1MDB before the start of the ceremony this morning said that the agreement marked the final milestone in the 1MDB rationalisation plan as presented to the Cabinet on May 29.
The agreement follows from the execution of the Binding Term Sheet with IPIC in June 2015 and the Share Sale and Purchase Agreement with CGN Group last month.



The statement said that the IWH-CREC Consortium has valued the Bandar Malaysia land situated in Sungai Besi at RM12.35bil.
"Accordingly, its 60% share will cost RM7.41bil. 1MDB will receive a 10% deposit of RM741mil upon execution of the Share Sale and Purchase Agreement, with completion of the transaction expected by end June 2016."

http://www.thestar.com.my/news/natio...a-for-7_41bil/
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Old December 31st, 2015, 08:44 AM   #34
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Thursday, 31 December 2015 | MYT 12:46 PM

Bandar Malaysia to have GDV of RM150b


KUALA LUMPUR: Bandar Malaysia, which will be the catalyst for the transformation of Greater Kuala Lumpur, will be developed over a 15 to 25-year period at a projected gross development value (GDV) of RM150bil. It is designed to become Malaysia’s new international landmark when completed.

1Malaysia Development Bhd Group (1MDB) had on Thursday inked a share sale and purchase agreement to sell 60% of the equity in Bandar Malaysia Sdn Bhd (BMSB) to a consortium comprising Iskandar Waterfront Holdings Sdn Bhd (IWH) and China Railway Engineering Corporation (M) Sdn Bhd (CREC).
http://www.thestar.com.my/business/b...50b/?style=biz
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Old January 5th, 2016, 04:01 PM   #35
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1MDB sells Bandar Malaysia land to Johor, Chinese consortium

By Syed Jaymal Zahiid

Thursday December 31, 2015
10:30 AM GMT+8




(Seated, from left) 1MDB’s Tan Sri Lodin Wok Kamaruddin, Director of Iskandar Waterfront Holding, Abdul Razak Yussof and Managing Director of China Railway Engineering Corp, Cai Zemin at Bandar Malaysia’s signing ceremony in Kuala Lumpur, December 31, 2015. ― Picture by Yusof Mat Isa
KUALA LUMPUR, Dec 31 ― 1Malaysia Development Bhd (1MDB) announced today that China Railway Engineering Corporation Sdn Bhd and Johor-based Iskandar Waterfront Holdings will purchase a 60 per cent stake in its Bandar Malaysia land bank.

The state-owned investment firm will receive RM7.42 billion from the sale, which is part of its third and final rationalisation plan to settle its outstanding debt.

“We are delighted with the outcome. We have received fair terms from both parties in the negotiations.
- See more at: http://www.themalaymailonline.com/ma....Rs0QC8ps.dpuf
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Old January 5th, 2016, 04:03 PM   #36
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Singapore-Malaysia rail alignment set amid China lobby concerns


Published 4 Jan 2016, 3:59 pm

Malaysia and Singapore have agreed on the alignment of the high-speed rail connecting Kuala Lumpur and the republic, amid concerns that China Railway will have an upper hand in bidding for the project after buying stakes in Bandar Malaysia.

The high-speed rail will be between Bandar Malaysia project owned by 1MDB in Kuala Lumpur and Singapore.

1MDB agreed to sell 60 percent stakes of the project to China Railway Engineering Corporation (M) Sdn Bhd and Iskandar Waterfront Holdings Bhd last week.
https://www.malaysiakini.com/news/325410
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Old March 21st, 2016, 04:11 PM   #37
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China Railway Group LTD opens regional center in Bandar Malaysia

Posted on March 21, 2016




Investing USD$2 billion to build integrated office complex

KUALA LUMPUR: China Railway Group Limited (CREC), one of China’s biggest state-owned companies, will invest USD$2 billion to build its own Regional Center in Bandar Malaysia.
The integrated office complex is set to become the regional hub for MNCs from around the world.

According to the press release, CREC president Zhang Zongyan announced this in the presence of Prime Minister Datuk Seri Najib Tun Razak, Johor Menteri Besar Datuk Seri Mohamed Khaled Nordin and several cabinet ministers at a ceremony on Monday, March 21.
http://www.starproperty.my/index.php...ndar-malaysia/
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Old March 21st, 2016, 04:12 PM   #38
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China Railway Group to invest US$2bil in Bandar Malaysia
BY SHARIDAN M. ALI Monday, 21 March 2016 | MYT 11:57 AM
http://www.thestar.com.my/business/business-news/2016/03/21/china-railway-group-to-invest-us$2bil-in-bandar-malaysia



An artist’s impression of China Railway Group Litd’s regional centre in Bandar Malaysia.

KUALA LUMPUR: China Railway Group Ltd has announced that it will invest US$2bil (RM8.1bil) to build its own regional centre in Bandar Malaysia.

This comes three months after it won the bid with joint-venture partner Iskandar Waterfront Holdings (IWH) to acquire 60% of equity in Bandar Malaysia for RM7.41bil from 1MDB Real Estate. The announcement was made in the presence of Prime Minister Datuk Seri Najib Razak earlier on Monday.

The US$2bil is for the development of an integrated complex in Bandar Malaysia.
It was reported CREC is one of the front-runners of high speed rail from KL-Singapore which will which include Bandar Malaysia as its main hub.

CREC is one of the world’s largest engineering and construction firms, and also has businesses, among others, in industrial manufacturing, real estate development, and resources and mineral products. As of 2015, it is ranked number 71 in the Fortune 500, with a turnover exceeding US$100bil per annum.
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Old March 21st, 2016, 04:25 PM   #39
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Multiple Supertalls here.


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Old March 21st, 2016, 06:28 PM   #40
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Quote:
Originally Posted by nazrey View Post
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Source: http://www.starproperty.my/index.php...ndar-malaysia/









Najib signing the plaque signifying China Railway Group Limited as the first Fortune Top 500 Company in Bandar Malaysia. (From left) Looking on proudly are Lim Kang Hoo and Zhang ZhongYan



Chinese Ambassador to Malaysia Huang Huikang/China Railway Group Limited president Zhang ZhongYan/Prime Minister Datuk Seri Najib Tun Razak
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