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Old June 16th, 2008, 08:43 AM   #161
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CIMB Tower

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CIMB-Mapletree eyes RM1b for second fund
By Anna Maria Samsudin
July 28 2007




CIMB-Mapletree Management Sdn Bhd (CMM), manager of a privately-held property fund, plans to raise RM1 billion for its second fund.

CIMB-Mapletree Real Estate Fund 2 (CMREF 2) has already raised some RM200 million, CMM chief executive Raja Noorma Othman said.


It plans a road show to promote the fund to potential investors locally as well as abroad, namely in the Middle East and Europe.

"We are ready to launch the road show in two months' time. We target to complete this exercise by the first quarter of next year," she told reporters after a signing ceremony between CMM and Malaysian Resources Corp Bhd (MRCB) to build a RM400 million office tower at KL Sentral in Kuala Lumpur yesterday.

CMM is a joint-venture company between CIMB Group and Mapletree Investments Pte Ltd, a leading property company in Singapore.

Its first fund CMREF 1, which raised RM400 million, was launched in 2005, and so far, the fund has made four major commercial acquisitions, with the KL Sentral Tower being the single largest acquisition.


Based on CMM's track record, CIMB Group chief executive officer Datuk Nazir Razak said the company is optimistic of being able to raise the targeted amount for CMREF 2.

"Why we need a second round of real estate fund is largely because of the opportunity.

"We raised RM400 million in the previous fund and we have made RM1 billion investment out of that. We can leverage the fund. And with RM1 billion, we expect to be able to invest over RM3 billion," he added.

On the KL Sentral Tower project, MRCB group managing director Shahril Ridza Ridzuan said construction and development of the office tower will be undertaken by the company.

Upon completion, the building is slated to be the new corporate headquarters of the CIMB Group, he said.

The company expects construction of the office tower to begin in the fourth quarter this year with work targeted for completion in early 2011.

Shahril said MRCB currently has about RM5 billion of developments in various stages of planning and progress at KL Sentral.

"Our future projects within the development are estimated to generate over RM3 billion in gross development value, making the entire KL Sentral development the single largest commercial development of its kind in the country," he added.
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Old June 22nd, 2008, 02:55 PM   #162
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How fancy can hotels go? St Regis arrives in KL
Saturday June 21, 2008, By LUM YI HWA, TheStar

HOTELS to some might seem like just like a place to spend the night in. To others, it’s an experience. And then there is St Regis hotels. This legendary hotel is said to house some of the finest politicians, CEOs and even royalty.

“You can expect bespoke service in St Regis,” says Miguel Ko, president of Starwood Hotel and Resorts, Asia-Pacific, which owns St Regis.

Bespoke means tailor-made, customised to their guests needs.

“The St Regis experience is something that our guests keep coming back for. Our butler service is impeccable and they are attentive. If you’ve stayed in any St Regis hotel around the world, you can expect your favourite chocolates in your room that’s been turned down just the way you like it. We have a system that ensures our guest’s needs are all recorded down so you don’t need to say it twice. Our butlers have also been trained to take note of guests preferences. That is luxury,” says Ko.







Ko and Chua indicating the location of St Regis hotel
on a scaled model of KL Sentral.






St Regis is the latest luxury hotel that will make its presence felt in Kuala Lumpur. The hotel will occupy the property owned by ONE IFC Sdn Bhd and this newly constructed property will include 200 guest rooms and 200 whole-ownership St Regis branded residences. It is slated to open its doors in 2014. This 6-star hotel is situated in the prestigious central hub of KL Sentral.

“This affirms Kuala Lumpur’s and Malaysia’s sustained growth and potential, and is further proof that KL is ready to welcome a brand whose reputation for luxury is incomparable,” says Carmen Chua, CEO of ONE IFC during the signing ceremony with Starwood.

Starwood is the world’s leading hotel group with almost 900 properties in 100 countries. Also in Starwood Hotels and Resorts’ extensive list of hotels is The Le Meridien, Westin and The Sheraton, just to name a few.

Unmistakable Quality

“The St Regis Kuala Lumpur will have only 200 guest rooms and it’s exclusive and quiet. Guests can slip in and out, you have complete privacy,” says Ko. That’s the reason why St Regis in other countries boasts a guest list of important people like prime ministers, CEOs, politicians and the list goes on. “Our butlers are discreet and you wouldn’t even know they’re there,” explains Ko.

“It doesn’t matter what these people are here for. Whether it’s for leisure or government mission, it’s not important WHY they’re here, but rather for WHAT they are,” says Ko. “Guests will come back for the comfort and privacy. It’s not like when you walk into the lobby and everyone knows you’re here,” adds Carmen.

“We pride ourselves in being a 6-star hotel. Six-star meaning that we are an ultra luxury brand. Five-star hotels are everywhere, but being a 6-star hotel means that you have to outdo the rest.” he says. “St Regis is all about understated elegance and the attention to detail of our service is something to experience to understand.”

“St Regis is also in Singapore and Beijing, and in some countries they are still under construction. Once St Regis Kuala Lumpur opens in five years time, guest will be able to get the St Regis experience in nearly every country in South East Asia.” says Ko. “The rooms will be bigger than the usual 5-star hotels and the restaurants within the hotel will be discreet and secluded. We want our guests to enjoy their stay to the fullest.”

“As for the residency, it is targeted at the high-end condo dwellers who want the comforts of home but the facilities of a hotel. These properties have the St Regis brand, which is internationally recognised. This attracts foreign buyers who have the confidence in the St Regis brand. This is definitely a smart investment,” he says. The whole ownership units are sold as strata title land and comes unfurnished. “We have showrooms to give our potential clients an idea of how the unit will look like and they can advice their own interior designer,” Ko adds.

“The rooms in St Regis Beijing have been fully booked for the Olympics since 2006. The guest list in the hotel is impressive as St Regis Beijing is without a doubt the most famous hotel in town. You can ask anyone and they will know where the St Regis is. It is the choice hotel for any visiting CEOs, politicians and even prime ministers or presidents,” says Ko.

Location Selection

“We were pleasantly surprised when we found out that the Le Meridien (also owned by Starwood and located at KL Sentral) outperformed most hotels in KL city central. I guess once you think about the 45 minute jams getting out of the city, you’ll reconsider staying elsewhere,” says Ko.

“We believe that KL Sentral will be the future hub for business travellers. We foresee 200 million visitors coming by KL Sentral and that’s just amazing,” Carmen says. “Roads and infrastructure will also be upgraded around the area to ease the traffic coming in from Jalan Travers.”

“To us, location has always been an important point. When we received reports about Le Meridien’s uptrend, we knew we have the place for our high end hotel,” says Ko.

The KL Sentral transit hub features an integrated network of six railway that connects north to south (from Thailand to Singapore) – the KLIA Express Rail Link, the LRT, the KLIA Transit, KTM Intercity, KTM Komuter, Rapid KL and KL Monorail services. KL Sentral is also Malaysia’s only centrally located Multimedia Super Corridor cybercentre. Benefits include tax advantages, having an independent broadband gateway as well as an independent power supply.

“With world famous New York-based Skidmore, Owings and Merrill architecture firm (who designed the Freedom Tower in New York and Burj Dubai in UAE) designing the building, we are assured that their expertise will match our shared vision of building a state-of-the-art tower in creating a new icon to complement the Petronas Twin Towers,” says Carmen. “SOM is one of the top three architectural firms in the world,” she adds.

How it all started

“Carmen and I were introduced by a mutual friend and business partner and we discovered we both share the same ideals,” says Ko, when asked about how the project started. “And when we decided to work together in bringing St Regis to Malaysia, we spent a year getting to know each other,” he adds.

ONE IFC is 60% owned by CMY Capital Sdn Bhd, 30% by Malaysian Resources Corp Bhd and 10% by Jitra Perkasa Sdn Bhd. “ONE IFC’s commitment to the project also represents its confidence in Malaysia’s economy despite the current climate of uncertainty, inflation and rising costs,” says Carmen. The construction of the hotel, residences and office tower development is expected to start in 2010.


World famous hotel brand
THE St Regis hotel has always been the choice for the discerning guests. From their resorts in exotic locations like the Bora Bora Resort or the Monarch Beach Resort to ski resorts in Aspen, you can expect nothing but the best.


St Regis is founded by John Jacob Astor with the landmark St Regis Hotel in New York over a century ago. Since then it was known for its unrivalled dimension of luxury, bespoke service and refined elegance at the best addresses in the world.

With new properties coming up in Atlanta- Buckhead, Baha Mar, The Bahamas, Bahia Beach, Puerto Rico, Bal Harbour and Deer Crest in North America; Buenos Aires, Costa Rica, Mexico City and Punta Mita in Latin America and plans to open properties in Bali, Bangkok, Jakarta, Lhasa, Macau, Osaka and Tianjin. St Regis will also make its presence felt in Cairo, Doha and Bahrain.
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Old July 2nd, 2008, 03:57 PM   #163
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by royedsworld

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Old July 7th, 2008, 04:15 PM   #164
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FROM FLICKR

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Old July 7th, 2008, 04:22 PM   #165
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by Heir of Slytherin

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Old July 8th, 2008, 08:04 AM   #166
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Latest Update:

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Old July 20th, 2008, 01:29 AM   #167
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Lot A

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Originally Posted by nazrey View Post
CIMB-Mapletree eyes RM1b for second fund
By Anna Maria Samsudin
July 28 2007




CIMB-Mapletree Management Sdn Bhd (CMM), manager of a privately-held property fund, plans to raise RM1 billion for its second fund.

CIMB-Mapletree Real Estate Fund 2 (CMREF 2) has already raised some RM200 million, CMM chief executive Raja Noorma Othman said.


It plans a road show to promote the fund to potential investors locally as well as abroad, namely in the Middle East and Europe.

"We are ready to launch the road show in two months' time. We target to complete this exercise by the first quarter of next year," she told reporters after a signing ceremony between CMM and Malaysian Resources Corp Bhd (MRCB) to build a RM400 million office tower at KL Sentral in Kuala Lumpur yesterday.

CMM is a joint-venture company between CIMB Group and Mapletree Investments Pte Ltd, a leading property company in Singapore.

Its first fund CMREF 1, which raised RM400 million, was launched in 2005, and so far, the fund has made four major commercial acquisitions, with the KL Sentral Tower being the single largest acquisition.


Based on CMM's track record, CIMB Group chief executive officer Datuk Nazir Razak said the company is optimistic of being able to raise the targeted amount for CMREF 2.

"Why we need a second round of real estate fund is largely because of the opportunity.

"We raised RM400 million in the previous fund and we have made RM1 billion investment out of that. We can leverage the fund. And with RM1 billion, we expect to be able to invest over RM3 billion," he added.

On the KL Sentral Tower project, MRCB group managing director Shahril Ridza Ridzuan said construction and development of the office tower will be undertaken by the company.

Upon completion, the building is slated to be the new corporate headquarters of the CIMB Group, he said.

The company expects construction of the office tower to begin in the fourth quarter this year with work targeted for completion in early 2011.

Shahril said MRCB currently has about RM5 billion of developments in various stages of planning and progress at KL Sentral.

"Our future projects within the development are estimated to generate over RM3 billion in gross development value, making the entire KL Sentral development the single largest commercial development of its kind in the country," he added.
New CIMB Bank Tower @ Lot A





Lot A
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Old July 26th, 2008, 05:46 AM   #168
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MRCB confident on sales of property projects
Saturday July 26, 2008, By FINTAN NG, TheStar

PETALING JAYA: Malaysian Resources Corp Bhd (MRCB) is confident its property projects will continue to enjoy good sales and tenancy despite the more challenging economic conditions.

Group managing director Shahril Ridza Ridzuan said that location and accessibility would always play a big part in the sale or rental of property, even during a downturn.

“Even during the Asian financial crisis, certain locations in Kuala Lumpur continued to register strong interest and secondary market transactions,” he said on the sidelines of the StarBiz -Institute of Corporate Responsibility Malaysia forum yesterday.

MRCB has been active in the property development scene in Kuala Lumpur while it entered the Penang property market just last year. The company is developing, on a joint-venture basis, office towers, hotels and serviced residences on 72 acres in KL Sentral. The project has an expected gross development value of about RM2bil.

Shahril said the broadband infrastructure and multimedia supercorridor status of KL Sentral was an added attraction for those thinking of relocating there for business purposes.

The company has about 100 acres in Penang and recently acquired a 3.34-acre freehold parcel in Batu Ferringhi from MBSB Development Sdn Bhd for RM26mil where there are plans for a high-end serviced apartment project.

Last June, Pelaburan Hartanah Bumiputera Bhd awarded a contract worth RM500mil in Penang to MRCB for the construction of landed and high-rise residential properties.

It is also developing the RM2bil Penang Sentral, a similar transportation hub on the island which, when completed, would connect the northern and southern halves of the peninsula. The project is a joint venture with Pelaburan Hartanah.

“Our Penang and KL Sentral property projects have a potential gross development value of RM5bil,” Shahril said, adding that property development contributed 65% to revenue, with the bulk currently coming from KL Sentral.

He said the company's bid for the RM350mil Kompleks Kerjaya 2, in Jalan Sultan Salahuddin, was still ongoing. Its construction arm's order book stood at RM2bil, he added.
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Old August 2nd, 2008, 04:55 AM   #169
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by MaRtiN's @ 81

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Old August 6th, 2008, 04:59 AM   #170
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Old August 19th, 2008, 12:45 PM   #171
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Old August 19th, 2008, 12:55 PM   #172
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Old August 19th, 2008, 12:58 PM   #173
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Old August 26th, 2008, 07:32 AM   #174
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CapitaLand targets RM2b REIT listing by Dec
By Goh Thean Eu Published: 2008/08/21 BusinessTimes

CAPITALAND Ltd, Southeast Asia's largest real estate company, plans to list a RM2 billion property trust of Malaysian shopping malls on Bursa Malaysia by the end of the year.

It submitted the request to the Securities Commission recently and expects an approval before October.

"The reason why we have done all the preparation is to do it (list it) before the end of the year. Of course, at the end of the day, it is all dependent on the market," said CapitaLand chief investment officer Kee Teck Koon.

Currently, its retail assets include Sungei Wang Plaza in Kuala Lumpur, Gurney Plaza in Penang and Mines Shopping Fair in Seri Kembangan, Selangor. In June, it bought 62 per cent of Sungei Wang Plaza's retail area for RM595 million.

Kee was speaking to the media after the topping-up ceremony for the Tower D project in KL Sentral, Kuala Lumpur.

The commercial building, located next to Sooka Sentral and opposite the Sentral rail station, has seen strong tenant interest.

"So far, about 65 per cent of its total net lettable space of 355,323 sq ft has been taken up, mainly by foreign companies. We expect it to be fully tenanted by end of this year," said Quill Group of Companies director Datuk Michael Ong.

Construction is scheduled to be completed in the first quarter of next year.

It expects demand for top-grade commercial space to remain robust as demand is stronger than supply, mainly in areas near KLCC and in Sentral.

"The Malaysian real estate market is undergoing a stage of rapid growth following the country's healthy economic performance over the past few years," said CapitaLand Commercial Ltd chief executive officer Wen Khai Meng.

Tower D is developed by Quill Realty Sdn Bhd, which is 60 per cent owned by Quill and 40 per cent by Malaysia Commercial Development Fund (MCDF).

MCDF is managed by MCDF Management Pte Ltd, an indirect wholly-owned unit of CapitaLand with Aseambankers Malaysia Bhd as its main adviser.
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Old August 26th, 2008, 07:34 AM   #175
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CapitaLand applies to list RM2bil REIT
Thursday August 21, 2008 TheStar



From left: CapitaLand Commercial Ltd CEO Wen Khai Meng, Quill Group of
Companies, executive director Dato' Michael Ong, MD Dato' Jennifer Low
and CapitaLand Ltd, CIO Kee Teck Koon laying cement to the top of Tower D
at KL Sentral on Wednesday. - Starpic by Victor K.K. Ng


KUALA LUMPUR: Singapore-based CapitaLand Ltd has submitted its application to list its RM2bil real estate investment trust (REIT) on Bursa Malaysia.

However, the timing of the listing would depend on market conditions, said chief investment officer Kee Teck Koon.

From left: CapitaLand Commercial Ltd CEO Wen Khai Meng, Quill Group of Companies, executive director Dato' Michael Ong, MD Dato' Jennifer Low and CapitaLand Ltd, CIO Kee Teck Koon laying cement to the top of Tower D at KL Sentral on Wednesday. - Starpic by Victor K.K. Ng

“We have just submitted the application and expect to obtain the approval by the fourth quarter of this year,” he told reporters after the topping-up ceremony of Tower D in Lot J, KL Sentral, yesterday.

Tower D is being developed by Quill Realty Sdn Bhd, which is 60% owned by Quill and 40% owned by Malaysia Commercial Development Fund (MCDF). MCDF is managed by MCDF Management Pte Ltd, an indirect wholly-owned subsidiary of CapitaLand, with Aseambankers Malaysia Bhd as principal adviser.

Kee said the company hoped to list the REIT before year-end but it would hinge on the performance of the local capital market.

On the possibility of listing its REIT in other countries due to the lacklustre Malaysian market, Kee said the company was very clear on wanting to list it in Malaysia.

Assets to be injected into the trust will include Gurney Plaza in Penang, Mines Shopping Fair in Seri Kembangan, and Sungai Wang Plaza in Kuala Lumpur.

Kee said the company was always on the lookout for high-value commercial properties in Kuala Lumpur but there was currently nothing concrete.

Quill Capita Trust chief executive officer Chan Say Yeong said the demand for commercial properties was encouraging due to the limited supply of commercial assets in Kuala Lumpur.

“Generally the demand comes from oil and gas, telecommunications and multinational companies as well as the service sector.

“The rental growth rates in the Kuala Lumpur City Centre and KL Sentral areas were between 15% and 20% for the past few years,” he added.

Quill Group of Companies executive director Datuk Michael Ong said Tower D - a 29-storey office tower with a six-storey podium - would be ready for occupancy in March. Of its total net lettable space of 355,323 sq ft, 65% has been taken up by tenants so far.

Ong said the average monthly rental in KL Sentral was between RM6 and RM7 per sq ft while the latest property transaction price in KL Sentral was RM1,000 per sq ft.
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Old August 26th, 2008, 07:36 AM   #176
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Lot D

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Old September 2nd, 2008, 10:12 PM   #177
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Old September 3rd, 2008, 04:09 PM   #178
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Old September 4th, 2008, 08:47 AM   #179
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New Proposal

KL SENTRAL OFFICE TOWER, KUALA LUMPUR

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Old September 4th, 2008, 09:52 AM   #180
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Best design in KL Sentral yet. Is it for lot F?
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