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KUALA LUMPUR: Sapura Resources Bhd (SRB) will be developing a prime parcel of land along Jalan Kia Peng, Kuala Lumpur, measuring 81,863 sq ft, in a 50:50 joint venture with a unit of Petroliam Nasional Bhd (Petronas).

In a filing with Bursa Malaysia yesterday, SRB said its board had approved the proposed acquisition of a 50% stake in the joint venture entity, Impian Bebas Sdn Bhd, from KLCC (Holdings) Sdn Bhd (KLCCH) for RM108.5 million cash.

Petronas owns 100% of KLCCH, which in turn is a major shareholder of the Bursa-listed KLCC Property Holdings Bhd and also KLCC Real Estate Investment Trust.

Impian Bebas plans to develop commercial buildings on the land, including a 46-storey office tower, a three-storey convention centre, a retail podium and a seven-storey basement car park. In total, these will make up 1.64 million sq ft in gross floor area.

In the announcement, SRB said the proposed development has an estimated gross construction and development cost of about RM1.3 billion, excluding the value of the land.  It added that the project will be financed through a combination of bank borrowings secured by Impian Bebas, as well as funds contributed by SRB and KLCCH based on the equity interest each holds.

The proposed development has an estimated development period of five years, and is expected to be completed by end-2019.

Based on a valuation report by Henry Butcher Sdn Bhd dated April 11, the land carries a market value of RM245.6 million, assessed by using the comparison method of valuation.

http://www.theedgemalaysia.com/index.php?option=com_content&task=view&id=286085&Itemid=79
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Another office tower for KLCC area

http://www.therakyatpost.com/business/2015/04/20/another-office-tower-for-klcc-area/

Another office tower is rising within the KLCC area, to be ready by 2020.

The project is being undertaken by Impian Bebas Sdn Bhd, a joint venture company between KLCC (Holdings) Sdn Bhd and Sapura Resources Bhd on commercial land known as Lot 91 at Kuala Lumpur City Centre.

The mixed commercial development will comprise of an office tower, convention centre and retail podium.

While exact details of the project has yet to be disclosed, Maybank said in a statement today that an Impian Bebas representative described the development as being designed with seamless integration with the existing KLCC.

“The project is also within walking distance from the Suria KLCC shopping mall and is expected to garner strong interest from tenants.”

The project is being funded up to 80% by Maybank Investment Bank Bhd, Public Islamic Bank Bhd and RHB Islamic Bank Bhd – with a 15-year, RM1.08 billion syndicated Islamic term financing.
 

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The design

This is the Lot D1 project which wholly own by KLCC Property Holdings Berhad (KLCCP), different project with this one, This one is collaborate project by Sapura and KLCC Property Holdings Berhad (KLCCP) which is in Lot 91.

 
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