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Taller Is Better
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1MDB ties up with Abu Dhabi
By Vasantha Ganesan
Published: 2010/05/21



The Abu Dhabi government will invest an estimated US$2 billion (RM6.5 billion) to develop the Kuala Lumpur International Financial District (KLIFD) in the Malaysian capital, sources say.

The investment, to be made through Mubadala Development Co, will go towards a mixed development project on 34.4 hectares near Jalan Tun Razak.

The Malaysian government has handed over the site, popularly referred to as Dataran Perdana, to 1Malaysia Development Bhd (1MDB), a company wholly owned by the government.

"A joint-venture company will be set up for a mixed development to include finance, banking, residences and retail," a source said.

"The project will start very soon," another source told Business Times.
Invitations to witness what has been touted as "The birth of the world's newest financial district" have been sent out by 1MDB.

The event on May 29 will be inaugurated by Prime Minister Datuk Seri Najib Razak and General Sheikh Mohammed Zayed Al Nahyan, the Crown Prince of Abu Dhabi and Deputy Supreme Commander of the United Arab Emirates (UAE) Armed Forces.

The deal with Abu Dhabi is the second that 1MDB is signing in the span of just two weeks.

Last week, it entered a memorandum of understanding (MOU) with the Qatar Investment Authority (QIA). The latter has proposed to invest US$5 billion (RM16 billion) in Malaysia.

The MOU provides a framework for facilitating investment cooperation between the two to explore, evaluate and implement investment opportunities in Malaysia.

It was reported that the Sg Besi site of the Royal Malaysian Air Force base would be transferred to 1MDB for development and that QIA might be involved in the project.

Read more: 1MDB ties up with Abu Dhabi http://www.btimes.com.my/Current_News/BTIMES/articles/klifd-2/Article/index_html#ixzz0oVZmHIFU
 

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Dataran Perdana, near Jalan Davis in Pudu (total of 42ha) will become KUALA LUMPUR INTERNATIONAL FINANCIAL DISTRICT.

In 2009, a supertall was rumoured to be build here under PHBB (that develops Nu Sentral with MRCB). This area has been identified by KL City Plan 2020 as a potential MSC cybercity.

The project will be announced on May 29 ???
 

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that's great news! But one of the most beautiful view of KL skyline will be blocked with the skyscrapers being built along that area
 

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Exciting news! I'm trying to imagine it with the Pudu Jail, Sungai Besi, and Merdeka Stadium/Stadium Negara developments, and it's mind-boggling. :nuts:
 

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Exciting news! I'm trying to imagine it with the Pudu Jail, Sungai Besi, and Merdeka Stadium/Stadium Negara developments, and it's mind-boggling. :nuts:
Projects that could start in 2010:

u forgotten to add-in Naza Matrade (RM15 billion), KLCC-Qatar project (RM2 bllion), KL Eco City in Mid Valley (RM6 billion), Bangsar Business Park nicknamed Unilever land (RM5 billion)..............
 

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Projects that could start in 2010:

u forgotten to add-in Naza Matrade (RM15 billion), KLCC-Qatar project (RM2 bllion), KL Eco City in Mid Valley (RM6 billion), Bangsar Business Park nicknamed Unilever land (RM5 billion)..............
True! It almost feels as if we're the new Dubai or some city in China... KL's going to become a major construction site.

P/S. Now let's hope something is done about Plaza Rakyat/Puduraya soon!
 

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With all these upcoming project sites, Plaza Rakyat has turned into a little project which will be a bonus if it is being built. Hehehehe
 

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KLIFD groundbreaking ceremony postponed
Published: 2010/05/28
http://www.btimes.com.my/Current_News/BTIMES/articles/jonem/Article/#ixzz0pDG4pW94


THE groundbreaking ceremony for the Kuala Lumpur International Financial District (KLIFD) that was to be held tomorrow has been postponed indefinitely.

Business Times reported last week that 1Malaysia Development Bhd (1MDB), a wholly-owned government company, and the Abu Dhabi government were to jointly develop a mixed-development project on 34.4 hectares of land near Jalan Tun Razak.

It was reported that the Malaysian government has handed over the site, popularly referred to as Dataran Perdana, to 1MDB.

While preparations for the groundbreaking ceremony to be held across a football field were under way and almost nearing completion, invitees to the event were informed earlier this week of the postponement.

The event was to be inaugurated by Prime Minister Datuk Seri Najib Razak and General Sheikh Mohammed Zayed Al Nahyan, the Crown Prince of Abu Dhabi and deputy Supreme Commander of the United Arab Emirates Armed Forces.

1MDB could not be reached for comment.
 

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abed
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typical of Arabs.. last minute decision-making. i dont think it will be scrapped tho... but where is this Dataran Perdana??
 

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1Malaysia Development picks project partners
By YAP LENG KUEN
[email protected]


Potential partners to bring in multi-billion ringgit investments

KUALA LUMPUR: 1Malaysia Development Bhd (1MDB), the agency tasked to develop most of the government land, is identifying partners to draw up a masterplan for its Bandar Malaysia and Kuala Lumpur International Financial District (KLIFD) projects in the city.

Among the international architects and designers being considered are Forsters & Partners as well Skidmore, Owings & Merrill LLP (SOM).:banana::banana:

“We have been talking to them for the past few months,’’ 1MDB CEO Shahrol Halmi told StarBiz. “Those selected, including project directors and engineers, should have credible track records, be transparent and bring their international experience to enhance our local expectations.’’

The masterplan for both projects will be based on the same approach especially in terms of financial modelling, parcelling and tenders.

Complementing each other will be the Islamic financial hub on 80 acres at the Dataran Imbi area and the mixed development on 460 acres at the Sg Besi old airport.


“We target to unroll the vision and plan for the two projects in a year’s time,’’ he said, adding that momentum of work was essential to keep the young team on their toes while the public would also want to see some progress.

“Construction in phases will probably commence in three to four years,’’ he said. “It is going to be a long journey and we have to get it right, for example, by making sure that we do not flood the market with retail space.’’

Its potential partners, which may also bring in equity, include the Qatar Investment Authority (which has proposed to invest US$5bil in Malaysia) as well as parties from Abu Dhabi and China.

Reports have indicated that the Abu Dhabi Future Energy Co (Masdar), which is a wholly-owned subsidiary of Abu Dhabi’s Mubadala Development Co, may be an interested party while 1MDB is in contact with the CITIC group of China.

Among 1MDB’s board of advisors are Khaldoon Khalifa Al Mubarak, chairman of Abu Dhabi Executive Affairs Authority, CEO & MD of the Mubadala Development Co and Chang Zhenming, vice-chairman and president of the CITIC group.

“We are in a fortunate position where we have interesting projects for foreigners and locals to take part in,’’ he said.

The two developments at Imbi and Sg Besi will be connected via public transportation and feature a balanced approach where the gross development value will make commercial sense as well as ensure future sustainability.

“It should be attractive to investors and tenants while at the same time, offer affordable housing especially to the younger people as in the way that Singapore has provided apartments that are accessible via public transportation.

“Young people should be attracted to live in the city, infuse it with vibrancy and revive it to the next level,’’ he said.

The KLIFD that will promote Islamic finance, will likely comprise a cluster of financial services related groups such as banks, legal firms, IT consultancies and others. The idea is for a hub where there are world-class facilities for working, dining and relaxing in a safe environment.

“We are in discussion with the authorities,’’ said Shahrol. “It needs a concerted approach from eight to nine parties to make it happen. There are energetic and passionate people in the civil service.’’

Among other things, removal of redtape, provision of incentives and tax breaks, salary structures and types of businesses are being looked into, with a view to attracting talent back into the country.

For 1MDB, the plan for Bandar Malaysia represents a new opportunity for a green and energy efficient development. “A big park of 80 acres, in the likes of Hyde Park in London, will differentiate this part of Kuala Lumpur from some neighbouring cities. It will make people feel they can breathe and that they are part of the society that cares about nature,’’ he said.

There may be a place for big events and people’s forums, a university for the leading edge in technology in partnership with world-class firms, a library where there are also shows, book signing and activities for the young and old. “Besides the construction costs, we have to factor in the cost for long-term sustainable maintenance,’’ he said.
 

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it will be interesting if the masterplan looks like this


Masterplan of the proposed Iskandar Financial District in Medini Iskandar, Nusajaya. The designer is Gensler, the world's largest architecture firm.
 

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i want somthing like putrajaya boulevard..but with skyscrapers..and the lake scene..or somthing like dubai marina..all 200m++ building
 
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