Malaysia to kick off contruction of it's first megatower (one of many)
Phase 1 Coming Soon Early 2011
Developer: NAZA Group
MORE DETAILS COMING SOON...



This post has been edited by accetera: Aug 4 2018, 03:57 PM

near to Mah Sing's Icon Residence.....

Developer: Naza TTDI (Naza Group)

Phased: 3

Size: 75.5 acre or 30.2 ha

GDV: RM15 billion

Architect: Skidmore, Owings and Merrill (New York)

Proposition: Malaysia's business, trading and convention hub

Tagline: "A city inspired by vision"

Brief: a total of 23 towers including a supertall tower, 2 retail centres including one 2,000,000 sq ft mall, and a 100,00 sq m (1mil sq ft) exhibition and convention space

Landmark: a tower is expected to be between 90 to 120 storeys depending on economic situation from 2015

Components: residential, commercial and corporate, retail, M.I.C.E., business and boutique hotels, healthcare and arts/cultural components

Connectivity: the proposed MRT Circle Line (MY Rapid Transit 2nd Line)

Certifications: Malaysia Green Building Index (GBI) and US-based LEED for Neighbourhood Development

Status: construction has begun with the piling for Matrade Centre 60% completed since it began in May 2011

Completion: whole project is expected to finish in 2025

Official Website: http://www.klmetropolis.com


Phase 1: 2011-2015
The first phase of the KL Metropolis development involves an estimated GDV of RM6 billion and will see the construction of the new Matrade HQ, an exhibition centre, a retail space offering more than two million sq ft, a residential tower, two hotels and two office buildings.

Matrade Centre will open in 2015.







This post has been edited by accetera: Oct 25 2011, 10:26 PM

Well I guess only "cronies" can come out with these projects and bear the risk of the project like this... LOL

Frankly, the Banks believe in these "cronies" more than any tom and hairy.

Chinese biz will invest in any places that can offer GROWTH and the desired Yield, and if the market in Msia is getting saturated and the cost in Malaysia is going up surely they will expand overseas. When opportunity arises, Chinese biz will sell down any slow-going business.

In fact, Corporate Msia and the Govt are very supportive of our companies investing abroad to broaden their Revenue base, in return Msian shareholders will also enjoy the dividends from overseas earnings.

This is the same in all countries' corporate. Look at American and Japanese companies, all of them invest in overseas more than they invest in their home country for the last few decades. Even China (you name it), Indonesia (Golden Agri), Thailand (PTT) and Philippines (San Miguel buys Esso) are doing the same now, investing billions of hard-earned dollars in another competitor country.

This post has been edited by accetera: Oct 26 2011, 03:03 PM

Frankly speaking, in Corporate Malaysia nobody knows who is Robert Kuok, because he was never living in Malaysia in recent times and he's quite old already so he belong to previous previous generation.

As for the other companies you mentioned, well, they are investing billions locally as well (YTL big projects, Lion is doing something big, IGB with MV Phase3, Genting is venturing into local real estate). Again they have to go overseas as well to participate in the growth stories of other nations as well. Becoming GLOBAL is the tagline.

Yes Msia is getting saturated and our market is relatively small.

FYI Malaysia has the most developed of these industries you mentioned if you're comparing with Thailand, Indonesia and Philippines. But of course our neighbours are catching up, and I do keep track with all their economic, corporate, infrastructure and real estate developments on a daily basis for me to say this (you can view them in Skyscrapercity forums).

I'm not sure whether you realise alot of things you see today still belongs to Robert Kuok. A simple example is the fast expanding Golden Screen Cinemas.

Again our focus should be growing our Services Sectors like what we are currently doing with these megaprojects - Business Services, Hospitality, Real Estate, etc. Our services sector is just under 50% whereas to be a high income nation it needs to get pass 70%. Thus, we obviously cannot be attracting the same FDIs like some of our neighbours do. We need high-impact investments that offer lucrative returns, not merely asking someone to come here for the sake of enjoying Tax Holidays.

I'm a Chinese DAP supporter and yet I've high hopes for this country simply because I myself is involved in doing something in return and I know what people see in the Mainstream as well as Opposition media out there is not entirely true sometimes. FYI every government has their cronies, the next question, is whether these cronies do their jobs properly, accountably and ethical. This is the biggest concern as many Malaysians have not reached this maturity level.

The fule of thumb: Decisions made by politicians cannot be just socially-correct in the minds of people, it also have to be politically-correct.

I suggest leave this thread out of these issues, and megaproject like this is definitely good for the economy.

Additional info:
- Malaysia looks set to achieve record-breaking FDI this year.
- Greater KL alone will see "Hundreds" of newly-planned Real Estate projects. Few hundred of skyscrapers will be built by the year 2020 despite the softer market lately.
- Your say about white elephant is as good as mine, but in today's world, you have to build first to create demand (just like in other countries like China). Just like AirAsia, they need to advertise cheap fares first to create demand. You'll die if waiting for demand to come to your doorstep. Remember: BUILD-and-then-SELL concept.
- We are lack of 5-star facilities in KL, so megaprojects like this is Good.


You can find me on http://www.patchay.com and 'PropertyTalk & Lifestyle Malaysia @ Facebook' ( http://www.facebook.com/groups/115179435202482 ).

This post has been edited by accetera: Oct 26 2011, 11:32 PM

offtopic:

ASSASSINS is married?

Happy Birthday.


***********************

nah...

more info
1 block 100-120 storey Icon Tower
10 blocks 40-60 storey Residence Towers
8 blocks 40-60 storey Office Towers
4 blocks 40+ storey Hotels
2 Shopping Malls
1 Exhibition Ctr
1 International Medical Ctr
2 International Schools





Matrade Centre construction update:

This post has been edited by accetera: Oct 27 2011, 06:18 PM

traffic and road dispersal is big concern here...

No.

Rumours is that WCT has got the tender to build new MITI Hq... juz off the KL Metropolis masterplan (u can see it in the video or in the masterplan pic.. below letter "C")

Photo by davidwsk last month...




(benoy for kl metropolis phase a2)

MATRADE Centre @ KL Metropolis
contributed by dengilo

Perhaps in 2014 or 2015. Pushed back. Focus is on Matrade and planning for Phase 1.

Heard they will be revealing soon. Very interesting.

Naza TTDI gets RM100m more fund for KL Metropolis
Business Times | 4 May 2014
http://www.nst.com.my/business/nation/naza...opolis-1.585691


KUALA LUMPUR: Property developer Naza TTDI Sdn Bhd is borrowing another RM100 million from Al Rajhi Bank Malaysia as working capital for its iconic RM20 billion KL Metropolis project here.

“Naza TTDI has previously used our facility. We’re pleased to continue our support in its development of KL Metropolis,” said Al Rajhi Bank Malaysia chief executive officer Datuk Azrulnizam Abdul Aziz.

KL Metropolis is set to be the nation’s newest international trade and exhibition district that houses the new Matrade Exhibition and Convention Centre, which will be Malaysia’s exhibition centre.

More than 5.3ha will be allocated for the Matrade centre while development on the remaining 25.3ha will be completed in three phases over 15 years.

KL Metropolis is located within the same neighbourhood of Kenny Hills, Damansara Heights, Bangsar, Mont Kiara and Sri Hartamas. It is just 5km away from the KLCC and accessible via well-connected highways such as Sprint and the North Klang Valley Expressway.

The first phase, which will consist of residential and office towers, a regional retail centre and the Matrade centre, is scheduled to be up by 2016.

Azrulnizam was speaking to reporters after a loan signing ceremony between Al Rajhi Bank Malaysia and Naza TTDI, which was represented by its deputy executive chairman and group managing director SM Faliq SM Nasimuddin.

Al Rajhi Bank, the world’s largest Islamic banker, has 24 branches throughout Malaysia.

It has been expanding steadily since it first set foot here in 2007. As at end-2013, its customer base had expanded to more than 160,000.

Supposed to build office tower and hotel first right?

That's what they submitted to DBKL after Matrade Centre.

Plot 6A: Show gallery
Plot 6C: District cooling centre
Plot 4: 2 blocks of 46-storey Service Apartments
Plot 7D: 2 blocks of Hotel with 1,219 rooms (office no more?)

This post has been edited by accetera: Feb 28 2015, 10:23 AM

Malaysia’s largest exhibition space to be fully operational soon
The StarBiz | Tuesday, 18 October 2016 | MYT 8:02 PM
http://www.thestar.com.my/business/busines...erational-soon/



From left: SM Faliq, Naza World Group of Companies group executive chairman and group chief executive officer Datuk Wira SM Faisal SM Nasimuddin and Naza TTDI chairman SM Nasarudin SM Nasimuddin at the launch of KL Metropolis Show Gallery.


KUALA LUMPUR: Property developer Naza TTDI is expecting the Malaysia International Trade and Exhibition Centre (MITEC) to be fully operational by the first quarter of 2017.

Speaking at the launch of the KL Metropolis Show Gallery on Tuesday, Naza TTDI deputy executive chairman and group managing director SM Faliq SM Nasimuddin said MITEC, the first component of the 30ha KL Metropolis master development, had been completed.

“We’re confident that MITEC with its capabilities to host international events will encourage further growth to the business tourism and MICE (Meetings, Incentives, Conferences, and Events) industry in Malaysia,” he said.

With a gross development value (GDV) of RM810mil, MITEC, the country’s largest exhibition space with a gross exhibition floor area of 92,903 sq m and 11 exhibition halls, will be able to accommodate up to 40,000 visitors at a time.

Launched in 2011 with a total GDV of RM20bil, KL Metropolis has eight precincts with Met 1 consisting of two office towers, a destination mall and a serviced residences which is expected to make its soft launch in November and the official debut in January.

Met 2 will highlight a hotel and an office tower, Met 3 will have a lifestyle mall, a signature tower, a luxury condominium, a five-star hotel and class A office towers, while Met 5 will include a four-star hotel and feature a joint venture project with Hap Seng Land Sdn Bhd to build residential blocks and offices.

There will be a standalone class A office tower in Met 6, luxurious wellness suites in Met 7 to promote and develop medical tourism in Kuala Lumpur, another two office towers which will be jointly developed by Triterra Metropolis Sdn Bhd in Met 8 and a six-star hotel in Met 9 to cater to MITEC exhibitors and participants.

Meanwhile, KL Metropolis’ Arte segment will have three towers of simplex and duplex suites and serviced apartments with a GDV of RM1.2bil to be be built in collaboration with Nusmetro Property Sdn Bhd.

“We understand that the market is very soft at the moment but a project is about future projections. There will always be challenges moving forward but it’s about how we address them.

“For instance, we’ll launch the residences first and when the demand for offices picks up again, we’ll release more office towers,” Faliq shared, adding some precincts and components may be delayed or changed depending on the market scene.

“Right now, it’s critical for us to bring investors in for the hotel component. We have spoken to a handful of regional and local investors and we hope to secure something soon, hopefully by the first quarter of next year,” he said.

The precincts are expected to be fully launched by the second quarter of 2022 and completed by 2026.

With the gross area of 1,300 sq m, the KL Metropolis Show Gallery was designed with spaces for a concierge, coffee bar, audiovisual rooms, two show units, a discussion area and a children play area.

This is MET 1.

I thought it was quite good as well... the PSF deal is good. Solaris 3/Publika 2 is gonna be way higher than this.

But decided to hold the brake first mainly because I want to see how MITEC will perform. Yes they have many phases, which are mainly commercial offices. We all know commercial is a glut. The next residential phase will be the Hap Seng JV which may not start so soon... they are looking at 2018 earliest.

High end condos will have a risk and this case, I would prefer the smallest type to minimise my instalment cost. An alternative is to look into subsale of surrounding area.

This post has been edited by accetera: Nov 20 2016, 09:49 AM

It needs time to succeed... in almost every new project today when it gets completed.

There are many below market value right now if scout around, nevertheless, the masterplan here is still very good, just that it is "over dependent" on MITEC essentially. This itself will be a risk in the first few years. They say a shopping mall will come up at MET3... and that will be few years from now. MRT3 is not so fast.

Good news is the extension of Publika (well it will be considered as a standalone identity) will be selling much more expensive PSF wise and this is likely to be confirmed as we sat with them recently.

This post has been edited by accetera: Nov 20 2016, 11:09 PM

Yes under Kiara Realty as exclusive appointment. Yes Publika one is freehold.

This post has been edited by accetera: Nov 21 2016, 12:41 AM