The proposed 100-storey Menara Warisan Merdeka development, slated to be the country's tallest building, has received strong pre-booking enquiries for more than 60 percent of its lettable space, according to a Business Times report.
About 30 percent of the development's space is reserved for its developer, Permodalan Nasional Bhd (PNB) and other government-linked companies under the developer, said industry source.
Scheduled to be launched by the end of this year, Menara Warisan Merdeka will cost between RM2.5 billion to RM3 billion. The development will have a net floor space of 2.2 million sq ft and 3.0 million sq ft in gross floor space.
The first phase will be followed by two subsequent phases that will comprise condominiums and a shopping complex. The whole development will cost RM5 billion and is expected to be completed within 10 years.
Last month, PNB announced that the Kuala Lumpur City Hall had granted an order to build the project on several conditions including legal matters.
Tan Sri Hamad Kama Piah Che Othman, Chief Executive Officer of PNB, said the group is studying the terms of the order to ensure proper planning for the project.
The master plan for the development has been approved in 2005 while the principal concept for the iconic building was approved in 2009.
PNB Merdeka Ventures Sdn Bhd, a unit of PNB, will carry out the project with Sime Darby Property Bhd and Tengku Abdul Aziz Tengku Mahmud.
Following its completion, the Menara Warisan Merdeka will stand over 600m tall, exceeding the 453m Petronas Twin Towers, 509m Taipei 101 and 829m Burj Khalifa.
For the latest property news, trends, resources and expert opinions, visit our Property News section. Home buyers, sellers or property renters looking for Malaysian Properties, may like to visit http://www.propertyguru.com.my today.
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PNB gets green light for Menara Warisan Merdeka
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RM5b Warisan Merdeka project to commence next year
The proposed 100-storey Menara Warisan Merdeka development, slated to be the country's tallest building, has received strong pre-booking enquiries for more than 60 percent of its lettable space, according to a Business Times report.
About 30 percent of the development's space is reserved for its developer, Permodalan Nasional Bhd (PNB) and other government-linked companies under the developer, said industry source.
Scheduled to be launched by the end of this year, Menara Warisan Merdeka will cost between RM2.5 billion to RM3 billion. The development will have a net floor space of 2.2 million sq ft and 3.0 million sq ft in gross floor space.
The first phase will be followed by two subsequent phases that will comprise condominiums and a shopping complex. The whole development will cost RM5 billion and is expected to be completed within 10 years.
Last month, PNB announced that the Kuala Lumpur City Hall had granted an order to build the project on several conditions including legal matters.
Tan Sri Hamad Kama Piah Che Othman, Chief Executive Officer of PNB, said the group is studying the terms of the order to ensure proper planning for the project.
The master plan for the development has been approved in 2005 while the principal concept for the iconic building was approved in 2009.
PNB Merdeka Ventures Sdn Bhd, a unit of PNB, will carry out the project with Sime Darby Property Bhd and Tengku Abdul Aziz Tengku Mahmud.
Following its completion, the Menara Warisan Merdeka will stand over 600m tall, exceeding the 453m Petronas Twin Towers, 509m Taipei 101 and 829m Burj Khalifa.
For the latest property news, trends, resources and expert opinions, visit our Property News section. Home buyers, sellers or property renters looking for Malaysian Properties, may like to visit http://www.propertyguru.com.my today.
Related Stories:
PNB gets green light for Menara Warisan Merdeka
Warisan Merdeka to change KL skyline
RM5b Warisan Merdeka project to commence next year
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