KLCC Holdings acquires 486 acres of Bandar M’sia land for development

KLCC Holdings acquires 486 acres of Bandar M’sia land for development

The company will transform the former army base in Jalan Sungai Besi into a long-term development envisioned as an international hub and inclusive community city.

KLCC Holdings, a subsidiary of Petronas, has announced plans to develop the 486-acre Bandar Malaysia site acquired in October. (File pic)
PETALING JAYA:
KLCC (Holdings) Sdn Bhd (KLCCH), a subsidiary of Petronas, has announced its acquisition of 486 acres of Bandar Malaysia land for an undisclosed sum.

KLCCH confirmed the signing of a sale-and-purchase agreement on Oct 4 with Bandar Malaysia Sdn Bhd and Bandar Malaysia Land Sdn Bhd for the site, which previously housed the Royal Malaysian Air Force base on Jalan Sungai Besi, Kuala Lumpur.

“KLCCH will undertake the development based on commercial viability over a long-term period,” the company said in a statement.

“The development is envisioned as an international business hub and a liveable and inclusive city for the community.”

Earlier today, KLCC Property Holdings Bhd (KLCCP) denied reports of having acquired Bandar Malaysia from the finance ministry in a deal worth up to RM12 billion.

KLCCH is known for developing and managing key properties in Kuala Lumpur City Centre and Putrajaya.

It is also the master developer of a 100-acre plot of prime land that includes the iconic 452m Petronas Twin Towers, the world’s tallest twin towers.

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