KUALA LUMPUR (Dec 23): KLCC (Holdings) Sdn Bhd, a unit of national oil and gas company Petroliam Nasional Bhd (Petronas), on Monday said that it has acquired 486 acres (196.68 hectares) of Bandar Malaysia land for an undisclosed price.
A sale-and-purchase agreement for the land, the site of the former Royal Malaysian Air Force base on Jalan Sungai Besi, Kuala Lumpur, was signed with Bandar Malaysia Sdn Bhd and Bandar Malaysia Land Sdn Bhd on Oct 4, the company said in a statement.
The statement also did not provide other financial information.
“KLCCH will undertake the development based on commercial viability over a long-term period,” the company said. “The development is envisioned as an international business hub and a liveable and inclusive city for the community.”
The statement follows a report by The Edge Malaysia weekly in its Dec 23-29, 2024 issue that Bandar Malaysia land is being taken over by one of Petronas’ companies in a deal estimated to be worth as much as RM12 billion.
KLCCH develops and manages real estate properties in the Kuala Lumpur City Centre and Putrajaya. It is the master developer of the 100-acre prime land in the commercial hub of Kuala Lumpur, which is home to the 452-metre Petronas Twin Towers, the world’s tallest twin towers.
Source: EdgeProp.my
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