M101 Holdings appoints China Huashi as Skywheel’s main contractor

KUALA LUMPUR (Jan 17): M101 Holdings Sdn Bhd has appointed China Huashi Enterprises Co, Ltd as the main contractor for the M101 Skywheel development, which carries an estimated gross development value (GDV) of RM1.8 billion, in Kuala Lumpur.

M101 Holdings CEO Datuk Seth Yap said China Huashi will also fund RM50 million of the construction cost, which is equivalent to the cost of M101 Skywheel’s substructure construction.

“We are very careful in selecting the right partners to work on Skywheel as we want to build a high-quality iconic project. We chose to work with China Huashi as it has a proven track record in building challenging high-rise structures and the company has strong financial strength,” he told the media after the signing ceremony of the agreement today.

China Huashi deputy managing director Wan Xiao Lin said M101 Skywheel is a one-of-a-kind project and the company sees a lot of potential in the integrated development.

“As a testament of our commitment, we will be financing RM50 million of the construction cost. Further to this, we have assigned this project to one of our most experienced project management team,” he added.

China Huashi is an experienced builder specialising in high-rise developments. Their past developments include the 243m high Chengdu Global Centre, 31m high Sichuan TV Tower and the 204m high Sichuan Airline International Plaza.

M101 Skywheel will be the flagship project for M101 Holdings. The iconic development is slated for completion by 2020.

Located in Kampung Baru, near Kuala Lumpur city centre, the two-acre integrated development will comprise two 78-storey towers and a Ferris wheel (60m in diameter) to be built on the 52nd floor in between the two towers.

Its components include Small-office Flexible-office units, a retail mall, office space and serviced suites, as well as a Planet Hollywood hotel.