KUALA LUMPUR: MBM Resources Bhd (MBMR) held its official groundbreaking ceremony on Tuesday, July 5 for its new RM240 million Menara MBMR project. The 24-storey office tower will replace the Federal Auto building along Jalan Syed Putra.
The 1.2-acre site next to Mid Valley City that had housed a Volvo showroom and service centre since 1971 will be developed by Inai Benua Sdn Bhd, a subsidiary of MBMR, in partnership with Teknikhas Sdn Bhd and Meridian Residence Sdn Bhd.
In its press release, MBMR said the project will be completed in the third quarter of 2014. Menara MBMR will have a brand new Volvo showroom on the ground and mezzanine floors. The top six floors of the Menara MBMR will house MBMR's corporate headquarters.
MBMR managing director Looi Kok Loon said that the project was part of the group's strategic move to realise the value of its prime assets.
"We have been disposing of older and smaller properties that no longer meet our growing needs. With strategic parcels of land that we own and on which we operate showrooms such as this, we will be looking into redeveloping them to unlock their true value in line with our expansion plans," he said.
Looi said that nearly 70% of Menara MBMR had already been sold, although the project was only officially launched on May 23.
"Menara MBMR presents a tremendous value proposition to our target market of small and medium corporates. It is perfect for those who are seeking to purchase their own premium office space and upgrade to a prestigious new address," he added.
MBMR also said that Menara MBMR is the only freehold, Green Building Index-certified (GBI) Grade A office building in the vicinity of Mid Valley City. It has a total of 135 units of office space, with sizes ranging from 1,060 sq ft to 3,836 sq ft. Each unit comes with its own individually-controlled and dedicated air-conditioning system and executive toilet facilities. added that Menara MBMR, which is aiming for MSC status, will also have a full-fledged serviced office to cater to automotive-related ICT start-ups that the MBMR Group plans to nurture.
Menara MBMR is linked to several major highways such as the New Pantai Expressway (NPE), North Klang Valley Expressway (NKVE), Kerinchi Link, Lebuhraya Damansara Puchong (LDP), East-West Highway Link, KL-Seremban Highway and the KL-Putrajaya Highway, as well as via public transport.
MBMR also said it will be providing a covered link from Menara MBMR to Mid Valley Megamall. This will give it access to approximately 15,000 car parks and a number of food and beverage outlets, retail stores, banks, hotels, entertainment facilities and even healthcare facilities.
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