MITEC on track to be completed by June 2016

KUALA LUMPUR (Feb 22): The Malaysia International Trade and Exhibition Centre (MITEC) – poised to be the country’s largest exhibition space -- is currently at 88% progress and on track to be completed by June, according to KL Metropolis’ master developer Naza TTDI Sdn Bhd.

Its deputy executive chairman and group managing director SM Faliq SM Nasimuddin said the construction of MITEC together with the road infrastructure is on track for completion by mid year.

“The progress is aligned with the Prime Minister’s vision for KL Metropolis to be a world class international trade and exhibition district for Kuala Lumpur,” he said in a press statement.

MITEC is the first component of Naza TTDI Sdn Bhd’s 75.5-acre, RM20 billion KL Metropolis development.

The exhibition centre, which can accommodate 40,000 visitors at a time, will have a total of 11 exhibition halls and a gross floor area of 1 million sq ft.

It will also have a multipurpose hall, meeting and conference rooms, media and press facilities, VIP lounges, restaurants and food outlets.

Naza TTDI envisions KL Metropolis to be the International Trade and Exhibition City for Kuala Lumpur, in which there will be seamless integration within every surrounding component that includes residential, commercial, retail, cultural and civic amenities, and hotels to create a new cultural and exhibition hub for Kuala Lumpur.

The entire project is expected to be completed in 2025.

The company is also planning to develop another 4.29 acres in KL Metropolis with a gross development value of RM1.2 billion. It will comprise two commercial towers and one high-end serviced apartment block.

The launch of the serviced apartments is expected at the end of the year and the overall development completion for this phase is due within five years.

Meanwhile, Naza TTDI is collaborating with three property developers to develop some plots within KL Metropolis.

SM Faliq said the three collaborations cover a total plot size of 15 acres and will be the catalyst to further accelerate the progress of KL Metropolis in the first development phase.

Naza TTDI most recently inked an agreement at end-January with Hap Seng Development Sdn Bhd to jointly develop an 8.95-acre plot within the KL Metropolis masterplan.

“Two earlier collaborations were established last year, with Nusmetro Property Sdn Bhd for the development of 3.29 acres and Keystone Impetus Sdn Bhd to develop 2.47 acres,” he explained.

The Nusmetro project will be a mixed-use development of three towers consisting of serviced suites, serviced residences and managed residences, targeted for completion by 2019.

The Keystone Impetus deal will entail the development of two blocks of stratified office building expected for completion by 2021.