KUALA LUMPUR (Oct 2): Naza TTDI and Australia's Lend Lease will join hands to develop 4.376 hectares of land into a mixed development with a gross development value of RM4 billion.
In a statement, the property arm of Naza Group of companies said the development, which would be at its KL Metropolis flagship development, would comprise a regional retail centre, office, hotel and residences.
Based in Australia, Lend Lease is a fully integrated international property and infrastructure group.
Naza TTDI deputy executive chairman and group managing director SM Faliq SM Nasimuddin said the collaboration augured well for the company's aspiration and vision to position KL Metropolis as Kuala Lumpur's international trade and exhibition district.
This is where a hub for retail and commercial activities, as well as, residences would be created to complement the new Matrade Exhibition Centre that was expected to take shape in 2015, he said.
He said the collaboration would bring together the resources and experience of both parties in their respective areas of expertise and hoped to see the realisation of the joint venture by year-end.
With a gross development value of RM15 billion, KL Metropolis is Naza TTDI's 30.2 hectare project that is poised to propel the country as a preferred meetings, incentives, conventions and exhibitions (MICE) destination in the region. — Bernama