Naza to undertake RM15 bil development under privatisation deal

KUALA LUMPUR: Naza TTDI Sdn Bhd is undertaking a RM15 billion development project, which comprises the Matrade Centre, residences, offices, a shopping mall and a hotel, on a 65-acre plot of land in Jalan Duta, under a privatisation deal with the government.

Naza TTDI subsidiary TTDI KL Metropolis Sdn Bhd will develop the Matrade Centre, which will be the country's largest exhibition and convention centre, at the cost of RM628 million on a 13.1-acre site, said Naza TTDI chairman SM Nasaruddin SM Nasimuddin.

He said the development of the Matrade Centre would be funded via bank borrowings and the group’s internal funds. “At the moment, we are still in talks with various local banks,” he told reporters here on Nov 17 after the signing of the privatisation agreement with the government and the government entity Syarikat Tanah dan Harta Bhd.

The entire project, plus the commercial and residential development, will have a gross development value of RM15 billion, spanning a period of 10 years.

TTDI KL expects to begin construction of the Matrade Centre in the second quarter of next year, with the planned completion in 2014.

The new building will be linked to the existing Menara Matrade and will have three floors to house 12 exhibition halls, which can accommodate large space exhibitions of heavy industries and advanced technology.

It also will house an auditorium, which can accommodate 1,230 people, a multi-purpose hall, meeting rooms and display areas. “It will be similar to exhibition centres in neighbouring countries such as Thailand and Singapore,” Nasaruddin said.

“Green building initiatives will also be a key element in the design to give delegates and visitors alike a sense of comfort and harmony,” he said.
On the other developments, Nasaruddin said TTDI KL was in the midst of finalising the master plan that would be unveiled early next year.

“Currently, there are four international architecture companies bidding for the project’s master plan,” he added.

Naza TTDI, part of the diversified Naza Group, is well known for the development of the Taman Tun Dr Ismail township in Kuala Lumpur and has to date completed more than 14,000 residential and commercial units.

It is also in the midst of developing the RM4 billion Platinum Park, a world-class high-end integrated residential and commercial development in Kuala Lumpur City Centre (KLCC).