KUALA LUMPUR: Malaysian conglomerate AlloyMtd Group, via its wholly-owned subsidiary MTD Capital Bhd, plans to launch its One Crown Place mixed development project in London next year despite the uncertainties brought about by UK’s vote to leave the European Union.
The project marks the group’s re-entry into the London real estate market.
Group president and chief executive officer Tan Sri Dr Azmil Khalid said in a press release that the group would be signing a contract with a construction company later this year to develop the 0.94-acre site.
Branded as Ardeir, meaning ‘to glow’, the project comprises a boutique hotel, offices with 246 units of private apartments in two tower blocks above the office podium and some leisure and restaurant space.
Ardeir, which has a gross development value of about £500mil (RM2.57bil), is expected to be completed in 2020.
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