Tradewinds Corp buys land near ex-Istana Negara for RM258m

KUALA LUMPUR: Tradewinds Corporation Bhd has purchased 12.2 acres of land at Jalan Belfield in the vicinity of the former Istana Negara for RM258mil, which will be the lauch site for its maiden mixed-use development.

The company said on Friday the development of the first parcel of 9.3 acres with a gross development value (GDV) of RM3.8bil would comprise of high-quality residences centered on a niche eco-friendly retail component.

Tradewinds Corp, whose core businesses are hospitality and property development, said the land purchase was internally financed.

Group managing director Datuk Wira Azhar Abdul Hamid said the company’s market driven strategy was to develop properties to cater to the evolving and discerning desires of Malaysians. 

“Tradewinds Corp will develop properties synonymous with exemplary quality, well-conceived designs and efficient layouts while delivering excellent value to buyers. 

“Our six-phase Belfield development perfectly aligns with this approach. Its location along Jalan Belfield and the proximity to several mega projects and the city centre will help unlock significant value and establish bankability for our potential buyers,” Azhar said. 

Work on Phase 1 will start early next year and the project would be opened for sales shortly after. 

The company said the Belfield development would complement its other upcoming projects such as Menara Tun Razak, Bukit Bintang Plaza and Tradewinds Square.

Tradewinds Corp is already engaging with potential strategic partners to develop its existing land bank exceeding 4,000 acres across Malaysia. 

“Besides having a steady project pipeline in place, we will be in a strong position to influence the future of property development in Malaysia,” Azhar added.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Next In Business News

CPO futures trading to remain range bound next week
Advisory panel unanimously recommends FDA authorize Johnson & Johnson COVID-19 vaccine
GameStop rally fizzles; shares still register 151% weekly gain
NYSE begins move to delist Chinese state oil producer CNOOC
Oil price drops on US$ strength and OPEC+ supply expectations
GLOBAL MARKETS-Globals stock slide on inflation fears
AMMB says it has enough capital to absorb 1MDB global settlement�
A five-year high for FGV Holdings
AMMB to pay RM2.83bil to the government
IHH to take proactive measures

Stories You'll Enjoy