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: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Business News

Impiana Hotels secures 5-year contract to manage Petronas leadership centre
Serba Dinamik appoints Nexia as new external auditors
F&N posts higher sales in Q3, but rising costs dent earnings
Political turmoil weighs on Bursa
As China's recovery wobbles, economists expect more policy easing
Thai c.bank holds key rate at record low amid COVID-19 surge
Sony posts Q1 profit jump on pandemic demand for devices and content
LBS Bina records property sales of RM684m as at end-July
Airline industry statistics confirm 2020 as worst year on record
Merchantrade Asia, NPCI offer real-time remittances to India

Stories You'll Enjoy


Vouchers