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KUALA LUMPUR: Felcra Bhd, which is building a new headquarters for RM850mil, is planning to launch property projects in Malacca and Kuala Lumpur with total gross development value (GDV) of RM750mil.
Other projects to be developed by its subsidiary Felcra Properties Sdn Bhd, include a mixed development project at Bukit Changgang in Dengkil, as well as a RM500mil hotel in Kuah, Langkawi.
According to its chairman Datuk Bung Mokhtar Radin, the group is targeting to develop properties with a combined GDV of RM7.2bil.
“We will develop the land in stages,” said Bung Mokhtar after the ground-breaking launch of Menara Felcra by Prime Minister Datuk Seri Najib Tun Razak on Thursday.
The Menara Felcra project is located on a 4.26-acre site in Jalan Semarak, Kuala Lumpur, and will comprise a 35-storey Menara Felcra office tower (the group’s new headquarters), a 43-storey residential tower, a retail mall, and an auditorium and banquet hall.
Part of Menara Felcra will be open for leasing, while 12 floors will be occupied by Felcra.
The GDV of the Menara Felcra mixed development is RM850mil, according to Bung Mokhtar.
“Work on Menara Felcra will start after Hari Raya, and it is due to be completed in three years,” said Bung Mokhtar.
The main contractor for the Menara Felcra mixed development is WZR Group.
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