UEM says KL118 Tower project, taller than Petronas Towers, ongoing

KUALA LUMPUR: The KL118 skyscraper project, also known as Menara Wawasan, is ongoing, according to UEM Group Bhd chairman Tan Sri Ahmad Tajuddin Ali.

“We have started it and now it’s in the finalisation of design stage. The original plan is to complete by 2020, but to me it’s too early to say whether we are going to be able to be on schedule because there are some detailings going on,” he said here yesterday.

“But I am sure the team would do its best to meet the deadline,” he told Bernama on the sidelines of UEM Group’s Hari Raya open house here yesterday.

The major construction contract worth about RM3.4bil was awarded by Permodalan Nasional Bhd (PNB) to the joint venture between UEM Group and South Korea’s Samsung C and T last year.

Samsung C and T was reported to have had experience participating in the building of skyscrapers, which include the Petronas Twin Towers and Burj Khalifa in Dubai, which is currently the tallest building in the world at 828 m.

PNB, via its wholly-owned subsidiary, PNB Merdeka Ventures Sdn Bhd, is the owner of the tower located within the enclave of Merdeka Stadium and Stadium Negara.

The KL118 Tower, which would be the tallest building in the country, is among the remaining major construction projects managed by UEM Group, placed under UEM Builders Bhd.

The tower is planned to be over 500 ms tall and will surpass the 452-m Petronas Twin Towers, and is slated to become a new landmark in Kuala Lumpur city centre. It was reportedly said to generate a gross development value of more than RM6bil over five years.

Ahmad Tajuddin said UEM Group is at the moment on a reorientation mode of moving away from undertaking construction to become a project developer and it was also considering to be involved in concession business. – Bernama

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

Trading ideas: KNM, Opcom, Ageson, AME, Gagasan, MGRC
Summary of business stories from Oct 18 to 23
PIE rides on high-tech wave
Asia stocks hurt as profit forecasts at 12-year low versus world
Rubber market expected to be range-bound this week
Xin Hwa sees surging storage demand
Sime Darby confident China businesses will prosper
OM Holdings eyes capacity expansion
Fama records RM122mil sales in less than two months
Tax revenue from petroleum products to help those in need

Others Also Read