PNB awards Merdeka 118 shopping mall contract to WCT-TSR JV

KUALA LUMPUR: PNB Merdeka Ventures Sdn Bhd, the developer of the Merdeka 118 project, has awarded the contract to build an eight-storey  shopping complex at the former site of Stadium Merdeka to a joint venture between WCT Holdings Bhd and TSR Capital Bhd.

The RM676.8mil job will commence on Jan 2, according to WCT and TSR Capital in separate filings with Bursa Malaysia today.

The shopping complex will be part of the integrated Merdeka 118 development comprising the PNB 118 Tower, the Park Hyatt Hotel, and an observation deck.

WCT will take a majority 51% stake in the joint venture company, with TSR Capital the holding the rest.

“The scope of works for the contract generally includes the construction and completion of an eight level shopping complex podium, including the architectural works for the basement, retail area, residential drop-off and core, tower link bridge and external works,” WCT said.

The project is expected to be completed within 30 months, or two-and-a-half years.