Warisan Merdeka – a beacon to PNB’s future

The 100-storey 5-star green building is set to attract more interest to the whole development.

BACK in 2000 when Permodalan Nasional Bhd (PNB) was presented the opportunity to buy the 14.5ha where Stadium Merdeka and Stadium Negara are located, it had decided to retain the heritage value of this priceless asset while looking for opportunities to develop the surrounding area.

A decade later, PNB is doing precisely that.

PNB paid RM310mil or RM220 per sq ft to buy the land from Pengurusan Danaharta Nasional Bhd. The market value of the land has since appreciated to RM800 per sq ft today.


From left: PNB deputy president for corporate and international Jamiah Abdul Hamid, Tan Sri Hamad Kama Piah Che Othman, PNB Merdeka Ventures CEO Tengku Abdul Aziz Tengku Mahmud and PNB senior-vice president, head of property division Ibrahim Awang at the briefing.

At a special briefing for media editors on Wednesday, PNB president and group chief executive Tan Sri Hamad Kama Piah Che Othman disclosed that the heritage aspect has been fulfilled through conservation works to restore the heritage characteristics of Stadium Merdeka and Stadium Negara. The two stadiums are now being managed by a heritage trust.

Both the stadiums are occupying 6.8ha, which have been identified as a national heritage site.

Hamad says the overall Warisan Merdeka development on the remaining 7.7ha will complement and blend with the heritage theme. He is optimistic that together with the restored stadiums, the site will be another major landmark in Kuala Lumpur.

“We are looking at ways on how to integrate the building aspects of the stadiums with the planning of the overall development of Warisan Merdeka. The heritage part will not be sacrificed and will actually serve as the enhancement factor to the commercial aspects of the building. The heritage preservation of the stadiums will be undertaken by the heritage trust,” he explains.

Construction work on the 100-storey Warisan Merdeka tower will kick off next year.

Touted to be the country’s tallest when it is completed in 2015, the building will cost RM2.5bil to RM3bil. It will have gross floor space of 3 million sq ft and 2.2 million sq ft of net floor space.

Hamad says the five-star green building will be the “beacon” to create more excitement and attract more interest to the whole development.

This will be followed by two subsequent phases comprising a shopping complex and condominiums. The whole development, to be undertaken over a 10 year period, will cost RM5bil.

On the rationale for mooting the project, Hamad says: “Since the plan to develop the land was approved by the PNB board in 2004, we were waiting for the right time to proceed with the project.



“The concept of 100-storey building, its retail portion and the condominium was mooted in early 2004 taking into account the need for enhancement of value and effective utilisation of the 19-acre land adjacent to Stadium Merdeka and Stadium Negara. In 2005, the master plan was approved by the municipal authorities followed by final titles being issued in 2008. The principle concept of PNB Iconic Building was then approved in 2009.”

He says that having held the land for so long, “we feel it is now the right time to go ahead. The Government is also promoting this type of development.”

Hamad stresses that most importantly, by initiating the Warisan Merdeka project, PNB is taking the lead to preserve the historical value of Stadium Merdeka as the site for the country’s declaration of independence back in 1957.

Emphasising that PNB is not looking to compete with anybody when it decided to put up a 100-storey tower as part of the Warisan Merdeka development, he says it will make more economic sense to build the high-rise tower than lower rise buildings.

He says as a state investment agency, PNB’s main concern is to maximise return for its stakeholders. “Each year, PNB declares income distribution of 6% to 7% to unitholders. The project with expected yields of between 8% and 10% will be able to meet our responsibility as an investment agency.”

Meanwhile, the new tower will be able to meet PNB’s need for new office space in line with its strategic positioning for the future.

Hamad says PNB will be moving out from its present headquarters, Menara PNB, which will be 30 years old when the tower project is completed, to the Warisan Merdeka tower upon its completion.

PNB has set up wholly-owned unit, PNB Merdeka Ventures Sdn Bhd to undertake the project. Helming it since early this year is Tengku Abdul Aziz Tengku Mahmud who was formerly from Guthrie Property Development Holding Bhd and Sime Darby Property Bhd.

So, will Warisan Merdeka be an iconic project and will there be foreign expertise involved such as the like of world renowned architect Cesar Pelli who designed the Petronas Twin Towers?

Hamad says the project design plans are still in the drawing board.

“We are in talks with several parties comprising experts from the relevant fields. We are exploring the possibilities of creating a strong architectural and engineering team for the project,” he adds.

With its latest venture, PNB is certainly thrusting ahead with its plans to build up its presence in the local property scene.

By The Star

Towering message to deliver

While it's obvious some people got ahead of themselves in shooting down the plan, it is also fair to say that not all questions raised about the 100-storey project were adequately addressed.

The apparently growing opposition to plans by Permodalan Nasional Bhd (PNB) to build a 100-storey skyscraper as part of the Warisan Merdeka integrated project is a classic example of what can go wrong when information is either badly presented or poorly received.

Prime Minister and Finance Minister Datuk Seri Najib Razak, when announcing the project in his 2011 Budget speech on October 15, said the landmark, which will be developed by PNB, is to be completed by 2020.

The project would comprise a 100-storey tower, the tallest in Malaysia, and would retain Stadium Merdeka and Stadium Negara as national heritage. The total project cost is RM5 billion, with the tower to be completed by 2015.

Within minutes after the speech, the Opposition picked on the mega project, calling it a waste of funds. Put the money to better use by building more schools, improving rural infrastructure, and helping the needy, they said. It would affect returns from PNB unit trusts, others echoed.

Suddenly, in their eyes, Warisan Merdeka became a government-funded project. It wasn't. It was PNB's, and PNB is not in the business of building schools or upgrading roads and electricity supply.

Similarly, a facebook group - 1M Malaysians Reject 100-storey Mega Tower - was set up (it is not immediately clear by whom) and has more than 92,000 fans as at 5pm yesterday. The project is also a hot topic on blogs and Internet forums.

PNB had a press conference on October 20, five days after the budget, where we came to know that the project would also have a shopping complex and condominiums, and that the tower itself would cost RM2.5 billion to RM3 billion. The RM5 billion figure included other components of the development, and also factored in improving infrastructure in the area.

Its president and group chief executive Tan Sri Hamad Kama Piah Che Othman is confident that Warisan Merdeka will create spillover benefits. For starters, it will generate about 5,000 jobs in the development stage, and boost property prices in the area.

He said PNB has the capability to finance the project through internally-generated funds, and as an investment house, would seek to optimise returns from the development. It expected to yield returns of 8-10 per cent.

This has been PNB's policy with all its investments over the years, and its track record speaks for itself.

We also learnt that PNB had been planning to develop the land since 2004, conducted annual reviews, and decided that now was the right time to do it. Clearly, this wasn't a flight of fancy hatched up one night just to boast as some people perceive it to be.

While it's obvious some people got ahead of themselves in shooting down the plan, it is also fair to say that not all questions raised about the project were immediately and adequately addressed.

In the days to come, there could well be legitimate concerns about Warisan Merdeka and PNB's role in it, particularly on the part of its more than nine million unitholders, and Malaysians in general. The government, too, needs to clear up remaining confusion and scepticism about the project's benefits.

Let's hope the message gets across better next time.

By Business Times

Tough job for PNB

PERMODALAN Nasional Bhd (PNB) has studied market trends before deciding to embark on the Warisan Merdeka development, its president and group chief executive Tan Sri Hamad Kama Piah Che Othman says. The 100-storey tower will be a five-star green building which is still uncommon in Kuala Lumpur.

“We believe it will be able to meet the market’s growing need for such office space,” he explained when asked about the rationale for the tower project.

At a time when the world economy is still uncertain and amid rising prices, many Malaysians have questioned the necessity for the RM2.5bil to RM3bil tower project after Prime Minister Datuk Seri Najib Tun Razak announced the project in his budget speech last Friday.

Responding to questions on the project recently, Najib stressed the Government did not instruct PNB to construct Warisan Merdeka and that it was the investment agency’s board of directors that had wanted to embark on the project.

He said the area would be a business centre for both the bumiputra and non-bumiputra, and could be one of the country’s attractions that will generate profit.

Developers and property consultants have urged PNB to undertake extensive and in-depth feasibility and market studies to weigh the cost-benefit and potential impact of the tower on the property market.

The public also wants an environmental impact assessment study to be done on the project to look at the impact to the social system, the traffic situation and suitability of the site.

Most of the concerns are on whether the high-impact commercial development will cause an over supply of office space in the capital city, and the impact of the skyscraper to the worsening of the heavy traffic jams in the area.

There are also a number of schools in the vicinity and the expected heavier flow of the traffic have worried students, parents and the school authorities.

Hamad says PNB is looking to have the mass rapid transit (MRT) plying the Warisan Merdeka route.

“We are aware of the public’s concerns that the traffic jam in the area will worsen with the tower project, and will be working with the relevant authorities to look at ways to improve the infrastucture and traffic flow in the area,” he adds.

Hamad also allays fears that funds from unit trust investors or the Government will be used to finance the project.

He says PNB has enough funds to finance the whole development if need be but he does not rule out borrowings if interest rates are reasonable.

On the project’s positioning, Hamad stresses that the heritage elements of Merdeka Stadium will be one of the central themes and highlights of the project.

If that is the case, industry observers have asked whether PNB will look at introducing a full-fledged culture village around the historical site that can also double up as function destinations to ensure the the project will remain functional.

To avoid the project becoming a “white elephant” like many observers fear will happen, the culture village should be kept alive with interesting cultural performances and events on a daily basis.

Perhaps, the National Museum should be moved there as its historical ambience is the most appropriate to showcase important things and events of the country’s past.

On the rationale for the 100-storey tower instead of vying to be the world’s tallest, Hamad explains: ”We are not competing with anybody in the world in terms of the height of the building. Currently, there are already three buildings being planned at 1000m heights, surpassing Burj Khalifa’s 828m. There will be no end to this sort of competition. So making it the world’s tallest is a non-issue and we would not go into this.”

Hamad stresses that the building is not being designed to outshine any particular organisation, including the Petronas Twin Towers which have been and will continue to be Malaysia’s icon.

“We want the building to look architecturally good and acceptable whilst incorporating the green features. These are market expectations in the near future. With this, we can get a reasonable return on our investment on this building.”

Besides being the country’s most famous landmark, the 88-storey Petronas Twin Towers are the world’s tallest twin buildings today. Completed in 1998 at a cost of US$1.2bil, they were the tallest buildings in the world until they were “dethroned” by Taipei 101 which was completed in 2004.

The twin towers also have world renowned Argentine-American architect César Pelli, to thank for its unique and timeless design. The towers were constructed largely of reinforced concrete, with a steel and glass facade which have given them the magical and glittering effect.

On the cost difference between the two projects, Hamad says: “We are comparing relative costs, in terms of the timing of these two developments. Material prices have gone up quite a fair bit. The real yardstick is the return on investment, using current market prices and costs for the building materials and other related costs.”

By The Star

SP Setia hub sets green benchmark

SP Setia Bhd's Setia City integrated commercial hub in Shah Alam, Selangor, will have 40 office towers with green certification over the next 10 to 15 years, its chief said.



Setia City is by far the only commercial hub that will have more than 40 buildings. It will include residential blocks, four-star hotel, retail mall, convention centre, hospital and university.

Setia City, estimated to be worth RM5 billion, will set a new benchmark where green development is concerned, SP Setia president and chief executive officer Tan Sri Liew Kee Sin said.

According to Liew, Setia City will be the first integrated project in the country to have all its buildings certified under the Green Building Index.

"While green buildings may not be a new phenomenon in the country, they are usually standalone structures," he said at the launch of Setia City by Housing and Local Government Minister Datuk Chor Chee Heung yesterday.
Setia City, sprawled over 96ha in Setia Alam, is expected to attract local and multinational companies, Liew said.

SP Setia is also selling land at Setia City and companies which buy the land can build their own towers to their specifications.

To date, Top Glove Corp Bhd and Khind Holdings Bhd have bought land to set up Grade A office towers as their new corporate headquarters.

Top Glove will build an 18-storey tower, while Khind is mulling over its plans.

SP Setia will also set up its corporate headquarters in a nine-storey building.

Ongoing works at Setia City include the 1.23 million sq ft Setia City Mall by Land Lease Australia.

On the hotel, university and hospital, Liew said the company will talk to local operators to run the facilities.

Meanwhile, Chor said his ministry and Bank Negara Malaysia were monitoring property price movements to prevent a housing bubble.

"We are still far from a property bubble. But we are monitoring and will take action against speculators," he said.

By Business Times

SP Setia plans 40 corporate office buildings worth RM5bil in Setia City

From left: Tan Sri Liew Kee Sin, Housing and Local Government Minister Datuk Wira Chor Chee Heung, Cheng Ping Keat, Lee Kim Meow and SP Setia deputy president and COO Datuk Voon Tin Yow with a model of Setia City

SHAH ALAM: SP Setia Bhd plans to set up about 40 corporate office buildings in its 96ha integrated green commercial hub, Setia City that is worth RM5bil in gross development value when completed in 10 to 15 years.

The company has secured Top Glove Corp Bhd and Khind Holdings Bhd to set up their corporate headquarters in the hub, which will comprise office towers, hotels, service apartments and a retail mall.

“We are now in talks with a few local companies to set up their corporate office towers here and are not discounting the possibilities to talk to multinational companies in the future,” SP Setia president and chief executive officer Tan Sri Liew Kee Sin told a press conference after the official launch of Setia City by Housing and Local Government Ministry Minister Datuk Wira Chor Chee Heung yesterday.

He said SP Setia was constructing its own corporate building at Setia City, a nine-storey block with a four-storey annexed building connected to the mall via a bridge.

The construction of its headquarters was expected to start by the first quarter of next year and to be completed by end of 2012, he added.

Meanwhile, Top Glove managing director Lee Kim Meow said the company decided to initially go for a smaller building of between six and eight floors. With the additional land area, it has the option of expanding the size of its headquarters when the need arise.

Khind Holdings chief executive officer Cheng Ping Keat said: “We are still in the planning stage and will understand our needs going forward in order to make a final decision.”

On Setia City’s future development, Liew said the company planned to launch two blocks of serviced apartment and a SoHo next year, adding that it planned to build a three or four stars hotel and was in talk with a local company for a possible joint venture.

“We plan to build a medical centre and a private university. We will make sure we embrace the group’s live, learn, work and play philosophy for our township development,” he said.

By The Star

PNB to start 10-year Warisan Merdeka project with 100-storey tower

Tan Sri Hamad Kama Piah Che Othman pointing to the site of Warisan Merdeka development during the press conference pn Wednesday.

KUALA LUMPUR: Permodalan Nasional Bhd (PNB) will be undertaking the Warisan Merdeka development over three phases in 10 years starting with the 100-storey tower next year.

At a press conference yesterday to explain PNB’s plans for the project, president and group chief executive Tan Sri Hamad Kama Piah Che Othman said the development costing RM5bil would also have a shopping complex and condominiums.

The 100-storey tower – touted to be the country’s tallest – will cost RM2.5bil to RM3bil and will have gross floor space of 3 million sq ft and 2.2 million sq ft of net floor space .

“It will be a five-star green building. We are confident its completion in 2015 will create some excitement and spill-over benefits for the development as a whole,” Hamad added.

PNB has set up wholly-owned unit PNB Merdeka Ventures Sdn Bhd to undertake the project. The company is headed by Tengku Abdul Aziz Tengku Mahmud who was from Guthrie Property Development Holding Bhd and Sime Darby Property Bhd. He came on board early this year.

“We are now finalising the project design and concept, and may invite professionals, both local and foreign, to submit their ideas for the project.

“PNB’s existing headquarters, Menara PNB will be 30 years old by the time the new tower is completed. We are looking for strategic positioning for the future and will need new office space for the expanding PNB group of companies. The Warisan Merdeka tower will become the new PNB headquarters while Menara PNB will be upgraded and leased out for recurring income,” Hamad added.

He said PNB had the capability to finance the project through internally generated funds but he did not discount resorting to borrowings “if the interest rates are attractive.”

On the rationale for PNB’s decision to undertake the project, Hamad explained: “We have been planning to develop the land since 2004 after acquiring it in 2000. After holding the land for so long, we decided it is now the right time to move ahead with the project. As an investment house, our intention is to optimise returns from the development.”

He said the project was expected to yield reasonable returns of between 8% and 10%.

“For the past few years, we have revisited the plan every year. Now with Tengku Abdul Aziz helming PNB Merdeka Ventures, we are more focused on the project and are ready to move ahead with it. The Government is also promoting this type of development.”

PNB paid RM310mil or RM220 per sq ft to buy the 36-acre land from Pengurusan Danaharta Nasional Bhd in 2000. Hamad said the market value of the land was estimated at RM800 per sq ft today.

Of the 36 acres, around 17 acres are occupied by Stadium Merdeka and Stadium Negara, which have been identified as a national heritage site. Conservation works have been undertaken to restore their heritage characteristics and the two stadiums are now being managed by the National Heritage Trust.

The overall Warisan Merdeka development on 19 acres would have to complement and blend with the heritage theme, and together with the restored stadiums, the site was set to be another major landmark in Kuala Lumpur, he said.

Hamad said although the project was scheduled to take 10 years, it may be expedited if market conditions warranted it.

“As a long-term player, we would prefer to own the Warisan Merdeka property and leased it out for recurring profit but we may also consider unlocking the value if the situation warrants it.”

He said PNB had been expanding its portfolio of property assets from mainly investing in equities previously. It had been purchasing commercial properties that offered competitive returns and potential for capital appreciation at reasonable prices.

Today, its property portfolio includes Menara PNB, PNB Darby Park, Kenanga International Building, Bangunan MAS in Kuala Lumpur, Hotel Perdana in Kota Baru and PNB Ilham Resort in Port Dickson. Its first offshore property, Santos Place in Brisbane, Australia, a six-star Green Star building, was acquired in August for A$287mil.

Hamad said PNB was also active in property development through its strategic holdings in a number of companies, including the merged entity of Island & Peninsular Bhd, Petaling Garden Bhd and Pelangi Bhd.

By The Star

100-storey tower to be PNB new HQ

The tower forms part of Warisan Merdeka, which will be PNB's single biggest property project to date and its construction to create some 5,000 jobs.

The 100-storey tower that forms part of Warisan Merdeka will be the new headquarters of Permodalan Nasional Bhd (PNB) as the fund manager is already thinking about redeveloping its existing head office.

Come 2016, its main building on Jalan Tun Razak, Kuala Lumpur, will be 30 years old. It is already fully occupied by PNB and its companies.



"We have to ensure we have occupancy. We need to move to this place. It will be mainly used by us and our investee companies," group chief executive officer Tan Sri Hamad Kama Piah Che Othman said at a briefing in Kuala Lumpur yesterday.

Warisan Merdeka, a 10-year mixed-development project estimated to cost RM5 billion, will be PNB's single biggest property project to date. Its construction is set to create some 5,000 jobs.

The tower alone, of about 525 metres, makes up half of the cost. The project will be done by PNB's wholly-owned PNB Merdeka Ventures Sdn Bhd, but it is open to having partners.

It may also sell part of the 14.6ha site, but this has yet to be finalised as it also wants to have recurring income from the properties.

"We must make sure returns prevail," Hamad Kama Piah said, adding that 8-10 per cent a year would be a good rate.

More importantly, Warisan Merdeka will boost the prices of residential, office and retail properties in the Golden Triangle, especially the Jalan Hang Tuah area, Pudu and Imbi, said Zerin Properties founder and chief executive officer Previn Singhe.

Property valuers said property prices shot up when the Petronas Twin Towers was built in 1985. Some foresee Warisan Merdeka to be the next KLCC.

"We need to look at the project very objectively. New York had five tallest towers in the world at any one time and they are all doing well," Previn said.

The land price in the Golden Triangle area is currently around RM2,000 per sq ft, while the net lettable area of a top office building is about RM800 per sq ft.

But valuers who were not so bullish said the key challenge is how to deal with traffic flow.

"You must look at the project site. It is very dense and road access and public transportation is limited. If the government can improve that, then we will have a different price outlook," said a valuer who declined to be named.

This was acknowledged by Hamad Kama Piah, who stressed that PNB has consultants working on the traffic issue. The cost of improving infrastructure in the area has also been factored into the overall RM5 billion cost, he explained.

By Business Times

SP Setia launches green hub in Shah Alam

SHAH ALAM: SP Setia Bhd's newly launched first integrated green commercial hub in Shah Alam, Setia City, will have a gross development value (GDV) of RM5 billion once completed within the next 10 to 15 years.

President and Chief Executive Officer of SP Setia Bhd, Tan Sri Liew Kee Sin said the 240-acre integrated freehold mixed development, will set a new benchmark where green development is concerned within the Shah Alam skyline.

"It will comprise office towers, hotels, service apartments and a retail mall with all the elements of the concept of live, learn, work and play," he said during the official launch of Setia City today.

"With the confirmation of the building of three Grade A corporate headquarters for SP Setia, Top Glove Corporation and Khind Holdings Bhd, Setia City is now ready to be launched as the first integrated green commercial hub serving the Greater Klang Valley," he added.

He also indicated there are also plans to bring in private universities.

According to Liew, the commercial hub will be one of the largest master-planned city centres in the Klang Valley and carry the SP Setia stamp of lush tropical landscapes featuring parks and gardens, as well as lakes and waterways.

"Setia City will also be the first integrated project to have all the buildings certified under the Green Building Index," he highlighted.

Setia City, he said, has managed to attract international and renowned property player, Lend Lease, headquartered in Australia to jointly invest in the development of a retail centre to be known as Setia City Mall.

"The new mall will form the focal point of Setia City. "The confidence the market has in Setia City Mall has led to the signing of major anchor retailer, Parkson, as well as leading cinema operator Golden Screen Cinemas.

"In addition numerous other specialty retailers have been secured," Liew said.

When complete, the mall he said, will offer a fun and affordable family experience comprising amazing green space, fantastic shops, great food and entertainment.

By Bernama

Najib: Tower to benefit all

The 100-storey building will not be a waste and will bring great economic benefits to both Bumiputeras and non-Bumiputeras, says Prime Minister Datuk Seri Najib Razak

Prime Minister Datuk Seri Najib Razak says the proposed Warisan Merdeka project will be a boon to all Malaysians.

"The 100-storey building will be the latest landmark in Kuala Lumpur and will bring great economic benefits to both Bumiputeras and non-Bumiputeras," he said.

"It will not be a waste," he said when asked to comment on charges by some quarters that the tower project, announced during the tabling of the 2011 Budget, would be a waste of public funds.

Speaking to reporters after briefing the 2,500-odd delegates attending the 61st Umno general assembly in Kuala Lumpur yesterday, Najib said the tower, which would be the country's tallest, surpassing the Petronas Twin Towers by 22 floors, was proposed by Permodalan Nasional Bhd (PNB), which felt strongly that it would bring great benefits.

"The tower idea did not come from me, but was proposed by PNB's board of directors which felt it was viable. I did not direct PNB on the matter."

Najib said the tower would be a symbol of a modern and developed Malaysia in addition to creating many economic spin-offs.

It would also be a major commercial hub for both Bumiputeras and non-Bumiputeras.

On his critics, Najib said it was expected.

"When Tun Dr Mahathir Mohamad proposed the Penang Bridge, many criticised him. He was also attacked when he proposed the Petronas Twin Towers. In the case of the bridge, the people of Penang now want a second bridge," he said.

By Business Times

Mixed reaction to PNB's tower plan

Pemodalan Nasional Bhd plans to build a 100-storey tower which is due to be completed in 2015; the Petronas Twin Towers is 88-storey high.

Pemodalan Nasional Bhd's plan to build Malaysia's tallest tower on a 7.2ha area in the vicinity of Stadium Merdeka and Stadium Negara was met with mixed reaction from property experts.

Prime Minister Datuk Seri Najib Razak yesterday announced in his budget speech of PNB's plans to spend RM5 billion on an integrated development by 2020.

The development includes a 100-storey tower which is due to be completed in 2015. The Petronas Twin Towers is 88-storey high.

One property consultant, who declined to be named, said the developer of the tower will have to be very resourceful in order to secure tenants for the space. It is understood that the tower alone will have 3.5 million square feet of space.

He also said that the RM5 billion price tag justified the amount of infrastructure work that would have to go into the development of the area, which includes roads and tunnels.

Zerin Properties chief executive officer Previndran Singhe, as a proponent of iconic structures, is all for the project.

"I've always maintained that an iconic structure doesn't have to be a tall one, but we need iconic structures to give the country a sense of identity.

"Just like how when you think Paris, you think Eiffel Tower," he said.

Previndran said with the government's various initiatives like Kuala Lumpur International Financial District and announcement of three brokerage licences, there was a high probability that there would be a need for the space come 2015.

"Also, we don't know what the composition would be like. It could be 80 per cent office space and 20 per cent hotel space, it's all subject to demand and supply," he said.

A 100-storey building on average would cost 50 per cent more per square foot than a normal high-rise building, depending on the actual design.

By Business Times

Menara Binjai receives provisional BCA Green Mark Gold Award

Menara Binjai, a 35-storey state-of-the-art green office tower

Menara Binjai, a 35-storey state-of-theart green office tower being built in the heart of KL’s Golden Triangle, has been awarded Singapore’s Provisional Building and Construction Authority (“BCA”) Green Mark Gold Certification.

Menara Binjai is also awaiting the final approval for its certification from Malaysia’s Green Building Index (“GBI”). With these dual green certifications, Menara Binjai will be the first dedicated office tower in Malaysia to be awarded both awards.

“We are delighted that Menara Binjai has been awarded BCA Green Mark Gold status. Right from the start, the company decided that the design and features incorporated into the tower would use cutting-edge Green technology to reduce the environmental impact wherever possible,” said Chua Guan-Hock, one of the six directors of the developer, Khor Joo Saik Sdn. Bhd. Located next to the Ampang Park LRT Station, Menara Binjai is a stone’s throw from the Petronas Twin Towers and KLCC, and is easily accessible from all major highways.


The roof garden of Menara Binjai

“We are very fortunate to have a unique location at the intersections of three major roads which are Jalan Ampang, Jalan Binjai and Jalan Tun Razak. All key highways, MEX, DUKE, and AKLEH are easily accessible. Tenants and visitors have a variety of transportation options whether by car, or public transport such as the LRT, buses, and taxis,” commented Chua on Menara Binjai’s location.

Designed by Veritas Architects, with Ranhill Consulting as mechanical and electrical engineering and green consultant, the tower complies with stringent environmental regulations. The energy-efficient operations allow up to 25% savings on electricity and air-conditioning consumption.

“We are also bringing nature to every three floors of Menara Binjai. Every third floor will have access to a unique triple volume garden terrace with lush greenery. This is a first for office towers in the country. There is also a Sky Garden on the 32nd floor where an unobstructed view of the Kuala Lumpur cityscape awaits. We spend most of our time in the office, and we want to ensure our occupants are comfortable and enjoy coming to work every day,” added Chua.

The exclusive leasing agent for Menara Binjai is Jones Lang Wootton. Menara Binjai is targeted for completion in Q4 2011. The property manager is CB Richard Ellis, a leading international property manager. For more information, please visit www.menarabinjai.com

By The Star