KLCC Holdings Sdn Bhd will develop a new mixed-commercial project at the eastern corner of the Kuala Lumpur City Centre with a gross development value (GDV) of over RM5 billion.
According to group chief executive officer Hashim Wahir, the new development is part of the company's master plan for the iconic mall.
It will be undertaken by the company in a 50:50 joint venture with the Qatari Investment Authority via QD Asia Pacific Ltd, a subsidiary of Qatari Diar Real Estate Investment Co, the investment arm of Qatari Investment Authority.
The construction, which started yesterday, is expected to be completed by end of 2017.
The project will be developed on a 1.6ha between Suria KLCC and the Asy-Syakirin mosque, facing the KLCC park.
The mixed commercial development consists of a 76-storey hotel, comprising serviced apartments, residences and associated facilities; 64-storey office units; six-storey retail podium; and basement car park.
The architecture of the new building will be based on a contemporary design by Cesar Pelli, the architect of the Petronas Twin Towers.
Hashim said the development will include pedestrian connectivity to the surrounding areas with major gateways and public spaces.
"The parking area will be connected to the existing underground link at Suria KLCC," he told reporters after the groundbreaking here yesterday.
On another development, Hashim said the Asy-Syakirin mosque will also undergo an extension work to accommodate the growing congregation.
He said the construction is expected to start in June this year and completion is scheduled for September 2016.
"With this extension, the Asy-Syakirin mosque, when completed, will be able to accommodate an additional congregation of 7,000," he added.
The extension work involves additional praying area at the main area and concourse level of 1,850 sq metres and 4,800 sq metres respectively.
Credits to SCC Forum.
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