Ayisy YusofTuesday, May 3, 2016
MULIA Group, the developer of the RM3.5 billion gross development value (GDV) Signature Tower, expects construction of the structure in Tun Razak Exchange (TRX) to be completed by mid-2018.
Mulia Property Development Sdn Bhd CEO Datuk WH Lai said the tower which would become TRX development’s focal point, is expected to be the world’s 15th-tallest building at 1,440ft (438.9m).
“Our blueprint is to complement other iconic towers in Malaysia, giving a fresher and contemporary look. The signature tower will fulfil TRX’s potential in developing the city as Malaysia’s international financial district,” Lai said at TRX Gallery in Kuala Lumpur on Saturday.
The 92-storey tower will have a gross floor area of four million sq ft and a net lettable area of 2.65 million sq ft. It will also have six levels of basement.
“The crown comprises a special type of glass, extremely low iron glass which will give a certain degree of reflection, and it will look like glistening crystal at the top of the building,” said Lai.
Mulia Group, Indonesia’s leading commercial property developer, acquired the land for RM665 million in the second-quarter last year from TRX City Sdn Bhd (formerly known as 1MDB Real Estate Sdn Bhd).
Lai said the company is putting all its resources to fast-track the development of Signature Tower and prevent the firm from additional financial cost.
“The construction of the tower is geared towards a fast-tracking environment. Our investment depends on the rapid completion of the tower. To do so, we are able to integrate and consolidate all our in-house expertise throughout the construction.
“If you prolong the construction period, you would increase the financing cost. That is why we want to fast-track it to catch the momentum and get the tenancy inside,” Lai said.
On the potential tenancy opportunity, he said the building’s design is suitable for big corporation as they can take advantage of the free large floor plate for their business efficiency.
“We benchmark ourselves to build for a certain niche. We provide large floor areas for luxury office space. We have the ability to provide tenancy with uninterruptible offices environment.
“Although it may not be an easy task, we are prepared for the challenge. We expect to have occupancy of at least half-floor space between 17,000 sq ft and 20,000 sq ft for each level,” Lai said.
Asked on any future projects, the company said it would consider opportunity everywhere but it is mindful of the current market situation.
“It depends on the feasibility of the project and the location. Presently, we are open to all opportunities but we can assure that our group is not here for a single project.
“We are here for the long run. We hope to be able to bring our way of developing to Malaysia,” Lai said.
Meanwhile, project director Roland A Suckling said the Signature Tower would be TRX’s main attraction due to its construction ingenuity.
“In Mulia Group, our team is very experienced and works in a complete life cycle. We are the owner, the developer and we are the architects with our own in-house teams that control the whole process from design to construction,” he said.
At the event, concrete was poured onto a 20,200 cu m mat foundation or an equivalent of eight Olympic swimming pools.
“The concrete pouring would take about 48 hours over the weekend and once it hardened, it will weigh about 50 million kg,” Suckling said.
He reiterated the concrete pouring to be among the largest recorded globally as it involved 8.5 million kg of cement; 16 million kg of sand and 19 million of construction aggregates. Two million kg of ice were also used to overcome the extreme heat generated during the process.
With an estimated RM40 billion GDV, TRX development which sits on a 70-acre site, is set to become the new regional financial hub and Kuala Lumpur International Financial District.
Source from Malaysian Reserve : http://themalaysianreserve.com/new/story/mulia-speed-signature-tower-project