PNB to build 100-storey skyscraper in KL by 2015

KUALA LUMPUR, Oct 15 — Permodalan Nasional Berhad (PNB) will build Malaysia’s tallest building near the historic Merdeka Stadium at a cost of about RM5 billion with completion expected in 2015, it was announced today.

No height was mentioned for the 100-storey 'supertall' building but there is virtually no chance the new skyscraper will surpass the current world’s tallest building — the 160-storey Burj Khalifa, which stands at 828m tall.

It could, however, be runner-up as the world’s second tallest building, Taipei 101, has 101 stories and has a height of 509m.

The 88-storey Petronas Twin Towers, at 452 meters, was the world’s tallest when it was completed in 1998.

The development, called Warisan Merdeka, will be sited on 7.2-ha of PNB-owned land near the stadium where Malaysia’s independence was declared in 1957.

The project will retain Stadium Merdeka and Stadium Negara as heritage buildings.

“We take pride in our national icon, the Petronas Twin Towers. It signifies the spirit of ‘Malaysia Boleh’. Another landmark to be developed by PNB is Warisan Merdeka,” said Prime Minister Datuk Seri Najib Razak during the tabling of the 2011 Budget in Parliament today.

Mention of the project first surfaced last year, when PNB said that it planned to develop the Stadium Merdeka land into posh residential areas and business plazas at a gross development value of RM3 billion.

Its president and group chief executive officer, Tan Sri Hamad Kama Piah Che Othman, said it would be a mixed development that would add value to the surrounding areas.

There are concerns, however, that Kuala Lumpur could suffer a commercial property glut as a result of numerous ambitious real estate development plans, such as the RM26 billion KL Financial District, the 161-ha Sungai Besi Airport, and the 25.2-ha Matrade world trade centre in Jalan Duta.
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