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Malaysian Property Market Update and an Introduction to Merdeka 118 Tower, KL

7 Oct 2020

The iconic Merdeka 118 Tower was proudly introduced in our webinar last week held in collaboration with Rahim & Co and PNB Merdeka Ventures. Tengku Dato’ Ab. Aziz bin Tengku Mahmud, CEO of PNB Merdeka Ventures Sdn Bhd opened the session with a quick overview about the Tower, the inspiration behind it as well as sharing interesting similarities between Merdeka 118 and the Battersea Power Station development in London.

James Goh, Head of Investments for Rahim & Co provided an elaborated overview on the 635-metre tall tower, set to be the second tallest building in the world and how it will be the new centre piece of a rapidly modernising Kuala Lumpur. The project boasts 3.1 million sq ft of mixed-use development including 1 million sq ft of Grade-A office space, an expansive retail mall, 3 surrounding residential towers and 4 acres of public park. Merdeka 118 will also be home to Southeast Asia’s highest observation deck and the Park Hyatt Hotel Kuala Lumpur, set to be completed by 2022 as the first building in Malaysia to satisfy the triple green platinum certification.

The session was followed by the Malaysian property market update by Siva Shanker, CEO of Real Estate Agency, Rahim & Co International Sdn Bhd. Among the key takeaways from his presentation included the total volume and value of property transactions, the retail space supply and occupancy as of 2019, and the impact Covid-19 has had on the local property market along with necessary approaches taken to mitigate them.

Jennifer Lopez, BMCC Executive Director, hosted the webinar and moderated the Q&A session. The BMCC thanks Rahim & Co and PNB Merdeka Ventures for this partnership to organise this insightful webinar.

Watch the webinar replay here:

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