The project works with an estimated value of RM280mil would include the development of one block 177-unit luxury condominium in Jalan Stonor, Kuala Lumpur, director Ahmad Lazri Long said.
“BUCG was selected based on its world-class expertise as the company was the lead contractor on the main stadium for the 2008 Beijing Olympics,” he told a recent media briefing.
Pearl KLCC covers 1.77-acre freehold land with units available ranging from 3,000 to 20,000 sq ft, with each floor having six units and private lift lobby and view of the KLCC and the Petronas Twin Tower.
The contract signing was witnessed by Datuk K. Salman Younis, managing director Kuwait Finance House (M) Bhd which acts as a financier of the project through a special-purpose vehicle company, Flora Bliss Development Sdn Bhd.
Ahmad Lazri said Malton Bhd’s wholly-owned subsidiary Domain Resources Sdn Bhd had been appointed project development manager.
Domain Resources senior project director H.K. Tan said the project was expected to complete construction by the fourth quarter of 2010.
The project marked BUCG’s first venture into the Malaysian property market, said assistant president and senior engineer Andy Zhao said.
Besides Malaysia, the company also has a presence in Singapore, Thailand, Vietnam, the Middle East and South Africa.
By Bernama
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