Naza seeks investors for RM15b project

Naza Group, Malaysia’s biggest luxury vehicle importer, is seeking to draw local and foreign investors for a proposed RM15 billion property project in Kuala Lumpur.

Naza is in talks with local and international investors who are “serious” in taking part in the project, which may include a 100-floor tower, Naza Group Joint Executive Chairman SM Nasarudin SM Nasimuddin told reporters in Kuala Lumpur today.

Naza won land rights in 2009 from the government in return for building an exhibition center. The company will develop the land in three phases over 15 years, it said in a statement.

By Bloomberg