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Gapurna and MRCB in JV project

Posted on: May 30, 2009

Bernama – Thursday, May 28

KUALA LUMPUR, May 28 (Bernama)– Gapurna Sdn Bhd and Malaysian Resources Corporation Bhd have entered into a joint venture to develop a commercial and residential building. The project, the 348 Sentral, in Kuala Lumpur Central has a total development value of RM1 billion, said MRCB group managing director Shahril Ridza Ridzuan today. The shareholding in the joint venture company, GSB Sentral Sdn Bhd, will be held by Gapurna and MRCB on 6O:40 basis, he highlighted. GSB Sentral has also agreed to lease part of the building to Shell Malaysia for its regional office for a period of 15 years, he told reporters at the ground breaking and agreement to build and lease signing ceremony with Shell here today.

The project was officiated by the Minister of Rural and Regional Development Datuk Seri Mohd Shafie Apdal. Also present was the Deputy Minister of International Trade and Industry Datuk Mukhriz Tun Dr Mahathir.

Preliminary work on the project, on a 2.09-acre plot at the intersection of Jalan Tun Sambathan and Jalan Travers started this month and is expected to be completed next year, said Shahril.

He said the financing of the project is through internal funding as well as external borrowing.

348 Sentral will comprise a 33-storey office tower and 21-storey serviced residence tower, sitting on a five-storey podium and a four-storey basement.

Gapurna chairman Tan Sri Abdul Halim Ali said the project would possibly be Malaysia’s first integrated commercial development under the Leadership in Energy and Environmental Design with gold standard certification.

“The project will also adopt our very own Malaysian standards of green buildings which are under the Green Building Initiatives,” he said. — BERNAMA



1 Response to "Gapurna and MRCB in JV project"

They’re aiming for Platinum LEED status now. Woohoo for green buildings!

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