The company has bought 0.4 hectare along Jalan Kia Peng, near the Petronas Twin Towers, from a land owner for an undisclosed amount.
MRCB chief executive officer Datuk Mohamed Razeek Hussain said on Wednesday in a statement that although it is leasehold land, it would be ideal for a residential development due to its prime location and scarcity of land within the Kuala Lumpur City Centre vicinity.
Mohamed Razeek said the company is now finalising the building design and layout plan.
The project, slated to be done in three years, will set a new benchmark in luxury development at the Jalan Kia Peng area along side other established residences, he added.
MRCB also plans to inject new ideas to ensure the project's success.
"With the injection of our concept, the residential development is expected to become yet another preferred residential address with an excellent choice of designs," Mohamed Razeek said.
MRCB, through its property arm MRCB Land, has more than RM5 billion worth of on-going property projects.
By Business Times
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