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Wednesday, January 23, 2008

Felda signs agreement to buy office tower from TTDI

From left: Datuk Seri Najib Tun Razak, Tan Sri SM Nasimuddin SM Amin, Tan Sri Mohd Yusof Noor and Datuk Wira Abu Seman Yusop

KUALA LUMPUR: Federal Land Development Authority (Felda) yesterday signed a sales and purchase agreement with TTDI Development Sdn Bhd for the purchase of a 50-storey office tower for RM640.77mil.

The office tower to be called Menara Felda is the tallest of seven towers in TTDI Development’s RM3.5bil Platinum Park, in Kuala Lumpur City Centre (KLCC). Construction will start this year and is scheduled for completion in four years.

Deputy Prime Minister Datuk Seri Najib Tun Razak, who performed the groundbreaking ceremony for Platinum Park, also witnessed the signing between Felda and TTDI Development, a member of the Naza group.

Also present were Felda chairman Tan Sri Dr Mohd Yusof Noor, TTDI Development chairman Tan Sri SM Nasimuddin SM Amin and Deputy Federal Territories Minister Datuk Wira Abu Seman Yusop.

“The decision to build Menara Felda in the city centre is to promote Felda as an iconic organisation in line with its success all this while.

Menara Felda, to be located along the same row as five-star hotels and near the Petronas Twin Towers, has the potential to raise Felda's image and in tandem with this, Felda settlers must change their mindset to take the organisation to greater heights,” Najib said after the groundbreaking and signing ceremony.

He said more than 50 years ago, Felda provided a source of livelihood for the people by opening up land but now it was getting modern and needs to generate wealth at the international level.

“We could have built Menara Felda at another place, even next to its head office in Jalan Gurney, but then Felda would not be in the limelight. Strategic thinking prompted us to locate the tower here,” Najib said.

By The Star

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