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Thursday, July 23, 2009

Tabung Haji said to be buyer of Naza building

Tabung Haji is believed to be the buyer of a multi-storey tower in the heart of Kuala Lumpur that will be built by Naza TTDI Sdn Bhd.

A source said that Tabung Haji had purchased the 30-storey building, located at the RM4.1 billion integrated upmarket commercial and residential property project known as Platinum Park.

It would be the second property in the project that Naza TTDI has sold, after last year's RM640.7 million deal with plantation group Felda for a 50-storey tower.

"I don't know whether Tabung Haji will move its headquarters to the new building or whether it bought for investment purposes," the source told Business Times. Tabung Haji has declined to comment.

In an interview with Business Times recently, Naza TTDI group managing director SM Faliq SM Nasamuddin said that a 30-storey building had been sold to a government-linked company. He did not reveal the buyer.

"This tower together with two other towers is scheduled for completion within five years," the source said.

Naza Group of Companies joint executive chairman SM Nasarudin SM Nasimuddin, when met at a function in Kuala Lumpur yesterday, declined to reveal the buyer of the third tower at Platinum Park.

"It has already been sold, but I am not about to reveal who the buyer is," he said after witnessing the signing of an agreement between Naza Group and Well Spring Inc in Kuala Lumpur.

Naza has been given a master licence by the US-based company to operate "Tutti Frutti" frozen yogurt outlets in the country.

Work has started on the Felda building as well as the 50-storey building which will house Naza Group's headquarters.

Platinum Park, developed by Naza TTDI, is in the vicinity of the Petronas Twin Towers and the Suria KLCC shopping centre.

It is set to be the single largest luxury project undertaken by a Bumiputera company in the heart of Kuala Lumpur.

There will be seven buildings at Platinum Park.

Naza TTDI is the property arm of the Naza group. Founded by the late Tan Sri Nasimuddin SM Amin, the group was better known as a motoring company before it bought over TTDI from Danaharta in 2004.

By Business Times (by Kamarul Yunus)

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