Qatari Diar Real Estate Company has announced the completion of the infrastructure and parking phase of the QR5.6bn Citi Tower project in the heart of Malaysia’s capital Kuala Lumpur.
The announcement was made after the visit to the project by a high-level Qatari Diar delegation led by CEO Abdullah bin Hamad al-Attiyah. During the visit, the delegation met with Ahmad Nizam Salleh, chairman, Malaysian oil company Petronas (Petroliam Nasional Berhad), which is the strategic partner of the project, in the presence of Qatar’s ambassador to Malaysia Fahad Mohamed Kafood.
The visit was aimed at following up on the progress of Citi Tower project, one of Qatari Diar’s important projects, that is implemented in partnership with Petronas. The project is a mixed-use commercial hub adjacent to the iconic Petronas Towers comprising high-rise office tower with retail facilities and a 5-star hotel. The project comprises two towers including office, hotel, retail podium, and an underground car park.
“The expertly planned Citi Tower is a purpose-built, fully-integrated inner-city development featuring quality and intelligent buildings, state-of-the-art amenities and the finest communication facilities,” a statement said.
The Citi Tower Precinct is designed to be another iconic landmark enhancing Kuala Lumpur’s skyline.
The hub comprises a 56-story hotel, a 77-story office tower, a 6-story retail podium, and multi-level basement parking. Qatari Diar Real Estate Company was established in 2005 by the Qatar Investment Authority.
It was entrusted with supporting Qatar’s growing economy and to co-ordinate the country’s real estate development priorities. The company’s flagship project, Lusail City, was launched in December 2005 and quickly went on to gain tremendous praise for its innovative approach to real estate.
Qatari Diar has a shared capital of $8bn with 60 investment projects under development or held in 24 countries around the world, combining a value of over $35bn.