Several existing buildings as well as a new office tower will form The Intermark mixed-use complex in downtown Kuala Lumpur. Empire Tower, City Square, the Crown Princess Hotel and Plaza Ampang are being renovated by investor and developer MGPA. Additionally, the group plans to construct a new a new office tower that will have at least 30 floors of grade A office space in the midst of the current buildings.
Michael Wilkinson, CEO of MGPA Asia Developments sees this as a good time to invest in Malaysia, as it is the strongest market in Southeast Asia. “I think it is probably a good time to be investing in Malaysia. In my view, it is a cyclical downturn. The assets that we are bringing in this market are long-term assets. The assets we are building here are for the long-term and of quality,” he said.
The redevelopment plans include a complete renovation and refurbishment of the 62-floor Empire Tower and renaming it Vista Tower. City Square will become Intermark Mall and the Crown Princess Hotel will become a Doubletree by Hilton Hotel. The location of The Intermark is just 500 meters from the Petronas Towers and a few minutes from the Ampang Park LRT.
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