Kuala Lumpur- The Minister of the Federal Territories, Y.B. Datuk Seri Utama Tengku Adnan Tengku Mansor officiated the groundbreaking ceremony of Latitud8, a transit oriented development located at Dang Wangi LRT Station.
The groundbreaking ceremony was held at Latitud8’ Sales Gallery located on Jalan Ampang where the event was graced by: –
1. Datuk Bandar Kuala Lumpur, YBhg Datuk Seri Hj Mhd Amin Nordin bin Abd Aziz
2. Chairman of Prasarana Malaysia Berhad, YBhg Tan Sri Ismail bin Adam
3. President & Group CEO of Prasarana Malaysia Berhad, YBhg Dato’ Azmi Abdul Aziz bin Abdul Aziz
4. Group Managing Director of Crest Builder Holdings Berhad, Mr. Eric Yong Shang Ming
5. Chairman of Intan Sekitar Sdn Bhd, Sri Rahayu binti Dato’ Sri Tajuddin
Latitud8 is a joint land development between Crest Builder Holdings Berhad (CBHB) 51% owned subsidiary Intan Sekitar Sdn Bhd (ISSB) and Prasarana Malaysia Berhad (Prasarana) for the development of a parcel of prime commercial land located at Dang Wangi LRT station measuring approximately 2.72 acres. This development project is the first Transit Oriented Development (TOD) in Malaysia for Prasarana designed and to be constructed directly above an active and operating LRT station
ISSB is a 51:49 joint venture holding between CBHB’ wholly-owned subsidiary Crest Builder International Sdn Bhd (51%) and Detik Utuh Sdn Bhd (49%).
Latitud8 a mix commercial development bearing a total gross development value (GDV) of RM1.10 billion, will feature a lifestyle retail podium with business and convention facilities, open office spaces, SOFO (small office flexible office) suites, SOHO (small office home office) residences and duplexes as well as a rooftop lounge and bar.
“In an age where advancing technology and lifestyle demands are constantly changing, I believe that transit oriented development plays a vital role in maximizing the impact of transit investments, increasing regional competitiveness and advancing economic developments. The development of Latitud8 is an effort to enrich Dang Wangi LRT Station’s connectivity and to create a vertical city in meeting the blooming modern lifestyle demands in the heart of Kuala Lumpur. Latitud8 will be a catalyst to expand and compliment the existing hub to becoming a vibrant commercial community.” -Mr. Eric Yong, Group Managing Director of Crest Builder Holdings Berhad.
Latitud8 is scheduled to be launched in the second half of 2016 with targeted completion by the end of 2019.
“Prasarana is pleased to work with Intan Sekitar Sdn Bhd and any committed partners in optimizing the usage of lands assigned to us in promoting the Transit Oriented Development (TOD) concept, which promises a new way of city living by creating vibrant and liveable communities, centered on public transport. Through TODs, Prasarana aspires to create a new lifestyle for healthy and productive Malaysians by eliminating the stress of traveling in congested roads and highways. Commuters need not leave the rail network and everything is provided within the TOD and the rail network, which is the backbone of the public transport system.
“In championing the TOD concept, PRIDE will lead in the transformation of all underutilized lands along the LRT corridor that have potential to be developed and secure support from all the stakeholders, government agencies, municipal councils as well as state authorities.”-Tan Sri Ismail Adam, Chairman of Prasarana Malaysia Berhad.
“Intan Sekitar Sdn Bhd is honoured to be the first Bumiputra Company to partner with Prasarana to develop the first LRT TOD in the country. In line with the Economic Transformation Programme to realize the Greater KL and Klang Valley aspirations for TODs, Latitud8 is designed with a policy to “Build an Environment that Enhances Quality of Life”. An efficient and sustainable urban development, Latitud8 is an integrated and efficient urban transportation system and the creation of a conducive and liveable urban environment with an identity. A first public private partnership project for the development of TODs, ISSB is geared to meet the government’s target for Kuala Lumpur to be the world’s top 20 liveable cities by 2020 with major initiatives planned towards transforming Greater KL into a world-class city. Together with Prasarana and with the support from government agencies in particular DBKL, ISSB shall ensure that Latitud8 becomes the nation’s economic engine besides realizing the vision to transform Kuala Lumpur into an international standard landmark city. “ said Chairman of Intan Sekitar Sdn Bhd, Puan Sri Rahayu binti Dato’ Sri Tajuddin
About Crest Builder Holdings Berhad
CBHB was incorporated in Malaysia under the Companies Act, 1965 on 9 March 2002 as a public limited company. CBHB is principally an investment holding company and had successfully undertaken a Corporate and Debt Restructuring Scheme which involved taking over the listing status of MGR Corporation Berhad. CBHB was listed on the Main Board of Bursa Malaysia on 12 June 2003.
The CBHB Group was founded in 1985 by the late Mr. Yong Soon Chow. What started out as a small business of less than 10 staff has grown to a strong corporation of over 500 staff. Over the past 25 years, the CBHB group has carved a strong foothold in the local construction industry. With an in-depth industry experience, the CBHB group has a proven track record in the sector – especially in the commercial, residential and institutional building construction. The Group counts top branded developers and international property players amongst its clientele.
With a good blend of experience and vibrant protégés in its management team, the CBHB group has moved along the supply chain and diversified beyond purely construction into other construction-related activities, such as property development, M&E services and project management – and most recently, upon completion of CBHB’s RM300million maiden development 3 Two Square, the Group has also diversified into property management as well as car park management.
With the vision to be the ‘Preferred’ organisation of choice by the partners and customers, the Group aspires to achieve distinction in the industry through prudent cost management, highest standards of quality and complete customer satisfaction.
For more information, please log on to http://www.crestbuilder.com.my/
About Prasarana Malaysia Berhad
Formerly known as Syarikat Prasarana Negara Berhad, Prasarana Malaysia Berhad or Prasarana, in short, takes after a new name in July, 2014 to reflect its current roles and business operations, including the initiative to become an active international player.
Established in 1998 and operational since 2002, Prasarana is the asset owner and operator of the country’s two LRT networks and the KL Monorail; in addition to the bus services of RapidKL, RapidPenang and RapidKuantan.
Beyond the efforts to transform the country’s public transport services via Rapid Rail Sdn Bhd and Rapid Bus Sdn Bhd, Prasarana has also established Prasarana Integrated Management and Engineering Services Sdn Bhd (PRIME) to provide management and engineering consultancy services, Prasarana Integrated Development Sdn Bhd (PRIDE) to undertake commercial and transit-oriented development projects to further strengthen the performance of the company and Prasarana Rail and Infrastructure Projects Sdn Bhd (PRAISE) to focus on major public transport infrastructure projects assigned to the Group.
For more information, please log on to http://www.myrapid.com.my