Friday, June 17, 2011

1MDB to turn Sungai Besi airport land into Bandar Malaysia

June 15, 2011
An aerial view of the Sungai Besi airport land. — pic
KUALA LUMPUR, June 15 — Government owned strategic developer 1Malaysia Development Berhad (1MDB) signed several agreements today to pave the way for the old Sungai Besi airport land to be transformed into Bandar Malaysia.
According to a statement by 1MDB, Bandar Malaysia will have several attractive elements to further strengthen Kuala Lumpur’s global competitiveness as cities compete to attract international investors and businesses.
Among the agreements, 1MDB, the master developer for Bandar Malaysia, signed sales and purchase agreements with the federal land commissioner to take over ownership of the Sungai Besi airport land, and also with the Negeri Sembilan state government to acquire land in Sendayan as the replacement site for the Royal Malaysian Air Force (RMAF) base.
Minister in the prime minister’s department Tan Sri Nor Mohamed Yakcop witnessed the signing at the Economic Planning Unit of the Prime Minister’s Department here.
Bandar Malaysia aims to promote liveability as a distinctive character of Greater Kuala Lumpur, said 1MDB.
The company added that Bandar Malaysia would be a mixed development filled with liveable spaces for work/life balance, such as open green spaces and a people’s avenue as well as higher learning institutions.
In 1956, Sungai Besi served as the nation’s first international airport before being turned into a base for RMAF.

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