13 February 2009 - One of Kuala Lumpur’s famous landmarks on Jalan Tun Razak is to be transformed into a world class, integrated mixed-use precinct including a new environmentally sustainable office tower.

MGPA’s Asia Fund II acquired the Empire Tower, City Square, the Crown Princess Hotel and Plaza Ampang in 2007.

MGPA will be investing RM2billion (includes acquisition and construction costs) towards the redevelopment of these properties and their integration with a brand new office tower.

To be known as “The Intermark”, this world class precinct sits just 500 metres from Petronas Twin Towers, and is a two-minute walk to Ampang Park LRT. The development will involve the complete refurbishment of a 62-storey office building to be known as Vista Tower, a retail centre to be called Intermark Mall, and Malaysia’s first Doubletree by Hilton Hotel.

Also, the new office tower Integra Tower, at least 30 storeys high, will offer high quality international grade A space with a large floor plate.

The name Intermark is derived from the phrase “Integrated Landmark”, which also refers to the international quality of the project and the inter-related components that make up this unique mixed-use development. 

MGPA Asia Developments Chief Executive Officer, Michael Wilkinson says “The Intermark will redefine what occupants can expect from a working environment and will appeal to multinationals and the energy sector. The precinct enjoys excellent connectivity to the city, and a seamless combination of high quality retail, commercial and hospitality spaces”.

The Intermark is designed by world renowned architectural firm, Aedas. The second largest practice in the world, Aedas is well known for its master planning and cutting edge mixed commercial designs. Mr Kevin Jose, Executive Principal of Aedas says, “The Intermark is one of the most prominent sites in the Kuala Lumpur city centre. We are confident that, working with MGPA, we can deliver a truly world class mixed use development that will bring a new level of business synergies and vibrancy to the corporate environment.”

The first component of the re-development, Vista Tower, is a grade A office building featuring a new grand double-height lobby, high speed destination controlled lifts and high security access control. Vista Tower is now available for lease with rental rates ranging from RM7.00 to RM9.00 per square foot per month and a marketing suite has been launched on level 46.

About MGPA

MGPA is an independently managed private equity real estate investment advisor company focused on real estate investment in Europe and Asia.  Through its headquarters in Bermuda and network of offices throughout Europe and Asia, MGPA currently manages US$10.4 billion in assets throughout these two regions. Its managed investments include development and redevelopment projects, joint-ventures and real estate operating companies in the office, retail, industrial, residential and hotel sectors. For more information about MGPA please visit www.mgpa.com.