PjH in land deal with TRW

PjH in land deal with TRW



By LEONG HUNG YEE

PUTRAJAYA: Putrajaya Holdings Sdn Bhd (PjH) is negotiating with TRW group on the latter's plan to acquire more commercial land in Putrajaya, said PjH chief executive officer Azlan Abdul Karim.

“We are now engaged in talks with TRW on its plan to acquire more land for commercial development.

“I hope this will be a win-win situation for both parties and provide a greater push towards the development of commercial properties in Putrajaya,” Azlan said at a sale and purchase agreement signing ceremony between PjH and TRW group yesterday.

PjH has entered into a SPA with TRW Boulevard Square Sdn Bhd to sell 6,160 sq m of land in Precint 3 for RM23.2mil.

TRW Boulevard is part of the TRW group, an international property investment and development group incorporated in Hong Kong.

Chairman Datuk Ishak Imam Abas signed for PjH while TRW Boulevard was represented by senior director Paul Ravelli. The signing was witnessed by Federal Territories Minister Datuk Zulhasnan Rafique.


Paul Ravelli (left) exchanging documents with Datuk Ishak Imam Abas. With them is Datuk Zulhasnan Rafique
Ravelli said the group planned to build on its newly acquired land two office towers – one eight-storey and the other with 13 or 15 storeys.

“We have yet to confirm how many storeys we want for the second officer tower but we have engaged consultants and started the designing process,” he said, adding that the buildings were scheduled for completion in two years.

Meanwhile, Azlan said PjH and TRW group were discussing a proposed co-operation to identify and secure more foreign direct investments (FDIs) to Putrajaya.

“The proposal includes a blueprint for FDIs in Putrajaya and an international investment campaign. The main thrust of the co-operation is to secure investors to invest in cutting-edge technology industries in Putrajaya,” he said.