Bloomberg News

Naza in Talks With Investors for 15 Bln-Ringgit Property Project

October 24, 2011

Oct. 25 (Bloomberg) -- Naza Group, Malaysia’s biggest luxury vehicle importer, is seeking to draw local and foreign investors for a proposed 15 billion-ringgit property project in Kuala Lumpur.

Naza is in talks with local and international investors who are “serious” in taking part in the project, which may include a 100-floor tower, Naza Group Joint Executive Chairman SM Nasarudin SM Nasimuddin told reporters in Kuala Lumpur today.

Naza won land rights in 2009 from the government in return for building an exhibition center. The company will develop the land in three phases over 15 years, it said in a statement.

To contact the reporter on this story: Gan Yen Kuan in Kuala Lumpur at ykgan@bloomberg.net

To contact the editor responsible for this story: Chan Tien Hin at thchan@bloomberg.net


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