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*Artist's impressions only
In the recently tabled 2012 Budget, the Government has proposed several incentives to accelerate the development of Kuala Lumpur International Financial District (KLIFD).
The package includes; an Income tax exemption of 100% for a period of 10 years and stamp duty exemption on loan and service agreements for KLIFD status companies, Industrial Building Allowance and Accelerated Capital Allowance for KLIFD Marquee Status Companies and Income tax exemption of 70% for a period of 5 years for property developers in KLIFD. These incentives are necessary sweeteners, a first step towards bringing the best talent and infrastructure to the financial district.
1MDB has selected Akitek Jururancang (Malaysia) Sdn Bhd and its international partner Machado Silvetti and Associates as the master planners for KLIFD.
The two companies represent the fusion of local and international talents that best translates 1MDB’s vision for the future financial district through their concept and rendering of the master plan.
AJM and MSA share a vision for a highly functioning, interesting, innovative, and aesthetically pleasing urban district that will establish KLIFD as a financial centre of choice.
The AJM-MSA partnership is committed to deliver a sustainable and modern KLIFD and implement the highest level of international design and progressive planning tenets, including industry-leading sustainability in buildings and infrastructure, a pedestrian-friendly green public realm, seamless links to public transportation, and guidelines for architecture of high international standards.
In late 2010, 1MDB organised a design competition for master planners, attracting some of the world’s best.
Eleven local and global companies covering various fields including sustainability, infrastructure engineering, landscape planning and traffic management were also recently appointed. The selection process, which adopted best global practices, included a pre-qualification and RFP process.
Given the scale of the development and its impact on national growth, 1MDB seeks not just capability and capacity but people who share its vision for a sustainable and holistic KLIFD and its passion to deliver a Greater KL.
Work for KLIFD is on schedule with construction work expected early 2012.