Kuala Lumpur International Financial District
Encyclopedia
The Kuala Lumpur International Financial District (KLIFD) is a proposed joint property development comprising office towers for finance and banking, residences and retail spaces between 1Malaysia Development Berhad
(1MDB) and the Mubadala Development Company
on a plot of land covering 34.4 hectares near Jalan Tun Razak, Kuala Lumpur
. Ownership of the land, known as Dataran Perdana, has been reportedly transferred from the Malaysian government to 1MDB.
On 21 May 2010, it was reported that invitations were sent out, presumably to a select group of VIPs and the media, to witness the groundbreaking ceremony on 29 May 2010, which was to be inaugurated by Prime Minister of Malaysia Datuk Seri Najib Tun Razak and General Sheikh Mohammed bin Zayed Al Nahyan
, the Crown Prince of Abu Dhabi
and Deputy Supreme Commander of the United Arab Emirates
(UAE) Armed Forces. However, the groundbreaking ceremony was called off and postponed indefinitely at the very last minute. No reason for the postponement was given.
The announcement of KLIFD came weeks after 1MDB reportedly signed a multi-billion ringgit development joint venture deal with Qatar Investment Authority
for the Sungai Besi
old airport site, dubbed the City of Malaysia. The site is currently the base for the Royal Malaysian Air Force.
In his speech on the 10th Malaysia Plan on 10 June 2010, Datuk Seri Najib Tun Razak said that the KLIFD and City of Malaysia are two of the many high-impact public-private partnership
(PPP) projects that will help to drive the economic transformation agenda.
The Pasar Rakyat MRT
Station, the Mass Rapid Transit
station located at Kuala Lumpur International Financial District (KLIFD) has been proposed, near Bulatan Pandan, Jalan Tun Razak, Kuala Lumpur
.
1Malaysia Development Berhad
1Malaysia Development Berhad is a strategic development company, wholly owned by the Government of Malaysia. 1MDB was established to drive strategic initiatives for long-term economic development for the country by forging global partnerships and promoting foreign direct investment.-History:1MDB...
(1MDB) and the Mubadala Development Company
Mubadala Development Company
Mubadala Development Company PJSC was established in October 2002 as a Public Joint Stock Company and is a wholly owned investment vehicle of the Government of Abu Dhabi, in the United Arab Emirates....
on a plot of land covering 34.4 hectares near Jalan Tun Razak, Kuala Lumpur
Kuala Lumpur
Kuala Lumpur is the capital and the second largest city in Malaysia by population. The city proper, making up an area of , has a population of 1.4 million as of 2010. Greater Kuala Lumpur, also known as the Klang Valley, is an urban agglomeration of 7.2 million...
. Ownership of the land, known as Dataran Perdana, has been reportedly transferred from the Malaysian government to 1MDB.
On 21 May 2010, it was reported that invitations were sent out, presumably to a select group of VIPs and the media, to witness the groundbreaking ceremony on 29 May 2010, which was to be inaugurated by Prime Minister of Malaysia Datuk Seri Najib Tun Razak and General Sheikh Mohammed bin Zayed Al Nahyan
Mohammed bin Zayed Al Nahyan
Mohammed bin Zayed bin Sultan Al Nahyan is the Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces .-Political and business career:...
, the Crown Prince of Abu Dhabi
Abu Dhabi
Abu Dhabi , literally Father of Gazelle, is the capital and the second largest city of the United Arab Emirates in terms of population and the largest of the seven member emirates of the United Arab Emirates. Abu Dhabi lies on a T-shaped island jutting into the Persian Gulf from the central western...
and Deputy Supreme Commander of the United Arab Emirates
United Arab Emirates
The United Arab Emirates, abbreviated as the UAE, or shortened to "the Emirates", is a state situated in the southeast of the Arabian Peninsula in Western Asia on the Persian Gulf, bordering Oman, and Saudi Arabia, and sharing sea borders with Iraq, Kuwait, Bahrain, Qatar, and Iran.The UAE is a...
(UAE) Armed Forces. However, the groundbreaking ceremony was called off and postponed indefinitely at the very last minute. No reason for the postponement was given.
The announcement of KLIFD came weeks after 1MDB reportedly signed a multi-billion ringgit development joint venture deal with Qatar Investment Authority
Qatar Investment Authority
The Qatar Investment Authority is Qatar's sovereign wealth fund, specializing in domestic and foreign investment. It was founded in 2005 to manage the oil and natural gas surpluses by the Government of Qatar...
for the Sungai Besi
Sungai Besi
Sungai Besi is a township in the Federal Territory of Kuala Lumpur. The deepest tin mine in Malaysia is located here. Sungai Besi was a historical mining town with many heavy industries such as steelworks, waste steel plants and other steel industries...
old airport site, dubbed the City of Malaysia. The site is currently the base for the Royal Malaysian Air Force.
In his speech on the 10th Malaysia Plan on 10 June 2010, Datuk Seri Najib Tun Razak said that the KLIFD and City of Malaysia are two of the many high-impact public-private partnership
Public-private partnership
Public–private partnership describes a government service or private business venture which is funded and operated through a partnership of government and one or more private sector companies...
(PPP) projects that will help to drive the economic transformation agenda.
The Pasar Rakyat MRT
MRT
- Rapid transit systems :* Jakarta Mass Rapid Transit* Kaohsiung Mass Rapid Transit system in Kaohsiung, Taiwan* Manila Metro Rail Transit System* Mass Rapid Transit system in Singapore* MRT , officially named Mass Rapid Transit...
Station, the Mass Rapid Transit
Mass Rapid Transit
The term Mass Rapid Transit may refer to Rapid transit.The name Mass Rapid Transit is used by the following specific rapid transit systems, either as an official name or otherwise:* Mass Rapid Transit system in Singapore...
station located at Kuala Lumpur International Financial District (KLIFD) has been proposed, near Bulatan Pandan, Jalan Tun Razak, Kuala Lumpur
Kuala Lumpur
Kuala Lumpur is the capital and the second largest city in Malaysia by population. The city proper, making up an area of , has a population of 1.4 million as of 2010. Greater Kuala Lumpur, also known as the Klang Valley, is an urban agglomeration of 7.2 million...
.