Banda Malaysia Facing Collapse

• 27 July 2017
• Construction Focus
• 4568 Views

The largest real estate project in Malaysia faces collapse after the government cancelled the contract with the Chinese-Malaysian developer in May after it failed to meet payments.

Banda Malaysia was intended to be a flagship development creating a new business district and transport hub in downtown Kuala Lumpur spread across almost 200 hectares.

It was also intended to be location of the stunning new terminus of the KL – Singapore high speed rail link and house the ASEAN HQ of state-owned China Railway Engineering Corp (CREC).

The Malaysian government has turned to China’s richest man, Wang Jianlin, and his property-entertainment conglomerate, Dalian Wanda Group, to take over as master developer of the scheme, though recent Chinese capital controls may still scupper the deal.