PNB Merdeka tower on track for early 2021 completion

KUALA LUMPUR: The construction of Permodalan Nasional Bhd’s (PNB) Menara Warisan Merdeka is on track for completion by early 2021.

The three phases of development includes the iconic Merdeka PNB118, a 630-meter tower, which is set to be the tallest building in Southeast Asia when completed.

It will house PNB group of companies, a retail mall, residential apartments and condominiums, as well as a commercial building.

President and group CEO Datuk Abdul Rahman Ahmad said the construction of the 118-storey PNB118 Tower is underway at the 61th floor.

“We expect 78% of the building to be completed by year-end. The cost is within budget and we are not affected by the ringgit fluctuation as we have locked the cost with the contractor as it was a fixed-price contract,” he told reporters after the breaking of Ramadan fast recently.

As for the existing PNB office building, he said PNB still has no plan on the 40-year-old building as it needs refurbishment.

“Once we’ve move to the new building, we will look at what we need to do with the building, make plans in order for it to generate income,” he said

Source: TheSunDaily