This city is moving a step closer towards becoming the southern financial hub as two banking groups are planning to build their tower next to each other on a plot of prime land.
The site of the two towers is currently used as an open parking area between the Puteri Pacific Hotel and Plaza Kotaraya.
So far, landowner Johor Corp (JCorp) had sold about half of the land lot measuring 23,000 square feet to Bank Simpanan Nasional (BSN) for RM13 million.
It is understood that BSN will spend another RM36 million to build a 12-storey tower with a floor space of 85,000 sq ft and 130 parking lots.
While it is not immediately known how tall the other tower will exactly be, sources close to JCorp revealed that the two towers are likely to be made a twin tower.
BSN signed a sale and purchase agreement with JCorp on the land parcel recently.
BSN chief executive officer Datuk Adinan Maning signed on behalf of the bank while JCorp was represented by its president and chief executive officer Kamaruzzaman Abu Kassim
BSN also signed a deal with Damansara Assets Sdn Bhd (DASB), a JCorp subsidiary, appointing the latter as development manager to oversee the construction project, which is expected to take about 18 months.
Kamaruzzaman said the development of the land is significant in Iskandar Malaysia as it would accelerate the development of Johor Baru into a financial hub in the southern region.
"Already, there are several banks operating in neighbouring areas. When the land parcel is fully developed, it is set to change the development landscape in the city centre.
"Negotiations are still ongoing with another big banking group. We hope to clinch the deal soon," Kamaruzzaman said in an interview. Business Times
