MGPA – formerly known as Macquarie Global Property Advisors – will be investing RM2 billion to redevelop the Empire Tower, City Square, the Crown Princess Hotel and Plaza Ampang, and to integrate these properties with a brand new office tower.

Located on Jalan Tun Razak, Kuala Lumpur, the project will be known as The Intermark, an integrated mixed-use precinct sitting 500 metres from Petronas Twin Towers and a two-minute walk to Ampang Park LRT. The RM2 billion to be invested includes acquisition and construction costs.

MPGA Asia Developments chief executive officer, Michael Wilkinson said: “The Intermark will redefine what occupants can expect from a working environment and will appeal to multinationals and the energy sector. The precinct enjoys excellent connectivity to the city, and a seamless combination of high quality retail, commercial and hospitality spaces.”

The project will comprise Vista Tower, a refurbished 62-storey office building; Intermark Mall, a retail centre; Malaysia’s first Doubletree by Hilton Hotel, a hotel for business travelers; as well as Integra Tower, a new environmentally sustainable 30-storey office tower offering international grade A space with a large floor plate.

Vista Tower will be the first component of the re-development, featuring grand double-height lobby, high speed destination controlled lifts and high security access control. The tower is now available for lease with rental rates between RM7 and RM9 psf per month.

The Intermark was designed by architectural firm, Aedas, the second largest practice in the world. Its executive principal Kevin Jose said: “The Intermark is one of the most prominent sites in the Kuala Lumpur city centre. We are confident that, working with MGPA, we can deliver a truly world class mixed use development that will bring a new level of business synergies and vibrancy to the corporate environment.”

MGPA is an independently managed private equity real estate investment advisory company focused on real estate investment in Europe and Asia. It currently manages US$11 billion in assets throughout these two regions.