The Twin Towers are owned by Midciti Resources Sdn Bhd, a joint venture between PETRONAS and KLCC Holdings Sdn Bhd, with PETRONAS holding a 49.5 per cent interest in Midciti Resources. KLCC Holdings is also a company within the PETRONAS group which was established to undertake the development and management of real estate properties in KLCC. PETRONAS, together with PETRONAS Retirements Fund, have a combined interest of 51 per cent in KLCC Holdings.
The KLCC project is located at the former Selangor Turf Club, a 100 acres site in the heart of Kuala Lumpur' Golden Triangle. Some 50 acres of the site have been turned into a tropical parkland with the other 50 acres slotted for commercial development. The entire KLCC project will provide 18 million sq ft of a balanced mix of commercial, retail, hotel and recreational facilities, to be developed over 15 to 20 years.
Development of Phase I of the KLCC project involves the construction of PETRONAS Twin Towers, a six-storey retail podium, two office buildings and a hotel. It provides 5.4 million sq ft of commercial space, 1.8 million sq ft of retail space and 0.8 million sq ft of hotel space and 7,000 parking bays. Work on the first phase, located at the north-west corner of the site, is progressing well.
The contractor for the master plan of the KLCC project is Klages, Carter, Vail and Associates from the United States. The project's design contactor is RSP Architects Planners and Engineers in association with Kumpulan Senireka Sdn Bhd, Caesar Pelli and Associates, Adamson Associates and Studios.
As for the Twin Towers, the
contractor for Tower 1 is a consortium comprising Hazama Corporation, J.A
Jones Construction Company, MMC Engineering Services Sdn Bhd, Ho Hup Construction
Company Berhad and Mitsubishi Construction. The contractor for Tower 2
is a consortium comprising Samsung Engineering & Construction Co. Ltd.,
Kuk Dong Engineering & Construction Co. Ltd. and Syarikat Jasatera
Sdn Bhd.