Menara MAIWP, KLCC

Menara MAIWP (also known as Menara Wakaf) is located in Jalan Perak, within the Golden Triangle vicinity of Kuala Lumpur, is owned by Majlis Agama Islam Wilayah Persekutuan (MAIWP). Its building features delicate Islamic motifs and is still under construction as in March 2011. The building is nearing its completion since the start of works in August 2007.

This single-block building has 34 storeys with 22 storeys being offices. Built on a land of 466,000 sf, the tower consists of 362,800 sf net lettable area. The cost of construction is fully borne by Lembaga Tabung Haji, which is claimed to be RM151 mil.

Located in the Golden Triangle, Menara MAIWP is sited next to Menara Perak and near to Menara KL, Menara KLCC, Wisma Hong Leong, as well as a few other hotels such as Equatorial Hotel and Crowne Plaza Mutiara. Adjacent to the end of Jalan Perak is the infamous Jalan P Ramlee which is synonymous with exuberant nightlife.

To gain access to Menara MAIWP is not much of a hassle, although travelers should schedule their departure earlier, taking traffic jam into account. For commuters who travel by public transport, there is a KLCC LRT along Kelana Jaya line, as well as Raja Chulan Monorail station which is approximately 1 km away. RapidKL buses also provides services to Suria KLCC which is less than 2 km away from Jalan Perak. Menara MAIWP is located near to numerous facilities, however the cost of living around the area is high due to its location in the city centre.

Property Details

• Name: Menara MAIWP (also known as Menara Wakaf)
• Address: Lot 168 & 169, Jalan Perak, 50450 Kuala Lumpur
• Developer: Crest Builder Holdings
• Completion Date: 2011
• Type: Office Tower
• Tenure: Freehold
• No. of Blocks: 1
• No. of Storey: 34
• Rental: RM4.90 psf

Facilities

• Function and multipurpose halls
• 400 parking bays
• Banking facilities

Analysis

Menara Wakaf is one of the ongoing projects of TH Technologies, a subsidiary of Lembaga Tabung Haji. It may serve as the future headquarters of Bank Islam, thus the other name of the building being Menara Bank Islam. TH Technologies predicted Menara Wakaf to be completed by October 2010, but MAIWP scheduled its completion in February 2011. It is said to be handed over to MAIWP soon.

The building’s revenue is to be contributed to Tabung Haji as an aid to the Muslim society in Malaysia. TH Technologies claimed it to be a building built on the most strategic wakaf land due to its location in the Golden Triangle, hence it is believed that the property value will grow gradually as years go by.