Bangunan MAS, KLCC

Permodalan Nasional Bhd (PNB) bought over Bangunan MAS in 2006 for RM130 million. This iconic building was completed in 1987 and has been a landmark along Jalan Sultan Ismail in Kuala Lumpur for many years. The former MAS headquarters was 35 storeys tall and its major tenants were Syarikat Perumahan Negara and Jabatan Kebudayaan and Kesenian, and also Holiday Villages of Malaysia Sdn Bhd (which manages Club Med Malaysia).

Plans are underway to upgrade the original building into a Grade A++ office building and a new five or six-star luxury hotel alongside it. The combined worth for this project is estimated at RM1 billion (or more). Bangunan MAS is located on the same row as Menara Promet and just 2 minutes walk away from the Raja Chulan Monorail Station. Across the road are Kenanga International, Equatorial Hotel, Kompleks Antarabangsa and Crowne Plaza Mutiara. The area is filled with many amenities, like banks, restaurants, hotels, retail outlets. Just 5 minutes drive away is the Petronas twin towers, shopping mall and the KL Convention Centre.

Property Details

• Name: Bangunan MAS
• Address: Jalan Sultan Ismail, 50250 Kuala Lumpur
• Completion Date: 1987 (original)
• Tenure: Freehold
• Type: Mixed development
• No. of Storey: 35 (original); 68 (under construction)
• Rental: From RM5.00 psf

Facilities

• Basement carpark
• Cleaning services
• Centralized air-conditioning
• 24hrs security
• CCTV monitoring

Analysis

Full details of the refurbishment and upgrading work of Bangunan MAS have not been disclosed as approval from the relevant authorities has yet to be established. PNB being an asset management company is certain to garner much return and not to mention publicity in anticipation of the new-and-improved Bangunan MAS and luxury hotel.

With location being key, the building site is in a strategic location. Jalan Sultan Ismail being a main thoroughfare in KL is the address for luxury hotels, office towers and corporations. Being so close to the KLCC area is also a plus point. Other major roads that connect to Jalan Sultan Ismail are, Jalan Raja Chulan, Jalan P Ramlee, Jalan Ampang and also links to the Ampang Elevated Highway.

Another project by the same corporation received a lot of attention and controversy. In the last quarter of December 2010, the Prime Minister revealed plans to build a 100-storey tower or Warisan Merdeka via PNB set to be completed in 2015. Aimed at being the new headquarters for PNB (utilizing 50 floors), the tower was proposed to create investment opportunities for the public and even international. Bangunan MAS is close to Menara KH, Menara Dion and St Mary Residence.