Tradewinds Corp acquires land for RM258 mil on Jalan Belfield

KUALA LUMPUR (July 31): Tradewinds Corporation Bhd announced its acquisition of 12.2 acres of land in Jalan Belfield for RM258 million to build a mixed-use development called Project Belfield. A 9.3 acres portion with a gross development value of RM3.8 billion, will be developed in six phases and Phase 1 of residences built on a niche eco-friendly retail component will commence construction early 2016 and be up for sale soon after.

The development is the company’s maiden mixed-use development and according to Tradewinds Corp managing director Datuk Wira Azhar Abdul Hamid (pictured), the land is situated within the green enclave of Jalan Belfield in the vicinity of the former Istana Negara and purchased using internally generated funds. 

“Our six-phase Belfield development perfectly aligns with this approach. Its location along Jalan Belfield and the proximity to several mega projects and the city centre will help unlock significant value and establish bankability for our potential buyers,” said Wira Azhar in a press statement.

“The advent of Belfield development will complement Tradewinds Corp’s other upcoming projects such as Menara Tun Razak, Bukit Bintang Plaza and Tradewinds Square and further its commitment to become the benchmark for living and working spaces for future generations,” he added.

Currently, the company is engaging with potential strategic partners to develop its existing landbank of more than 4,000 acres across Malaysia.

“Besides having a steady project pipeline in place, we will be in a strong position to influence the future of property development in Malaysia,” Wira Azhar noted.