World’s second-tallest tower tests Malaysia’s appetite for more skyscrapers

Quick Summary:

Kuala Lumpur has continued to add new skyscrapers despite growing doubts over the level of demand for property.

And yet, new buildings keep coming up.“It’s a mystery even to me,” Mr Ferlito said of the continued construction despite the diminishing returns from real estate.

According to Permodalan Nasional Bhd (PNB), the government-linked investment firm behind Merdeka 118, the building was meant to put the company on the world map and create a new national symbol.

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Article Details

Category: EconomyBusiness

Markets: SingaporeMalaysiaUnited States

Topics: Homes Building Merdeka Kuala Property Malaysia’s Estate Prime It’s Buildings Construction

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-06 @ 08:29:00 (5 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 1047 words

Reading Time: 6 minutes read

Sentences: 47 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 22386036

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