Cypark Resources Bhd, which was previously affected by cash flow and debt concerns, has received a helping hand from textile wholesaler Jakel Group which invested RM67.13mil into the renewable energy (RE) player.
THE property development arm of textile wholesaler and retailer Jakel Group is planning to build a 74-storey-tall building within the Golden Triangle near the Petronas Twin Towers in Jalan Pinang.
Sources peg the gross development value (GDV) of the development adjacent to the Kuala Lumpur Convention Centre and next to the Grand Hyatt Kuala Lumpur at an estimated RM2 billion. When completed, it may be as tall as Four Seasons Place.
A document sighted by The Edge shows that the developer, Mabrur Land Sdn Bhd, submitted building plans for Lot 195, Jalan Pinang, to Dewan Bandaraya Kuala Lumpur (DBKL) for approval on Jan 12. Plans for the freehold parcel, measuring 57,447 sq ft, include three floors of retail and four floors of exhibition space. Other components include a hotel, office and serviced apartment.