Four Seasons Place project signifies China's commitment in OBOR initiative

26 May 2017 / 17:42 H.

KUALA LUMPUR: The Four Seasons Place project in Kuala Lumpur's golden triangle is a vital link for friendly exchanges between China and Malaysia.
Tourism and Culture Minister Datuk Seri Mohamed Nazri Abdul Aziz said the project also signifies China's commitment in realising its "One Belt, One Road" (OBOR) initiative across Southeast Asia.
"Our good relationship with China only appears to profit Malaysia," Nazri said after officiating the Topping Out Ceremony of the Four Seasons Palace Kuala Lumpur here today.
He also chided those who criticised Putrajaya for allowing China to invest in projects that would bring development to the country.
Nazri stressed that Malaysia would benefit from China's investments.
"If they (China) come and invest here, all the projects will remain here. How can they take the buildings back to China? So all the money comes here.
"It is not right when people say too much investment from China brings losses to us.
"They have a lot of money and they want to invest here, so it only brings us profit without incurring any losses. They also create employment, they pay the taxes and they boost the tourism industry, so I don't see the losses that we have to bear," he said.
The Four Seasons Palace is expected to be completed next year.
The project contractor is China Railway Construction Corporation (CRCC) while the developer is Venus Assets Sdn Bhd.
The Four Seasons Place features up to 77 floors, a high end urban mixed development that comprises commercial, residential and hospitality components in one locality.
The Four Seasons Hotel will also be completed in early 2018 in a 65-story mixed-use project that will also include 300,000ft² of high-end retail space.
China unveiled its One Belt One Road initiative in 2013 as a development strategy that focuses on connectivity and cooperation among various countries.
It has two components – the Silk Road Economic Belt that will be established along the Eurasian land corridor from the Pacific coast to the Baltic Sea, and the 21st century Maritime Silk Road.

thesundaily_my Sentifi Top 10 talked about stocks