Naza TTDI KL Metropolis Bhd is teaming up with a private financing initiative to develop Malaysia’s largest exhibition and convention centre in Kuala Lumpur known as Matrade Centre. The private financing initiative which is managed by the government signed an agreement with Naza yesterday.
The largest exhibition and convention centre that costs RM628 million is scheduled to be completed by 2014. Located adjacent to the existing Menara Matrade along Jalan Khidmat Usaha, Off Jalan Duta, the plot of land for the centre is provided by the government.
According to International Trade and Industry Minister Datuk Mustapa Mohamed, the project is expected to reach a gross development value (GDV) of RM15 billion in 10 years time. He commented that Malaysia is currently behind several other neighbouring countries in terms of meeting, incentive, convention and exhibition (MICE) industry.
However, Malaysia as a trading country must take initiative to boost export promotion activities. Even though the country has been promoting MICE actively in the past, the event failed to accommodate more than 5,000 to 10,000 participants since we do not have large exhibition centre.
For this latest largest 1 million sq ft centre, it will be connected to Menara Matrade and plays an important role in hosting events for heavy industries as well as advanced technology exhibitions.
This proposed Matrade Centre is a suitable convention hall for various events such as Malaysian International Furniture Fair, International Trade Fair Malaysia, Malaysia International Halal Showcase and Defence Services Asia Exhibition and Conference.
Mustapa commented that the development of such centre is meant to strengthen Kuala Lumpur as the centre for MICE destination in the region. It will be fully equipped with state-of-the-art facilities.
Meanwhile, Naza TTDI Sdn Bhd chairman SM Nasarudin SM Nasimuddin said there are already architects vying for the masterplan to build the centre. The project also incorporates hotels and shopping malls. He also said that the total gross floor area is at par with other exhibition centres in Thailand and Singapore.