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PETALING JAYA: Permodalan Nasional Bhd’s (PNB) wholly owned subsidiary PNB Merdeka Ventures Sdn Bhd (PMVSB) has signed a management agreement with Oakwood Premier Kuala Lumpur to welcome an Oakwood Premier-branded residential tower to Kuala Lumpur’s iconic Merdeka 118 precinct.

Oakwood Premier Kuala Lumpur will occupy one of the residential towers within the Merdeka 118 development featuring 348 serviced residences with one, two and three-bedroom categories with living spaces up to 120 square metres.

Scheduled to open in December 2024, Oakwood Premier Kuala Lumpur will be the brand’s second property in the city, following Oakwood Hotel & Residence Kuala Lumpur. It joins a rapidly expanding portfolio of Oakwood Premier properties in Bangalore, Guangzhou, Hangzhou, Incheon, Jakarta, Melbourne, Phnom Penh, Singapore, Seoul and Tokyo with more in the pipeline.

PNB president and group chief executive Ahmad Zulqarnain Onn said Oakwood Premier is a leader in premium residential services and with this comes its signature hallmark of comfort and convenience.

“PNB is confident that the Oakwood Premier brand will enhance the appeal of the Merdeka 118 development. Oakwood Premier Kuala Lumpur complements Merdeka 118’s mix of components, creating a desirable place to work, live and socialise in with fully activated, well thought out spaces for our visiting guests and resident community,“ said Ahmad Zulqarnain in a statement today.

Oakwood Premier Kuala Lumpur’s proposed facilities include an all-day dining restaurant/bar, executive club lounge, residents’ lounge, meeting facilities, fitness centre, swimming pool, and children’s playroom.

“In Kuala Lumpur’s most prestigious new development, Oakwood Premier will deliver our brand of residential lifestyle for discerning guests who seek indulgence and style without compromising on hospitality excellence,“ said Oakwood CEO Dean Schreiber.

The 118-storey tower is set to become the world’s second and Southeast Asia’s tallest building at a height of at least 644 metres upon completion.

The Merdeka 118 development will have the highest observation deck in Southeast Asia, the first Park Hyatt Hotel in Malaysia occupying the top 17 floors of the tower, a retail mall surrounded by four acres of greenery and open spaces, as well as three premium residential towers encircling the Merdeka 118 tower, this mixed-use development is anticipated to attract business and leisure travellers from around the world. The tower overlooks two national historical landmarks, Stadium Merdeka and Stadium Negara.

The Merdeka 118 tower will be the first tower in Malaysia to achieve both local and international triple green platinum accreditations, namely the Green Building Index, Green Real Estate and Leadership in Energy and Environmental Design.

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