Malaysia's PNB Plans $1.4 Billion Sukuk for Skyscraper Project.

  • Published In: Bloomberg.com, 2025. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Lee, Joy 3 of 3

Abstract

The article focuses on PNB Merdeka Ventures Sdn.'s initiative to issue up to 6 billion ringgit (approximately $1.4 billion) in Islamic bonds, known as sukuk, to support the development of the Merdeka 118 precinct. This funding will aid in the ongoing construction of the Merdeka 118 tower, which is the world's second tallest building, and will also be used to refinance existing sukuk. The project includes office space with a 70% occupancy rate and a recently opened Park Hyatt Kuala Lumpur, while 70% of the space in its upcoming seven-story mall has already been committed. CIMB Investment Bank Bhd. and Maybank Investment Bank Bhd. are collaborating to arrange the sukuk program. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2025/08, pN.PAG
  • Document Type:Article
  • Subject Area:Architecture
  • Publication Date:2025
  • Accession Number:187551002
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