A Challenge to Reach the Sky: Collaborative Effort in the Development of the Petronas Twin Towers of Kuala Lumpur

Noor Rosly Hanif and Wan Nor Azriya Aziz

ERES from European Real Estate Society (ERES)

Abstract: Land development process has been argued as a set of cyclical reactions to a number of complex changing societal demands and expectations. The outcome has been conventionally expressed in terms of physical characteristics, its location (which is considered to be unique), and its context whereby it takes place under constant public interest, debate and scrutiny. Underpinning this are the notion that land development takes place in order to meet the needs and demands of society not limited to only in terms of its basic requirements for shelter and the provision of buildings to live. Rather, it also includes achieving national and city policies. Most importantly is that this activity is a fundamental dimension to both urban capacity and urban quality. Drawing upon a case study of the development of twin tower project in the capital city of Kuala Lumpur, Malaysia, this study seeks to examine the public-private partnerships between local authority of City Hall of Kuala Lumpur and private developer undertaken in meeting the challenge to accelerate land development. The ultimate goal is to fulfil the national aspirations. The study establishes that the private and public sector both have their respective strengths and weaknesses. Thus, each sector is made responsible for the issues for which it has a comparative advantage. The findings demonstrated that the outcome of this land development witnessed an outstanding achievement. A new modern city in the city emerged and accomplished the local authorityís policy to achieve the economic development of urban area.

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2007-01-01
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Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:eres2007_411

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