Media statement by 1MDB as mediator in the dispute over Restaurant Imbi Palace and on behalf of all parties involved. 1MDB (1Malaysia Development Berhad) has successfully mediated in the dispute over Restaurant Imbi Palace which currently sits on its land.

1MDB will step in to mediate in a dispute that has caused an unauthorized partial demolition of Restaurant Imbi Palace on the land owned by 1MDB. This is a dispute between lessee and sub-lessees on vacating the premises. Notice to vacate was first issued to occupants of KLIFD land on 6 December 2010, giving them fair time to relocate.

1MDB (1Malaysia Development Berhad) has started its tender process on major foundation works for the Kuala Lumpur International Financial District (KLIFD). A pre-qualification exercise is in progress, inviting contractors to participate in the construction and completion of earthwork and excavation works, retaining structure, piling works and related sub-structure works.

1MDB is developing a Digital Master Plan for a digitally smart Kuala Lumpur International Financial District (KLIFD). 1MDB Real Estate Sdn Bhd deputy CEO Dato’ Azmar Talib said: ““We aim for KLIFD to be a leading financial district with state-of-the-art connectivity, utilising technologies that are smart, intelligent and future proof.”