Dato Sri Dr. Mohd Nizom Bin Sairi, Chairman of Varia Berhad
Datuk Lau Beng Sin, Managing Director of Varia Berhad
En. Azlan Shah Mohd Yusoh, CEO of Citaglobal Property Development Sdn Bhd 4. Tan Sri Mohamad Norza Zakaria, Executive Chairman & President
of Citaglobal Berhad
KUALA LUMPUR, 24 November 2025 – Citaglobal Property Development Sdn Bhd, a wholly owned subsidiary of Citaglobal Berhad (“Citaglobal”), has entered into a Joint Venture Agreement (JVA) with Varia Crest Sdn Bhd, a wholly-owned subsidiary of Varia Properties Sdn Bhd, which in turn is a wholly-owned subsidiary of Varia Berhad (“Varia”), to jointly develop an integrated commercial development – a new landmark, sustainable development in the heart of Kuala Lumpur, with Citaglobal establishing its new corporate headquarters (Citaglobal Tower) within the development.
The signing of the JVA marks a key milestone in Citaglobal’s property growth journey, following its earlier acquisition of the project land from Bank Islam Malaysia Berhad (BIMB). The transaction laid the foundation for Citaglobal to unlock the site’s full potential and breathe new life into a prime parcel along Jalan Tun Razak, Kuala Lumpur.
The integrated commercial development will feature Grade A office space, serviced residences, a hotel, retail spaces, and a multi-level podium parking facility. Executive Chairman & President of Citaglobal Berhad, Tan Sri Mohamad Norza Zakaria, said, “Citaglobal Tower reflects our vision to shape Malaysia’s next chapter of sustainable urban growth. It represents how we create value by transforming strategic assets into impactful developments that combine commercial strength with environmental responsibility. This is the Citaglobal model of growth: disciplined, partnership-driven, and future-focused. Through projects like this, we are contributing to a more sustainable and competitive Malaysia.”
Managing Director of Varia Berhad, Datuk Lau Beng Sin, expressed his enthusiasm for the joint venture, highlighting the opportunity to combine the strengths of both companies to deliver a new mixed commercial development in the heart of Kuala Lumpur.
“With a successful track record spanning more than 40 years, delivering a diverse range of residential, high-rise, commercial, and infrastructure projects across Malaysia, Varia Berhad has built a reputation for quality, reliability, and innovation.
Over the years, we have continuously refined our project delivery capabilities, adopting efficient methodologies and market-responsive designs that create real value for stakeholders. This enduring experience forms the foundation of the strength and discipline we bring into this joint venture.
Together with Citaglobal Berhad, we are proud to introduce an integrated development that brings together business, lifestyle, and wellness in the very heart of Kuala Lumpur’s medical and tertiary education corridor, surrounded by renowned institutions such as the National Heart Institute (IJN), Hospital Kuala Lumpur (HKL), and KPJ Tawakkal. Strategically positioned within this healthcare hub, the project is envisioned to become a premier destination for medical tourism, corporate activity, and urban living.
The development will feature Grade A office spaces, serviced residences, a hotel, and retail components, designed to attract both local and international visitors while fostering a vibrant ecosystem where commerce, healthcare, and hospitality converge.”
Datuk Lau added,
“Varia Berhad has been entrusted to lead the planning, design, coordination, and delivery of this landmark integrated development, working closely with Citaglobal Berhad to ensure the highest standards of execution, quality, and sustainability.
We are also responsible for spearheading the sales and marketing efforts, positioning this project as a premier address that appeals to both local and international investors. We are confident that this maiden collaboration will mark the beginning of a long-term partnership between our two esteemed organisations, one that will continue to deliver innovative, sustainable, and high-impact developments that enhance Kuala Lumpur’s skyline and reinforce Malaysia’s position as a leading destination for medical tourism and urban excellence.”
The development order and building plan approvals are targeted to be secured within the coming months, with construction expected to commence thereafter and progress towards completion within the planned project timeline.
Citaglobal and Varia remain fully aligned in their commitments to deliver the project to the highest standards of governance, design, and sustainability, positioning this development as one of Kuala Lumpur’s most recognisable new landmarks, embodying the principles of Environmental, Social, and Governance (ESG) excellence.