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Bosse was a key designer of China’s Beijing National Aquatics Centre, also known as the Water Cube.

Although many people may not consider moving to Klang, the town’s housing demand is strong as it is supported by local Klangites who want to continue living there.

Sales of such homes have hit an 11-year high, driven by “increased demand from Chinese millionaires seeking safe-haven assets”.

The move is expected to help with the sale of properties priced at RM600,000 and above that make up between 60% and 70% of unsold properties in the state.

Foreign Minister Saifuddin Abdullah: "We know it is going to be tough”

“Homeownership plays a key role in ensuring the well-being of the nation, both socially and economically.”

Executive Director of Planning Department at Kuala Lumpur City Hall (DBKL) Nurazizi Mokhtar: Housing is always a major challenge for many cities around the world. 

If it happens, the deal would make the new entity one of the largest property developers by landbank in Malaysia with 7,284ha and a GDV of RM190 billion.

Shareholders sued the bank for unspecified damages in December, accusing it of misleading them about the firm’s work with 1MDB, for which the bank arranged US$6.5 billion (RM27.17 billion) in bond sales.