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Malaysia’s return match

7 January 2017 – by Janie Manzoori-Stamford

Malaysian developer AlloyMTD misplayed its Spitalfields investment nearly two decades ago but has now come back to the capital with a bold residential-led, mixed-use scheme on the edge of the City.

One Crown Place

“It was one of the worst decisions we could have made,” says AlloyMTD boss Azmil Khalid. “Look at Spitalfields now.”

The first time this Malaysian infrastructure firm made an investment play in London, it did not end well. It was back in 1996 when its subsidiary, Metacorps, became an equal partner in the Spitalfields Development Group. And in 2000 it made the decision to sell its one-third interest to Hammerson. It was a move that cost them millions. But now, more than 15 years on, the company is ready to return to the UK market.

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