Malaysian Developer Mulls Towers for Former UBS London Land Plot

Sept. 2 (Bloomberg) — AlloyMtd Group, the Malaysian infrastructure builder, is considering developing two towers adjacent to UBS AG’s new headquarters in the City of London financial district.

The buildings would have about 19,500 square meters (210,000 square feet) of office space, a hotel and 21,700 square meters of apartments, according to a filing by the Hackney borough. The land plot was bought by AlloyMtd from UBS subsidiary Sun Street Properties Ltd. last year for 57.5 million pounds ($95 million), according to a separate filing to the Land Registry.

The buildings would be as high as 105 meters (340 feet) AlloyMtd seeks planning approval and proceeds with the project. Hackney borough council members will debate the possible project on Sept. 10.

Occupy London protesters took over one of the vacant buildings on the land in November 2011, protesting that the property had been left disused and empty.

AlloyMtd didn’t immediately reply to a phone call and e- mail seeking comment after normal working hours.

To contact the reporters on this story: Neil Callanan in London at [e-mail]; Patrick Gower in London at [e-mail] To contact the editors responsible for this story: Andrew Blackman at [e-mail] Ross Larsen