Kuala Lumpur City Centre (KLCC) is a master-planned, mixed-use development encompassing 40.5 hectares (100 acres) of prime land in the middle of Malaysia’s capital city. It is the largest public/private real estate development venture in Malaysia. The project’s major landmark, the PETRONAS Twin Towers, undoubtedly will remain the development’s primary anchor. The towers were officially declared the tallest buildings in the world in 1998. The KLCC project is being constructed in phases over many years. The master plan shows a total of 22 separately titled development parcels surrounding a 20-hectare (50-acre) park. Seven parcels either have been developed or are under construction in 2004. The success of KLCC was seen from the outset to be of national interest. The owner and developer KLCC — Holdings Berhad, an unlisted public company whose largest shareholder is Petroliam Nasional Berhad (PETRONAS), the Malaysian national petroleum company — is responsible for the development and coordination of new projects undertaken directly or in joint venture with other firms.