The piling and foundation work for the project was awarded to Pintaras Geotechnics Sdn Bhd. The Permodalan Nasional Berhad shortlisted six groups for various construction jobs:
Samsung C&T and
UEM Group Bhd;
IJM Corp Bhd, Norwest Holdings Sdn Bhd, and Shimizu Corp;
Malaysian Resources Corp Bhd and State Construction Engineering Corp; WCT Bhd and Arabtec Construction LLC; TSR Capital Bhd and Daewoo Group; Seacera Group Bhd with Spaz Sdn Bhd,
Sinohydro Corp, and Shanghai Construction Group. These companies submitted their bids by 28 January 2015.
KONE, a Finnish group, is supplying around 87 elevators and escalators for the project. On 23 November 2015, PNB announced a contract worth RM3.4 billion has been awarded to the joint venture of South Korea's Samsung C&T and UEM Group Berhad. Furthermore, on 9 November 2017, PNB planned to raise up to RM5 billion fund for its project via a green
sukuk, the Merdeka Asean Green SRI Sukuk, with a 15-year tenure. The sukuk covered the development of its 83-storey office space, which forms part of the tower. It is the first adopter of the Asean Green Bond Standards launched by the
Securities Commission Malaysia that validates PNB commitment to develop the project as a sustainable and environmentally-friendly project. On 27 February 2018, it was announced that
Park Hyatt will open up a hotel in Merdeka 118. The Park Hyatt Kuala Lumpur will occupy the top 17 floors of the building; It is slated to have 232 units, including 28 suites and 30 apartments. The construction was halted on 18 March 2020 due to the
Movement Control Order in Malaysia caused by the
COVID-19 pandemic in the country, but works resumed in mid-May 2020. In early August 2020, the building's concrete core topped out at 118 floors surpassing the Vincom
Landmark 81 as the tallest building in
Southeast Asia. In June 2021, the tower was at 81% completion, with the installation of the glass façade in progress at Level 108 and has successfully reached Level 118 with its spire already 50% assembled along with the
retail podium. Turner International plays the role of Project Management Consultant for this complex development. The tower was topped out in November 2021. On 2 March 2025, the 1 km-long Belfield Tunnel linking to the underground carpark area of Merdeka 118 was officially opened. The two-storey tunnel can be accessed via
Jalan Syed Putra and
Jalan Damansara, while vehicles leaving Merdeka 118 through the tunnel exit onto
Jalan Syed Putra and
Jalan Istana. The tunnel will also serve visitors to Park Hyatt Kuala Lumpur and 118 Mall, set to open in the second quarter of 2025 and by June 2026, respectively. == Trespassing incidents ==