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Old June 25th, 2014, 06:54 AM   #21
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http://www.bnbbc.my/?p=16673
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Old June 26th, 2014, 02:15 PM   #22
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Bukit Bintang City Centre to have 50% bumi participation


By Bernama
Wednesday, 25 June 2014 12:07 Bookmark and Share



KUALA LUMPUR: UDA Holdings Bhd expects the Bukit Bintang City Centre (BBCC) project, with a gross development value (GDV) of up to RM10 billion, to have 50% participation by bumiputera contractors.

Its chairman Datuk Johari Abdul Ghani said the participation of bumiputera contractors in the project is in line with the Economic Transformation Programme agenda, which seeks to have more bumiputeras involved in mega projects.

“However, we will ensure that only qualified bumiputeras are involved in the project and it is not handed over to a third party,” he told a media briefing yesterday.

The project cost for the redevelopment of the Pudu jail site is estimated at RM5 billion.

Johari said UDA had also set up a consortium with another two partners — Eco World Development Group Bhd, which holds 40% equity, and the Employees Provident Fund (EPF) with a 20% stake.

He said UDA had evaluated proposals from three companies and identified the potential developer based on financial performance and experience in mega projects.

“The EPF is involved in the Battersea Power Station development project in London, and the same goes with Eco World, which has also participated in a consortium project before.

“We cannot afford to fail in this project, and that is also the reason why we took a number of years to conduct a study before starting the project,” he said.

On rumours of direct negotiations with Eco World, he said local companies had submitted proposals for the project, but Eco World was selected based on the specific requirements and its ability to handle huge projects.

The five million sq ft development will comprise retail malls, an entertainment hub, strata offices, super skyscraper signature tower and serviced apartments.

Asked about the impact on UDA’s business, Johari said the rental income would be one of the major contributors to the group’s earnings.

“The income from BBCC will be channelled to build affordable houses in Kampung Baru,” he said.

The project’s timeline is expected to be about five to seven years, and upon completion the recurring income from rental is projected to be about RM160 million annually. — Bernama


This article first appeared in The Edge Financial Daily, on June 25, 2014.

More: http://www.theedgeproperty.com/news-a-views/12777.html
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Old June 26th, 2014, 02:35 PM   #23
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Title of the thread says 500m+ but I don't think this tower will reach that height with just 88 floors and no spire on top.


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Old June 29th, 2014, 05:36 PM   #24
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KL skyline to rival Dubai, New York and Tokyo

By MUHAMMED AHMAD HAMDAN - 28 June 2014 @ 10:35 AM



A SLEW of mega-projects over the next six years will transform the Kuala Lumpur skyline to rival that of other vibrant metropolises, such as Tokyo, New York and Dubai.

Some of the higher profile, multi-billion ringgit mixed-development projects include the Tun Razak Exchange (TRX), Bukit Bintang City Centre (BBCC) and Warisan Merdeka.

These projects will push the nation’s architectural and engineering know-how to their limits and bring the living standards of Malaysians to new levels.

More importantly, they will highlight Malaysia’s desire to become the region’s new financial and business hub.

Running in tandem with these projects will be the ongoing upgrading works to bring the city’s public transport system and infrastructure to world-class standards.

If things go according to plan, the Warisan Merdeka development will boast the country’s new tallest building upon completion in 2019.

The Warisan Merdeka tower, coded KL118 Tower in the project’s procurement contracts to local and international firms, will be a new landmark of the country after overtaking the Petronas Twin Towers as being the world’s tallest twin buildings.

Worth some RM5 billion, the 118-storey, mixed-use tower, to be developed by Permodalan Nasional Bhd, will measure more than 500m in height, surpassing the 452m Petronas Twin Towers.

According to reports, the development will be on a 7.6ha site within the enclave of Stadium Merdeka and Stadium Negara. The two stadiums will be retained as national heritage buildings.

Meanwhile, led by 1Malaysia Development Bhd, TRX is slated to become a dedicated international financial and economic hub, promoting Malaysia as a new global economic growth nucleus.

The iconic structure in TRX will be a signature 71-storey office tower, scheduled for completion in 2018.

The overall 28ha real estate development, in the heart of the city, is intended to cluster together economic and financial sector players, where TRX will be the enabler and a model for easier cooperation.

TRX will form the new apex to the Golden Triangle, currently anchored by Kuala Lumpur Convention Centre to the north and KL Sentral to the west.

The first phase of the sprawling financial district is due to kick off in the middle of next year, with prime, Grade A office towers offering a gross floor area of between 750,000 sq ft and 1.2 million sq ft. The phase is estimated to generate a gross development value (GDV) of between RM5 billion and RM6 billion.

Over its 15 to 20 years of development, TRX is projected to generate a GDV of RM26 billion.

TRX will have a twin, and it’s called Bandar Malaysia, the redevelopment of the old airport in Sungai Besi.

Bandar Malaysia is 3km from TRX and has been promoted as having the most innovative solutions for liveability in a new urban ecosystem.

While its detailed masterplan remains scarce, especially on its iconic building, it is understood the project will have several tall residential and office towers.

The BBCC project, which was announced by UDA Holdings Bhd this week, is a redevelopment of the former Pudu jail site here into a mega-development worth up to RM10 billion.

BBCC will be developed on a 7.85ha site by a consortium comprising UDA as the landowner, Eco World Development Holdings Bhd and the Employees Provident Fund (EPF).

The consortium will set up a special purpose vehicle, of which UDA and Eco World will own a 40 per cent stake each, while the remaining 20 per cent will be owned by EPF.

The jewel in the crown will be an 88-storey signature tower, saif to be reminiscent of Burj Khalifa in Dubai, with a third of the tower set to comprise strata title offices, and the rest will feature up to 400 hotel rooms and exclusive condominiums.

Over to Jalan Duta, Naza Group is building KL Metropolis, which is envisioned to be the “International Trade and Exhibition City” for Kuala Lumpur.

Launched in late October 2011 spanning 75.5 acres, the project’s landmark building is the new Matrade Centre, which is learnt to be 90 to 120 storeys high.

The new building, according to Naza group, is set to become the epicentre for meeting, incentive, convention and exhibition activities with a developed space of one million sq ft.

http://www.nst.com.my/node/7325
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Old July 7th, 2014, 10:36 AM   #25
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Will be started soon..
Info board and hoarding are up...


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Old July 7th, 2014, 10:46 AM   #26
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Old August 4th, 2014, 04:39 PM   #27
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UDA to launch REIT in five years, says Johari
4 AUGUST 2014 @ 6:10 PM
http://www.nst.com.my/node/19991

UDA Holdings Bhd will launch a real estate investment trust (REIT) in five years featuring a combination of properties from its Bukit Bintang City Centre (BBCC) development, here.

Chairman Datuk Johari Abdul Ghani said UDA may also inject properties from new projects that it plans to develop in the Klang Valley.

He told Business Times that REIT is one of the options that the company is looking at to grow its business.

He said the REIT’s size will depend on the yield of the properties that it plans to inject into it, with the value at more than RM2 billion.

“At this stage, we need to beef up the components of BBCC. Right now, we are looking at a five-star hotel with more than 400 rooms, a one million square feet mall, a 40-storey corporate block, an 88-level signature office tower, and up to three condominium blocks.

“We will also have a serviced apartment block operating as a five-star hotel,” Johari said.

BBCC will be developed on a 7.85ha site that once housed the Pudu Jail, which was closed in 1996.

The seven-year development will also comprise a transportation hub and linked to the mass rapid transit, light rail transit and monorail systems.

Work to redevelop the site will start early next year by a consortium that includes Eco World Development Holdings Bhd.

Eco World and UDA will have a 40 per cent stake each in a special purpose vehicle (SPV), while the Employees Provident Fund (EPF) will own the balance.

Johari said Phase 1 of development will include the signature office tower and mall, while Phase 2 will consist of the residential towers and office block.

The final component will include the two hotels that will be operated by international players, he said.

“The SPV will retain the mall and anything to do with recurring income, including the hotels and 40-storey corporate block.

“At the end of the day, we want to make sure we make money from the REIT so that we can redevelop other sites and also build affordable homes in Kampung Baru.

“As a consortium, we can look for other pieces of land to develop,” Johari said.

---------
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Old August 4th, 2014, 07:01 PM   #28
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tallest tower in phase 1, that's what i like to hear
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Old August 22nd, 2014, 04:49 PM   #29
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Today
...
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Old October 6th, 2014, 01:56 AM   #30
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any update?
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Old November 10th, 2014, 10:09 AM   #31
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...
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Old January 30th, 2015, 12:16 PM   #32
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Will be started soon

Quote:
UDA, EcoWorld, EPF to seal joint development deal on former Pudu Jail site

By theedgemarkets.com / theedgemarkets.com | January 30, 2015 : 5:59 PM MYT


KUALA LUMPUR (Jan 30): UDA Holdings Bhd (UDA), Eco World Development Group Bhd (EcoWorld) and the Employees Provident Fund Board (EPF) will seal a tripartite agreement to jointly develop the RM8 billion Bukit Bintang City Centre (BBCC) project on Wednesday, Feb 4, a press invite issued jointly by the three parties revealed.

The redevelopment of 19.4 acre Pudu Jail site will contain a mixed residential and commercial development with a proposed world-class master plan, consisting strata offices, office towers, a hotel and serviced residences; and a Lifestyle Centre which will include a Malaysian Grand Bazaar, a retail mall, F&B and entertainment components
http://www.theedgemarkets.com/my/art...pudu-jail-site
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Old January 30th, 2015, 01:23 PM   #33
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Is it 400m+ or 500m+ eh?
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Old January 30th, 2015, 02:09 PM   #34
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Is it 400m+ or 500m+ eh?
i think it going to be 300++... but hopefully it will reach more than that
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Old January 31st, 2015, 06:27 AM   #35
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i wonder how soon is “soon”
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Old February 3rd, 2015, 08:46 AM   #36
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Quote:
Eco World to ink deal on RM8bil BBCC project
Tuesday, 3 February 2015
BY: LEONG HUNG YEE


Liew: ‘No stigma issue.’

PETALING JAYA: Eco World Development Group Bhd (Eco World), UDA Holdings Bhd (UDA) and the Employees Provident Fund (EPF) board will be signing a tripartite agreement tomorrow to jointly develop the Bukit Bintang City Centre (BBCC) project with a gross development value of RM8bil.

The BBCC project, a redevelopment of the 19.4-acre former Pudu jail site, will comprise a mixed residential and commercial development with a proposed world-class master plan, consisting strata offices, office towers, a hotel and serviced residences.

There will also be a lifestyle centre which will include a Malaysian grand bazaar, a retail mall, food and beverages as well as entertainment components.

When contacted, Eco World non-executive director Tan Sri Liew Kee Sin said Eco World and UDA would hold a 40% equity stake each in the consortium, while the EPF would hold the remaining 20%.

“No stigma issue,” he said, when asked if the consortium would face any issue selling the properties given that it once housed the Pudu jail.

Liew also disclosed that the consortium would also be signing a memorandum of understanding with Mitsui Fudosan Co Ltd of Japan to jointly develop the shopping and retail component of the project.

“I don’t think it will be biggest (mall) but it will definitely be well-designed and managed by Mitsui Fudosan,” he added.

..
http://www.thestar.com.my/Business/B...ect/?style=biz
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Old February 7th, 2015, 05:57 PM   #37
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http://www.thestar.com.my/Business/B...ive/?style=biz
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Old February 9th, 2015, 05:11 PM   #38
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Old February 11th, 2015, 07:35 AM   #39
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Developer of Bukit Bintang City inks MoU with Zepp Hall
Wednesday, 11 February 2015
BY: ZUNAIRA SAIEED

(From left): UDA Group MD Datuk Ahmad Abu Bakar, Zepp Hall president Satoshi Senoo, Johari, Mitsui Fudosan Co Ltd executive managing officer Takeshi Suzuki, and Eco World Development Group Bhd director Tan Sri Liew Kee Sin at the signing ceremony

KUALA LUMPUR: BBCC Development Sdn Bhd, the developer of the Bukit Bintang City Centre (BBCC) project, has signed a memorandum of understanding (MoU) with Zepp Hall Network Inc for the latter to participate in the entertainment component of the project.

Zepp Hall is a subsidiary of Sony Music Entertainment (Japan) Inc.

Earlier this month, UDA Holdings Bhd, Eco World Development Group Bhd and the Employees Provident Fund had formed a special-purpose vehicle - BBCC Development - to undertake the BBCC project at a gross development value of RM8bil.

UDA Holdings chairman Datuk Johari Abdul Ghani, in a statement, said Zepp Hall would study the feasibility of setting up a Live Event Hall in BBCC, which besides adding a unique entertainment attraction to the project for locals and tourists, would also be a contribution to the development of the local music industry.
http://www.thestar.com.my/Business/B...all/?style=biz
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Old April 23rd, 2015, 07:38 PM   #40
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EPF joint ventures still on: CEO

10 APRIL 2015 @ 7:20 PM KUALA LUMPUR: The Employees Provident Fund’s (EPF) two domestic joint-venture (JV) projects – Bukit Bintang City Centre (BBCC) and the development of logistics assets with the Goodman Group – are still on.

Its chief executive officer (CEO), Datuk Shahril Ridza Ridzuan, said he expected the development order for the BBCC project to be submitted and approved this year. “Once approved, the JV can proceed with the actual roll-out of the project and its construction works next year,” Shahril told a media briefing here today in conjunction with the release of the fund’s 2014 Annual Report.

The BBCC project is a JV with UDA Holdings Bhd and the development of logistics assets is a JV with Goodman Group. On EPF’s overseas investment, Shahril said, the fund was in discussions to divest one or two of its property assets in the UK. “Probably it is now a good time to start looking at the disposals to reap the benefits,” he said.

Shahril, however, declined to elaborate. For the financial year 2015, Shahril said EPF would continue to be ‘overweight’ on the equity market like last year. – Bernama
Read More : http://www.nst.com.my/node/80141
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