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Old July 26th, 2009, 07:05 PM   #121
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Old pic from flickr

[img]http://www.**************/show/2009/07/26/07/29/4594526_799x533.JPG[/img]
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Old July 28th, 2009, 12:57 PM   #122
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Old July 28th, 2009, 01:42 PM   #123
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Old July 28th, 2009, 10:41 PM   #124
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Quote:
Originally Posted by nazrey
Plaza Rakyat Contractor To Be Announced August
July 05, 2009 22:33 PM
Source: http://bernama.com/bernama/v5/newsgeneral.php?id=423084

KUALA LUMPUR, July 5 (Bernama) -- The contractor of the revived RM1.2 billion Plaza Rakyat project will be announced next month, said Federal Territories Minister Raja Nong Chik Raja Zainal Abidin.

He said the Federal Territories Ministry and the Kuala Lumpur City Hall (DBKL) had submitted the terms and conditions of the project to the Economic Planning Unit (EPU).

"We are awaiting the EPU's decision on the terms and conditions as the project will have to go through the privatisation process.

"The contractor, who wins the project, has three months to decide whether to accept it. Should the contractor reject the offer, a new one will be chosen," he told reporters after launching an awareness campaign of the influenza A (H1N1) at the Bangsar Night Market here Sunday.

He declined comments on the terms and conditions of the project which stalled since 1992.

Located near the Puduraya bus terminal, the project had changed hands several times.

The Plaza Rakyat project was supposed to comprise three buildings - a 79-storey, 49-storey and 21-storey - for offices, condominiums and a budget hotel.

-- BERNAMA
we shall see... we shall see... just merely a TALK again? i heard this project going to be build since i'm in kindergarten, now i'm in second year in university... they still TALK, TALK, and TALK...

even i am so fascinated on the plaza rakyat sophisticated architecture...
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Old August 2nd, 2009, 03:34 PM   #125
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Originally Posted by project aliciel View Post
we shall see... we shall see... just merely a TALK again? i heard this project going to be build since i'm in kindergarten, now i'm in second year in university... they still TALK, TALK, and TALK...

even i am so fascinated on the plaza rakyat sophisticated architecture...
Quote:
100 days at the helm
Monday July 13, 2009
By BAVANI M



AS Federal Territories Minister Senator Datuk Raja Nong Chik Raja Zainal Abidin approaches his 100 days in office, he spoke candidly of his experiences as the fifth FT Minister.

The relatively unknown corporate figure whose appointment surprised many shared some of his thoughts and visions with StarMetro and discussed his aspirations of turning Kuala Lumpur into a liveable city, his feelings when accused of being a sexist and how much he missed the simpler things in life.

StarMetro (SM): What about Plaza Rakyat?

RNC: The project will be revived. The EPU is now finalising the new terms and conditions with the developer who has been given a grace period to decide whether they want to take up the offer. If not, we will terminate the contract and call for fresh bids. It is 37% ready and there are some changes to be made, but the base will be the same. This project must go on or else it would be a waste.

SM: There are so many abandoned projects in KL. Shouldn’t the contractors or developers be liable for it?

RNC: Future projects will take into account the needs of the rakyat rather than the developer. However, people still ask why we (the Government) can’t take immediate action against bad developers. It’s not that easy. They have rights, too, and can sue. And, if they win, we will be forced to compensate them.

More news > http://thestar.com.my/metro/story.as...5&sec=central#
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Old October 11th, 2009, 10:15 PM   #126
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any updates? new pictures?
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Old October 12th, 2009, 05:36 PM   #127
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future development
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Old February 3rd, 2010, 03:01 PM   #128
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Plaza Rakyat contractor warned to start work soon
2010/01/31

KUALA LUMPUR, Sun: The government will issue a warning to the contractor of Plaza Rakyat, a project that has been abandoned for 12 years, to start work soon or lose the job.

Federal Territories and Urban Wellbeing Minister Datuk Raja Nong Chik Raja Zainal Abidin said: "In a week or two, we will be issuing a warning to the contractor to continue the project"

"If we don't see any development in two months, then the tender awarded to the contractor will be terminated and a new one will be called," he said after giving Chinese New Year goodies to senior citizens and the disabled in Lembah Pantai parliamentary constituency here today.

Global Upline Sdn Bhd had been awarded the Plaza Rakyat contract, a mixed development project comprising three buildings for office space, condominium and a budget hotel.

Plaza Rakyat which in Dec 1992 cost RM1.2 billion is a joint-venture project between Kuala Lumpur City Hall (DBKL) and Plaza Rakyat Sdn Bhd (PRSB).

Datuk Seri Najib Tun Razak had visited the abandoned project twice since taking over as prime minister in April 2009.

On compensation to tenants at Plaza Rakyat, Raja Nong Chik said the government was not involved as it was the responsibility of the project developer.

The minister also said the planned flyover at Bangsar Baru and Bangsar Park would not be built if residents in the area were against the project. -- BERNAMA
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Old March 19th, 2010, 01:25 PM   #129
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Originally Posted by nazrey View Post
[img]http://www.**************/show/2009/07/24/12/03/4565473_975x860.JPG[/img]
Plaza Rakyat!

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Last edited by nazrey; March 19th, 2010 at 02:50 PM.
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Old March 19th, 2010, 01:56 PM   #130
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i think they should redesign it...
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Old March 21st, 2010, 06:24 PM   #131
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i think they should redesign it...
agree...
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Old April 17th, 2010, 08:36 PM   #132
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Quote:
Originally Posted by nazrey View Post
Plaza Rakyat contractor warned to start work soon
2010/01/31

KUALA LUMPUR, Sun: The government will issue a warning to the contractor of Plaza Rakyat, a project that has been abandoned for 12 years, to start work soon or lose the job.

Federal Territories and Urban Wellbeing Minister Datuk Raja Nong Chik Raja Zainal Abidin said: "In a week or two, we will be issuing a warning to the contractor to continue the project"

"If we don't see any development in two months, then the tender awarded to the contractor will be terminated and a new one will be called," he said after giving Chinese New Year goodies to senior citizens and the disabled in Lembah Pantai parliamentary constituency here today.

Global Upline Sdn Bhd had been awarded the Plaza Rakyat contract, a mixed development project comprising three buildings for office space, condominium and a budget hotel.

Plaza Rakyat which in Dec 1992 cost RM1.2 billion is a joint-venture project between Kuala Lumpur City Hall (DBKL) and Plaza Rakyat Sdn Bhd (PRSB).

Datuk Seri Najib Tun Razak had visited the abandoned project twice since taking over as prime minister in April 2009.

On compensation to tenants at Plaza Rakyat, Raja Nong Chik said the government was not involved as it was the responsibility of the project developer.

The minister also said the planned flyover at Bangsar Baru and Bangsar Park would not be built if residents in the area were against the project. -- BERNAMA
Is already two month after gov warning. anything happen on site?
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Old November 6th, 2010, 03:26 AM   #133
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Plaza Rakyat developer asks for RM1bil in costs, damages
2010/11/05 By Nuradzimmah Daim
http://www.nst.com.my/nst/articles/0...yat02/Article/



The Plaza Rakyat project was to have cost RM70 million to build.
— File pic by Mokhsin Abidin


KUALA LUMPUR: The original developer of the abandoned Plaza Rakyat project is asking for RM1 billion in compensation from the government.

Federal Territories and Urban Wellbeing Minister Datuk Raja Nong Chik Raja Zainal Abidin said, among others, the claims were for construction costs and damages.

"I was told about the claims and City Hall is now in the midst of ironing out the details with the developer, Global Upline Sdn Bhd.

"I have told them to settle this with the developer within a year so that we can get a new developer to resume work on the project."

He said the authorities had received proposals from developers keen to take over the project.

"But we can't open the tender until we settle all legal issues with the original developer," Raja Nong Chik said after presenting letters of offer for the Kampung Muhibbah flats to 19 Kampung Chetty squatter families in Jalan Klang Lama.

It was reported that the government had terminated the deal with the developer of the RM1.2 billion Plaza Rakyat in Kuala Lumpur after failed negotiations and an overshot deadline to revive the project.

The new developer will be appointed by the Economic Planning Unit through an open tender.

The Plaza Rakyat project, located next to the Puduraya bus station, was to have cost RM70 million to build.

It was left half-completed 15 years ago when the developer ran into financial difficulties.

It was to be a mixed commercial development comprising a 79-storey office tower, 45-storey hotel, a serviced apartment building and a shopping centre.

Those who had bought lots there had urged the government to expedite the project's revival as they had suffered immense losses since the project stalled.
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Old September 15th, 2012, 10:01 AM   #134
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the design is hideous!!!!!!!
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Old September 15th, 2012, 12:44 PM   #135
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not sure why this got bumped, but i kinda like that design, the render is just bad, but it could looks quite cool i think. but after 2 years of no news i don't think this is a deal anymore anyway
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Old September 15th, 2012, 01:17 PM   #136
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Why was this bumped? I got so excited for a second thinking that there was finally some news on the site, i.e. a new design or something... I actually used to properly hate this design, but seeing that skyline render this might actually suit the KL skyline.
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Old May 21st, 2013, 01:05 PM   #137
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Revival of abandoned RM1.4bil 79-storey Plaza Rakyat near Pudu bus terminal
Posted on May 21, 2013- Featured, Property News.

By CHOONG EN HAN | [email protected]


The abandoned Plaza Rakyat construction site along Jalan Pudu in KL. Sarawak-based tycoon Tan Sri Ting Pek Khiing (pic inset) — BRIAN MOH/ The Star

PETALING JAYA: Interested parties can now submit their proposals for the rehabilitation of the long abandoned Plaza Rakyat project located along Jalan Pudu and beside the Pudu bus terminal in Kuala Lumpur.

The receiver and manager of Plaza Rakyat Sdn Bhd, Adamprimus, has placed an advertisement in several publications calling for parties with proven track records in integrated property development and strong financial background to “express their interest” by submitting proposals for the project, which was abandoned in the aftermath of the Asian financial crisis of 1997/1998.

The project, spread over 15.3 acres of prime land in the city centre, was first mooted in 1995 by Wembley Industries Holdings Bhd, a company linked to Sarawak-based tycoon Tan Sri Ting Pek Khiing (pic inset), in collaboration with Kuala Lumpur City Hall.

Plaza Rakyat, which was planned almost at the same time as the iconic Suria KLCC project, was then envisioned as an RM1.4bil multi-modal transport terminus and commercial and residential project in the heart of the capital.

The original plans comprised a 79-storey office tower, 46-storey condominium, 24-storey hotel and 7-storey shopping centre.

Zerin Properties chief executive officer Previndran Singhe told StarBiz that the project was supposed to transform the area as a transportation hub with hotel and mall elements. The only reminder of the hub is the Plaza Rakyat LRT station.



“Generally, when receivers and managers come into the picture, they would be looking to secure and realise the assets of the said company in order to manage the affairs of the company to discharge the debts owning,” Previndran said.

A quick Internet search by StarBiz revealed almost nothing of Adamprimus, with its website address directing to a non-functioning site. There were also no other information on the Internet about the company, a restructuring and reorganisation specialist, according to the advertisement.

This would not be the first attempt to revive the project as efforts were made in 2003 by a Ting-related company, Global Upline Sdn Bhd, which was appointed as the turnkey contractor, taking over from Daewoo Corp, the original contractor who had completed about 30% of the project.

However, Global Upline withdrew from the job as it could not accept certain undisclosed conditions. Ting remains chief adviser of Global Upline.

Since then, the project has gone through a merry-go-round of contractors, as after Global Upline withdrew, it was awarded to PJ Indah Sdn Bhd, a unit of PJ Indah Holdings Bhd, now known as PJI Holdings Bhd and a property-cum-construction outfit but the contract was mutually terminated.

It was then awarded to Jetwork Engineering Sdn Bhd in 2005 but ended back up with Global Upline in 2007 with plans to complete the project in five years but nothing has moved since then.

Global Upline did not come up with a plan to revive the project even after it was given an ultimatum by the Government in 2009, who also threatened to hand the project to another developer.

When the Government eventually terminated the contract for the development on the 6.322 million sq ft leased from City Hall for 88 years, a court injunction ensued with Global Upline seeking RM1bil in compensation.
http://www.starproperty.my/index.php...u-bus-terminal
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Old May 21st, 2013, 01:05 PM   #138
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Revival plans for Plaza Rakyat



PROGRESS: Adamprimus, a chartered accountants firm, is looking for experienced and financially strong parties to take over the long-abandoned project


KUALA LUMPUR: PLANS to engage a suitable developer to revive the long-abandoned Plaza Rakyat project is underway.


Adamprimus, an independent firm of chartered accountants specialising in restructuring and reorganisation services, has been appointed as Receiver and Manager (RAM) of Plaza Rakyat Sdn Bhd.



It has been tasked to look for a suitable party who is experienced in integrated property development to take over the project.


Adamprimus has advertised for interested parties to submit their proposal for the rehabilitation, completion, take over or acquisition of the Plaza Rakyat project.


Plaza Rakyat is located on 6ha of prime land in Jalan Pudu next to the Pudu Sentral bus station.


The project has been abandoned for more than 15 years due to financial constraints of its earlier developer.


The advertisement had described the project as "an incomplete development project proposed to encompass a comprehensive and integrated residential, commercial and transportation hub; consisting of a shopping mall, hotels, service apartments and office towers".


A spokesman for Adamprimus said that they were appointed as the RAM of Plaza Rakyat Sdn Bhd on Feb 18 this year to manage the project.


"This investment opportunity is open to the market and Plaza Rakyat Sdn Bhd is looking for experienced, capable and financially strong parties to submit their proposals for the project.


"The response from the interested parties has been very good. The submission for proposals will end in October and we will soon select a suitable candidate depending on the proposal," she said.


The spokesman also said that Plaza Rakyat Sdn Bhd and City Hall will be consulted on the selection process.


"City Hall is the registered proprietor of the leasehold land where the project is located.


"Plaza Rakyat Sdn Bhd was granted a sub-lease for the purpose of developing the project," the spokesman said.


As for the 211 purchasers, who had bought lots at Plaza Rakyat, Adamprimus said it would take into consideration the interest of all stakeholders.


Those interested in the Request for Proposal (RFP) issued by Plaza Rakyat Sdn Bhd may contact Adamprimus, subject to the execution of a confidentiality agreement and payment of a non-refundable charge of RM5,000.



More: http://www.nst.com.my/streets/centra...#ixzz2TsrLA9kj
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Old May 21st, 2013, 01:06 PM   #139
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Plaza Rakyat seeks white knight



By Kamarul Azhar
Tuesday, 21 May 2013 12:27 Bookmark and Share


KUALA LUMPUR: The long abandoned multi-billion ringgit mixed development project, Plaza Rakyat in Pudu, is once again up for sale. The 6.2ha project is one of the scars left by the Asian financial crisis in 1997.

More than 15 years after the project was grounded, the court appointed receiver and manager to the now defunct Plaza Rakyat Sdn Bhd (PRSB), AdamPrimus, has called for interested parties to submit proposals for the rehabilitation of the project.

“Interested parties with proven track record and strong financial background are invited to submit their proposal for the rehabilitation, completion, takeover and/or acquisition of Project Plaza Rakyat,” AdamPrimus said in a notice that appeared in a local newspaper yesterday.

The Plaza Rakyat project was planned as a mixed development comprising shopping mall, hotel, serviced apartments and office tower with a gross development value (GDV) of approximately RM1.3 billion back in 1993. The project was slated to be completed by 2000.

Now property projects in the area are going for as high as RM1,200 per sq ft as property values in the city have appreciated substantially. This is based on Gamuda Land Sdn Bhd’s mixed development project called The Robertson, situated next to the Plaza Rakyat site. The serviced apartment’s indicative price is RM1,200 psf. Gamuda Land bought the land at RM820 psf in 2010.

Plaza Rakyat was supposed to be integrated with the near by Pudu Raya bus station to create a public transport hub, which includes the Plaza Rakyat LRT station.

However, the Asian financial crisis in 1997 brought the project, which was ultimately controlled by Wembley Industries Holdings Bhd, to a halt.

The substantial shareholder of Wembley Tan Sri Ting Pek Khiing, found himself saddled with a huge debt burden as the ringgit depreciated against the dollar. Ting’s flagship entity Ekran Bhd faced a multitude of problems after the government put on hold the construction of one of the largest hydroelectric dams in Asia, the Bakun Dam. The project was later awarded to Sime Darby Bhd after an open tender.

While the five contiguous plots are among the last large development tracts in the middle of the city, property experts say it might not be an appealing job for a property developer to take on, given the complexity of legal and technical aspects.

The project was abandoned in 1997 after the completion of the foundations and a six-storey basement car park.

According to James Wong, the managing director of VPC Alliance (Malaysia) Sdn Bhd, a valuation surveyor, the viability of rehabilitating Plaza Rakyat hinges on the validity of the joint venture agreement between PRSB and Dewan Bandaraya Kuala Lumpur (DBKL), the concept and scale of the project, the rights of the purchasers and other issues.

“It is not an easy project to take over. The previous developer pumped so much money into the project. It is unknown whether the new developer will have to compensate the ... previous developer,” said Wong.

In 2010, DBKL terminated the joint venture to develop Plaza Rakyat and gave PRSB notice of its intention to take possession of the land due to the delays.

However, PRSB brought the matter to arbitration. It followed with an application to the High Court of Malaya for an interim injunction preventing City Hall from repossessing the land subject to the resolution through arbitration. The injunction was granted in November 2011. The latest developments on the arbitration between PRSB and DBKL are not known.

The new developer might also have to work with the original plan, as the foundations and car park have been completed. This might restrict the new developer from maximising the value of the project within the context of today’s property market, said Wong.

While the prospect of netting big for developing huge tracts of prime land within the city could encourage developers to submit their proposals, Wong believes the complicated legal and technical aspects must be solved first.




http://www.theedgeproperty.com/news-a-views/11122.html
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Old May 25th, 2013, 12:50 PM   #140
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24-5-2013
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Plaza Rakyat - pending revival of a mixed development project including a 328m, 79-storey tower

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