A consortium comprising Uda Holdings, Employees Provide Fund (EPF) and Eco World will develop the RM8 billion Bukit Bintang City Centre, establishing a new landmark in Kuala Lumpur city centre.
The project will feature reidential and commercial towers, a 1 million sq ft mall similar to Mid-Valley Megamall, KLCC Suria and Pavilion, a retail centre, an entertainment hub with a music lab, a Malaysian grand bazzar, food strip.
Uda Holdings chairman Datuk Johari Abdul Ghani said the iconic structure will be a 88-storey signature tower in the likes of Burj Khalifa in Dubai. One third of the tower will feature strata title offices, and the rest will include up to 400 hotel rooms and condominiums.
UDA Holdings and Eco World will each have 40 per cent stakes in the consortium, while EPF will hold 20 per cent, similar to the structure of the Battersea redevelopment in London.
Source: News Straits Times
Published on: Tuesday, 24 June 2014