THE Bukit Bintang City Centre (BBCC) project, launched in 2016 and earmarked for full completion in 2025, has started Parcel 2 of the development.
Parcel 2 involves the construction of a 43-storey office tower and an entertainment centre.
The entertainment centre will contain retail space, cineplex, banquet hall, main lobby, music presentation centre, parking facilities and two floors of mezzanine hotel facilities.
Bukit Bintang City Centre Development Sdn Bhd (BBCCD), the project developer, has awarded a RM322 million construction contract to Putra Perdana Construction Sdn Bhd for Parcel 2’s main building works.
Parcel 2 is situated on a 0.97ha site in the 7.68ha (former Pudu Jail site) BBCC development.
Construction for Parcel 2 started this week and the target completion date is August 1 2020.
BBCCD is a joint venture between Eco World Development Group Bhd (40 per cent stake), UDA Holdings Bhd (40 per cent) and the Employees Provident Fund (20 per cent).
The BBCC project has a total gross built-up area of 6.7 million sq ft with a gross development value (GDV) of RM8.7 billion.
The project will also feature a retail mall, five blocks of serviced apartments and hotels. The crown jewel is an 80-storey signature tower housing corporate offices, a five-star hotel and luxury residences.
BBCCD has so far launched serviced apartments in the BBCC, namely Lucentia 1 and Lucentia 2, with 666 units (ranging from 450 to 880 sq ft), as well as strata offices.
Prices averaged RM1,650 per sq ft (psf) for the first 47-storey building with 393 units. For the 36-storey building with 273 units, the prices averaged at RM1,750 psf.
The Lucentia series is expected to be completed by the first quarter of 2021.
BBCCD has inked an agreement with Japan’s Mitsui Fudosan Asia to jointly establish, own, manage and operate the RM1.6 billion retail mall (LaLaport KL retail mall).
It was reported that negotiations are ongoing with hotel operators as well as en bloc investors to take up other components in the BBCC.