A subsidiary of Ikhmas Jaya Group has been appointed to carry out the substructure works for the RM8.7 billion Bukit Bintang City Centre (BBCC) project at Jalan Pudu in Kuala Lumpur, reported The Star.
According to a filing with the local stock exchange, the total contract value of Substructure Package B1 (Parcel 2 & 3) amounts to RM188.58 million, excluding the six percent Goods and Services Tax (GST).
The contract will consist of piling, earthworks, laying reinforced concrete, and diaphragm wall construction. The job is scheduled to start on Thursday (8 June) and is expected to take two years to complete.
In particular, Parcel 2 of the BBCC project involves the construction of a 27-storey hotel with 359 rooms, a 43-storey office tower, an eight-level entertainment podium and a five-storey carpark.
Among others, Parcel 3 comprises two blocks of serviced apartments and two car parks at six and eight storeys high.
Moreover, the work package is anticipated to increase Ikhmas Jaya’s earnings and net assets in 2017 and over the next two years.
“We are honoured to be given the opportunity to be a part of this prestigious project, which is jointly owned by Eco World Development Group Bhd, UDA Holdings Bhd and the Employees Provident Fund (EPF),” Ikhmas Jaya Group Managing Director Datuk Ang Cheng Siong.
The work contract was awarded by BBCC Development, a special-purpose vehicle (SPV) jointly owned by UDA Holdings, Eco World and the EPF on a 40:40:20 basis.
BBCC Development is undertaking the 19.4acre Bukit Bintang City Centre project, which involves the redevelopment of the former Pudu Prison site over eight to ten years.
Image sourced from The Star
Among the developments that will be built in and around BBCC are:
1. Lucentia Residences, Bukit Bintang City Center
2. The Robertson Residence, Jalan Pudu
Radin Ghazali, Content Writer at PropertyGuru, edited this story. To contact her about this or other stories email radin@propertyguru.com.my
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