UDA to review plan to divide BBCC site

KUALA LUMPUR: UDA Holdings Bhd will be reviewing the proposal by Ministry of Finance (MoF) to divide the former Pudu Jail site, better known as Bukit Bintang City Centre (BBCC) into three plots, to ensure the value of the land can be maximised.

UDA chairman Datuk Nur Jaz-lan Mohamed said the study is being conducted by a special committee chaired by a board member before it is presented to MoF for consideration.

He said the development of the 20 acres has to be made carefully and without haste because UDA's survival and almost 1,400 of its employees depends on its successful implementation.

"For UDA, this development marks the continuation of the company's survival for the future, and the board of directors has agreed that any form of development needs to prioritise UDA's interest first," Nur Jazlan said in a statement yesterday.

It was reported that the MoF had asked UDA to divide the former Pudu Jail land into three plots with two being given to Bumiputera companies and the remainder to a non-Bumi entity.

The directive was issued after the MoF did not consider UDA's proposal to appoint a China government-linked company, Everbright International Construction Engineering Corporation, as its joint venture partner for the land.

By Business Times