Tuesday, April 5, 2011

UEMLand ... Apr11

Three foreign players among the 10 companies are short listed by the master developer
UDA for the JV deals for the redevelopment of the Pudu Jail site in KL.

It is learn that Dubai based Dama Group is proposing to team up with UEM Land, while the state owned China State Construction Engineering Corp has tied up with Kumpulan Jetson.

Singapore’s Keppel Land Ltd is also said to have submitted proposals for the integrated mixed development project, tentatively named the Bukit Bintang Commercial Centre. Sources say UDA has also short listed seven local companies – Bolton Bhd, Bina Puri, IJM Land, MRCB, Sunway Group, YTL Land and the Naza Group.

Front runners for the JV opportunities in BBCC are said to be Bolton and the UEM Land-Damac and Jetson-China Construction JVs.

The 20ha tract for BBC will be divided into six plots, and will be built in phases over 10 years.

UDA chairman Datuk Nut Jazlan said that the winners of the JV bids will be announced by end March 2011 after each company presents its proposals to UDA’s board on Feb 2011.

The development of BBCC could see the JC partners jointly develop portions of the project or construct buildings on various plots. This means that jobs could be given to several parties among those shorlisted.

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