Eco World to begin construction on BBCC project in Q1 2016
Eco World Development Group Bhd expects to start construction on its RM8.7 billion Bukit Bintang City Centre (BBCC) project by Q1 2016, reported Bernama.
According to its CEO Datuk Chang Khim Wah, the company will prepare the pre-marketing for the project’s launch by the end of this year.
“We remain confident of achieving our RM3 billion sales target this year, due to the number of projects that we are doing in the township currently. We have the flexibility to have a broader marketing spectrum of products,” he says at the EGM.
“Whatever challenges thrown at us this year or next year, we are quite confident that the sales target would be met,” he adds.
With the development order obtained on 3rd July, the former Pudu Jail site was approved for a mixed-use development comprising apartments, serviced residences, an entertainment block, office tower, strata offices, two hotels and a retail mall.
Nestled on a 19.4acre site, the project will take about eight to 10 years to complete.
Meanwhile, Eco World shareholders approved the proposal to subscribe to BBCC Development Sdn Bhd’s two million new ordinary shares during the EGM. This represents a 40 percent stake in BBCC’s enlarged issued and paid-up share capital.
A special purpose vehicle, BBCC was jointly set up by Uda Holdings Bhd, Eco World and the Employees Provident Fund (EPF) to facilitate the development of the BBCC project.