BBCC inks JV with Mitsui for RM1.6b KL mall
KUALA LUMPUR: Mitsui Shopping Park Lalaport, the joint venture (JV) project between BBCC Development Bhd and Japan-based Mitsui Fudosan (Asia) Pte Ltd, is expected to start operations at the Bukit Bintang City Centre (BBCC) by end2020 or early 2021.
CEO Datuk Richard Ong said work on the RM1.6 billion retail mall will start in January 2017 and take four and half years to complete.
He added, the mall with a built up area of 1.4 million sq ft would be a hybrid, combining an indoor shopping mall and an outdoor lifestyle street featuring high-end brands, restaurants and cafes.
“The mall will have 350 stores. Mitsui Asia will bring a very unique concept, and with it, the aspiration of having something different in terms of design service quality, maintenance and uniqueness.
“We will bring a lot of new brands from Japan, the Far East and other international labels,” he told reporters after the signing of definitive agreements with Mitsui Fudosan Asia here yesterday.
Also present were UDA Holdings Bhd chairman Datuk Dr Mohd Shafei Abdullah, Eco World Development Group Bhd chairman Tan Sri Liew Kee Sin and Mitsui Fudosan Asia deputy managing director and chief regional officer (Malaysia) Takehito Fukui.
The agreements involve the establishment, ownership, management and operation of a JV company that will own and operate the estimated RM1.6 billion mall.
Ong said three tunnels from Changkat Thambi Dollah, Jalan Galloway and Jalan Hang Tuah will be built to connect roads to the underground parking featuring over 2,400 parking bays. – Bernama