BBCC : Construction work started, 2021 for mall.

Bukit Bintang City Centre (BBCC) is definitely a huge development within a hot location. Okay, it was a former prison ground. That’s going to be the past and when it’s completed, after a while, the newer generation would not even remember or note that it was formerly a prison. BBCC has a gross development value of RM8.7 billion and it sits on a 19.4-acre land. Total gross build-up area is 6.7million sq ft. Today, many articles were talking about the groundbreaking ceremony. Here’s one of it in NST. It detailed the developments within BBCC. Phase 1 will be completed by 2020. It includes a retail mall, a 4-star hotel, an entertainment hub, serviced apartments, hotels, strata offices and an 80-storey 3-in-1 signature tower housing corporate offices, a 5-star hotel and luxury residences.

Always note that developers can build malls but only experienced mall operators would have a higher chance of success. This is especially when there is an oversupply of malls within the Klang Valley. There are some bleak predictions too actually except for the survivors. Malls? 50 percent (tough),20 percent (sloe) and 100 percent up (survivors)  The mall is going to be operated by a joint venture company between BBCC and Mitsui Fudosan. It will own and operate the estimated RM1.6 billion retail mall at BBCC, with Mitsui Fudosan Asia owning 50 per cent of the shares and the rest owned by UDA Holdings Bhd, Eco World Development Group Bhd and the Employees Provident Fund Board. Who is Mitsui Fudosan yeah? Lalaport mall from Japan in Bukit Bintang City Centre by 2021 They are not a new company to Malaysia and I think as long as they have a good concept, it will do well.

Connectivity wise, it has these. It will have direct access to the Hang Tuah Station on the LRT and KL Monorail lines. A 5-minute walk would enable one to reach the Merdeka Station on the MRT Sungai Buloh-Kajang (SBK) Line. It should be operational next month. Take MRT yeah. Save more than driving and parking There will be approximately 300 stores in this mall. For even more readings on Mitsui Fudosan’s plans, read here. Based on my office, I think a visit to this mall is most likely, perhaps on a Friday when I have a longer lunch break. The only issue? It will only open in 2021. 🙂  Perhaps by then I should take the MRT from my home instead. 🙂  Oh yeah, if we are a contributor to the Employees Provident Fund (EPF), let’s support this development as the profits would form a small part of the dividends to EPF members. EPF owns part of this development.

written on 21 June 2017

Next suggested article: EPF: Investing direct, 5.7 pct dividend versus 6.4 pct in 2015

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