A friend asked me about Bukit Bintang City Centre (BBCC). Yes, he is skeptical. I asked him if he is thinking of buying a unit. He said no because he does not think this project would be successful. I told him that it’s good that he has a different opinion than me because then if I have enough money to buy one unit, he would not be ‘fighting’ with me. He laughed and said that he does not think many people can afford to buy one unit anyway. BBCC is a redevelopment project of the former Pudu Jail into a RM8 Billion GDV project. Total number of years for the full development is 8 years.
Actually, my friend does have his points. The major reason is because the area is considered popular but this also meant that competition is likely to be stiff unless of course the number of visitors to the area increases to a much higher number when the project is completed. Of course my argument would be that this is a plus to the whole area because if I think of visiting some popular malls, I would rather go to places where I can visit more than one mall at one go. Accessibility is good as there is the Hang Tuah LRT station and monorail station which will be integrated with the proposed development site. Besides these, a proposed MRT station will be built about 500 metres away. The project will be built via a Special Purpose Vehicle (SPV). EcoWorld, UDA and EPF would hold 40%, 40% and 20% respectively.
There is no delay. The BBCC project will start in the second quarter of this year. It will have an entertainment block, office towers, a hotel and serviced residences. I think the launch has better be timed appropriately because during unsuitable time, the negatives are likely to be viewed more strongly than the advantages that it may present. If the launch was not successful enough, it will slow down take up tremendously. Yes, the brand name of Eco World would help but this is not a small project and it needs more than just one brand. I personally think this is a good project to have compared to the old prison but I seriously think the developers should be cautiously optimistic and not overly confident. If I am wrong, great for them. I do not wish to be right. Happy waiting for the launch if you are waiting to buy something from BBCC.
written on 6 Feb 2015
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