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Rejuvenate and enhance Bukit Jalil, get three pieces of land

Bukit Jalil Sports Complex has been around since the day I started working after my first degree. That’s 17 years ago. It will now be redeveloped by Malaysian Resources Corporation Bhd (MRCB) into Kuala Lumpur Sports City. It said that this will be a vibrant sports hub which will not only be accessible to athletes but also the local community, recreational users and the public. MRCB said that this will be a regeneration of the Bukit Jalil Sports Complex and this development will be self-financed. The project was awarded to MRCB subsidiary Rukun Juang Sdn Bhd (RJSB) on a land-swap structure.
RJSB would ensure a few things in order to get three parcels of land in the vicinity of the Bukit Jalil Sports Complex measuring 10.9ha, 6.8ha and 16ha. RJSB also has to offer additional money which was five per cent premium to current valuations. Then, it has to ensure the Bukit Jalil National Stadium is ready to host the 2017 Southeast Asia (SEA) Games. During the same time, RJSB will also carry out works on Putra Stadium, the National Aquatic Centre and the National Hockey Stadium. It will also be improving the integration of the transportation links and increase pedestrian access across the site. In brief, ensuring the place becomes even more vibrant than today.
After the Phase 1, RJSB would then start more works after the 2017 Sea Games. They include Phase 2 will kick off from January 2018 to December 2020, costing RM1.1 billion. Main works include adding a retractable roof, retractable seats, comfort ventilation and track resurfacing to the National Stadium. Other components of the sports city include a mid-scale convention centre, integrated rehab science centre, youth park, sports museum and library, youth hostel, sports mall/retail shops and related building infrastructure. Populous is the designer for the entire project. It is an international stadium specialist who has worked on over 2,000 projects worth US$30 billion and the projects they have worked on include the London Olympic Stadium and Park, Incheon Asian Games 2012 stadium, Wembley Stadium and New York Yankee Stadium. The last one is a famous baseball stadium.
ethnic bjIn terms of what to do with the three parcels of lands, Imran said that MRCB has yet to decide. It will depend on the market conditions at the time. I personally think sports facilities would always need rejuvenation from time to time and we really need to encourage more of the obese Malaysians to be active in sports. As for the plan for the three parcels of land, it’s best to decide later. Tonight, when I was attending the Malaysia Property Awards, everyone I spoke to said that the current market situation may persist for yet many more months. Fortunately none said for many more years! Oh yeah, want to know a bit about Bukit Jalil? Do refer to what propsocial.my has compiled for everyone. Happy sporting and in the near future, to visit the new Bukit Jalil Sports Complex.
written on 5 Nov 2015
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Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of kopiandproperty.com He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. kopiandproperty.com is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.

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