RM70m facelift for Bangsar Shopping Centre

MAKEOVER: Mohamed Moiz (left) and BRDB general manager (asset and property management) Datuk Mohan R.Karthlgasu with a model of the new BSC

Developer Bandar Raya Developments wants Bangsar Shopping Centre to be a new iconic property in the Bangsar enclave

BANDAR Raya Developments Bhd (BRDB) will spend at least RM250 million to upgrade Bangsar Shopping Centre and build an office tower next to the mall.

This is BRDB's first major refurbishment plan for BSC since it opened its doors in 1990. Work started early this year and is set to be done by the end of 2009.

Chairman Datuk Mohamed Moiz Ali Moiz told Business Times that RM70 million is for an extreme makeover for BSC.

The rest is to build a 12-storey office tower next to the mall together with a four-storey retail annex to the rear of BSC.

The developer, which has been developing properties in the Bangsar Baru and Bukit Bandaraya areas since 1964, will use its own funds and borrowings for the plan.

The rest is to build a 12-storey office tower next to the mall together with a four-storey retail annex to the rear of BSC.

The developer, which has been developing properties in the Bangsar Baru and Bukit Bandaraya areas since 1964, will use its own funds and borrowings for the plan.

BRDB's net profit for the year to December 31 2007 surged 18-fold to RM70.6 million due to robust demand for its properties. Revenue rose 18 per cent to RM662.8 million.

Mohamed Moiz said the "new" BSC will support BRDB's completed developments in the neighbourhood, including the ongoing One Menerung residential project located nearby.

One Menerung comprises five blocks of low-rise luxury condominiums and each unit is priced from RM2.7 million to as much as RM5.2 million each.

"We want BSC to be a new iconic property in the Bangsar enclave. By end-2009, we will have a bigger cluster of shopping, lifestyle and community in one area," Mohamed Moiz said at a media briefing on the plan at BSC yesterday

By New Straits Times - Business Times - (by Sharen Kaur)