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Monday, November 30, 2009

Bina Puri in talks on RM200m KK waterfront mall, condo project

Construction firm Bina Puri Holdings Bhd is eyeing a contract worth around RM200 million to construct a retail mall and condominium at the Kota Kinabalu City Waterfront (KKCW) in Sabah.

The four-storey mall will feature a waterfront lifestyle, with a "single-spine" concept incorporating high-end retailers, while the condominium will have designer suites.

Bina Puri Construction Sdn Bhd (BPCSB) managing director Datuk Henry Tee Hock Hin said it is negotiating the contract with the developer, Waterfront Urban Development (WUD) Sdn Bhd.

"Talks are still on-going. We are ironing out some details with WUD," Tee told Business Times in an interview in Kota Kinabalu.

The RM500 million KKCW project, with a promenade centred on the culture of al-fresco and fine-dining, is a mixed commercial development comprising the mall and condominium, and a five-star international hotel.

The whole development, which is a joint venture between WUD and the Kota Kinabalu City Hall, is expected to be completed by the first quarter of 2011.

Tee said BPCSB has an existing contract with WUD worth RM30 million to lay the foundation for phase one of the development.

He added that the company is also eyeing another contract to build a mall for around RM100 million in Kuching, Sarawak.

Tee declined to elaborate on the project, but added that BPCSB has a contract worth around RM60 million from the client to lay the foundation for the mall.

Meanwhile, BPCSB is eyeing several projects in Sabah and Sarawak under the Ninth Malaysia Plan. These include hospital projects, roads, highways and private housing.

"For private housing, we are looking mainly at constructing high-end condos for developers. That is our niche area," Tee said.

BPCSB has several on-going projects in Sabah and Sarawak exceeding RM700 million.

It is constructing phases 1 and 2 of Universiti Malaysia Sabah for RM150 million, and low-cost houses for Syarikat Perumahan Negara Bhd worth around RM400 million.

BPCSB also recently completed the construction of the new State Assembly Hall in Kuching for RM300 million.

By Business Times (by Sharen Kaur)

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