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Thursday, February 24, 2011

Uda to invest RM200m in mall project

JOHOR BARU: Uda Holdings Bhd will invest between RM200mil and RM250mil to develop Angsana II commercial project, adjacent to its existing Plaza Angsana shopping complex here.

Chairman Datuk Nur Jazlan Mohamed said the project was in planning stage and construction was slated to begin by year-end.

“We are looking at a joint-venture basis and will be inviting interested parties to submit their proposals,'' he told StarBiz on Monday after witnessing the signing of service agreement between Telekom Malaysia Bhd (TM) and United Malayan Land Bhd's wholly-owned subsidiary Seri Alam Properties Sdn Bhd.

He said Uda was looking at developing the project on a joint-venture basis with land owners.

The proposed Angsana II commercial project will be the first shopping complex which incorporates a street-mall concept in Johor Baru.

On the Johor Baru city transformation, Uda had been “informally invited” to participate in the project, said Nur Jazlan, adding that the company was keen on it.

On another development, he said Uda had shortlisted 10 out of 14 local and foreign companies which had submitted their proposals to redevelop the former site of Pudu jail into an integrated property development project on a joint-venture basis.

“They are going to present their proposals before the board of directors this month, “ Nur Jazlan said, adding that names of the winners would be announced by the end of March.

By The Star

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