KUALA LUMPUR: Construction works for the much-anticipated Bukit Bintang City Centre (BBCC) and Mitsui Shopping Park LaLaport KL have kicked off, making the development a step closer to becoming KL's new lifestyle and architectural icon.
The groundbreaking ceremony was officiated by Prime Minister Datuk Seri Najib Razak earlier today.
Najib said the project is another example of the Economic Transformation Programme (ETP) bearing fruit in attracting foreign investments, as companies grow and expand.
"I am pleased that BBCC has managed to attract the participation of global players like Mitsui Fudosan Co Limited, the leading real estate group from Japan, to invest in what will be BBCC's RM1.6 billion retail mall.
"This year also marks the 60th anniversary of diplomatic relations, as well as strong trade and investment relations, between Malaysia and Japan.
"Last year, Japan was ranked Malaysia's fourth largest trading partner with bilateral trade amounting to RM120 billion, and we believe there is huge potential for our bilateral economic relations to prosper," Najib said during his address at the groundbreaking ceremony.
BBCC sits on 19.4 acres of land with a total gross build-up area of 6.7 million sq ft and a Gross Development Value (GDV) of RM8.7 billion.
The integrated development comprises a retail mall, a 4-star hotel, an entertainment hub, serviced apartments, hotels, strata offices and an 80-storey 3-in-1 signature tower housing corporate offices, a 5-star hotel and luxury residences.
In October last year, BBCC entered into a joint-venture with Mitsui Fudosan Asia for the establishment, ownership, management and operation of a joint-venture company.
MFBBCC Retail Mall Sdn Bhd will own and operate the estimated RM1.6 billion retail mall at BBCC, with Mitsui Fudosan Asia owning 50 per cent of the shares and the rest owned by UDA Holdings Bhd, Eco World Development Group Bhd and the Employees Provident Fund Board.