Malaysia: BBCC Development Sdn Bhd will launch the second block of serviced apartments at Bukit Bintang City Centre (BBCC) in Q3 2017.
The development will consist of 270 units with a total gross development value (GDV) of around RM300 million, according to BBCC Development CEO Datuk Richard Ong.
Since its official launch in December last year, the 393-unit first block of serviced apartments, called Lucentia Residences, has seen around 70 per cent of units sold to investors. Also lauched were 341 strata office units called The Stride, which are around 30 per cent sold.
Ong said: “After our joint venture with Mitsui Fudosan Asia to build and operate the mall, we are seeing more international companies and groups seeking to participate in other components, such as hotels, serviced apartments and offices,” he said.
A ground-breaking ceremony for the project was attended by Malaysian prime minister Datuk Seri Najib Razak, who said: “BBCC is an example of the key projects that support the government Economic Transformation Programme for Greater KL and the Klang Valley. Within a few years – by 2020, in fact – this site is going to be transformed into a world-class integrated development.”
BBCC is expected to be completed by December 2020. It will have a total built area of 6.7 million square feet with a GDV of RM8.7 billion.</p
