22 June 2014

UDA: Work at Kampung Baru gathering pace

  22 June 2014


KUALA LUMPUR: Work at the multi-billion ringgit redevelopment of the 113-year old Kampung Baru in Kuala Lumpur is picking up, says UDA Holdings Bhd chairman Datuk Johari Abdul Ghani.
He said UDA and other stakeholders are in talks with small landowners to make way for the development.
Johari said it is not easy to develop Kampung Baru due to its multiple ownership and scattered small individual land titles.
“There are more than 5,000 landowners in Kampung Baru. If we can buy between 8,000 and 10,000 sq ft and combine that to get 0.4ha to 0.6ha, we will launch Phase 2. We will continue the process for Phase 3 and onwards.
“The entire Kampung Baru area has around 92ha. It is a long process (to acquire small plots of land), but we are confident of the progress,” he said.
Johari was speaking to Business Times on Saturday after presenting a cheque to Masjid Jamek Kampung Baru, and around RM30,000 cash and 5,400 packets of bubur lambuk to 300 orphans.
Government-owned UDA is confident of playing a prominent role in developing Kampung Baru, whose plans had stalled since the incorporation of Kampung Baru Development Corp (KBDC) in 2012.
KBDC was set up as a mediator between landowners and potential investors in developing the area. However, problems arose when rumours surfaced that it buys the land for its own gain.
UDA Holdings, the catalytic developer for the redevelopment, is talking to Kuala Lumpur City Hall and the Federal Territories Ministry to help develop a portion of the City Hall-owned land.
It recently acquired 1.15ha near Pasar Minggu from City Hall for about RM38 million, which includes RM17.4 million compensation to 204 traders operating in the area.
UDA will develop Legasi Residen Kampong Bharu, which is Phase 1 of the Kampung Baru redevelopment, on the 1.15ha land.
It will feature 639 units of condominiums and 96 retail lots with a gross development value of RM435 million.
“It is a three year project and we will be selling the condominiums for between RM288,000 and RM500,000. The retail lots will be either sold, or leased to traders,” he said.
~ By BUSINESS TIMES

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