SITE PLAN OF A RANDOM PROPOSAL ::: Proposed development on the exchanged land for the construction works at the National Sports Complex, Bukit Jalil.





MRCB gets RM1bil Bukit Jalil stadium job
The StarBiz | Wednesday, 1 July 2015
By: EUGENE MAHALINGAM
http://www.thestar.com.my/Business/Busines...-job/?style=biz

Sources said that the development of the land surrounding the stadium would be done after the refurbishment works have been completed.


PETALING JAYA: Malaysian Resources Corp Bhd (MRCB) is tipped to refurbish the various sports facilities at the National Sports Complex (NSC) in Bukit Jalil, including the 17-year-old Bukit Jalil Stadium, which is the main venue for sporting events in the country.

Sources said the refurbishment work could cost up to RM1bil and in return, MRCB would get parcels of land in the vicinity of the NSC for development if the proposal is approved.

Apart from the refurbishment of the various facilities, the job will also involve building a sports museum and hall of fame to commemorate sporting greats.

“MRCB has submitted the proposal to the Youth and Sports Ministry and is awaiting the results. It is for the refurbishment of a few stadiums,” said a source.

The buildings in the NSC include the Bukit Jalil National Stadium, Putra Stadium, National Hockey Stadium, National Aquatic Centre and National Squash Centre.

The UEM-Renong group built the facilities in the 90s for the Commonwealth Games in 1998. They have not seen much refurbishment since then.

Sources said that the development of the land surrounding the stadium would be done after the refurbishment works have been completed.

“The land MRCB would get in return for the refurbishment and building of new infrastructure would depend on the cost of the job. That will be the next phase of the project,” said the source.

A spokesperson from the Youth and Sports Ministry confirmed that plans to refurbish the stadiums in Bukit Jalil were in the pipeline.

The spokesperson, however, declined to reveal if the stadiums would be confined to just those within the NSC.

“We will reveal more information very soon,” the spokesperson said.

A property developer with a project in Bukit Jalil said that land was hard to come by, especially near the NSC.

“Not many parcels are for sale. It is strategic and has good access,” said the developer who declined to be named.

Among the companies with land bank in the area near the Bukit Jalil sports complex is Berjaya Land Bhd, which has developed a golf course with bungalows.

The bungalow parcels are going for about RM350 per sq ft.

One of the biggest developers in that area is Malton Bhd, which has 50 acres to be jointly developed with Ho Hup Construction Bhd. The plan is to build a large shopping mall called Pavilion 2.

There are several smaller developers that have launched apartment buildings that are being sold at more than RM600 per sq ft.

MRCB, after seeing a change in its management that is now headed by group managing director Tan Sri Mohamad Salim Fateh Din, has become one of the more aggressive property developers and infrastructure builders.

The strategy adopted by Salim is to emphasise on cash flow and enhance the group’s assets that are providing recurring income.

In this respect, it injected Platinum Sentral into Quill Capita Trust Bhd, a real estate investment trust (REIT) company, last year for shares and cash in a deal valued at RM740mil.

After that exercise, MRCB has become the single largest shareholder of the REIT that is now called MRCB-Quill REIT Bhd and it hopes to benefit from the steady dividend income.

MRCB also owns a highway in Johor called the Eastern Dispersal Link that leads to the Customs, Immigration and Quarantine Complex before connecting to the Causeway into Singapore.

MRCB announced last week that it had bagged three construction jobs worth RM485mil in Desaru Coast, Johor, from Destination Resorts and Hotel.

The projects involve a RM61.4mil conference centre, the 386-room Desa Desaru hotel valued at RM212mil and the 275-room Westin Desaru Resort worth RM211.6mil, said MRCB, adding that the construction period of the projects would be between 19 and 21 months.

According to a report, the more jobs are expected to be added to MRCB’s order book, as it is set to launch a mixed development with an estimated gross development value of between RM1.2bil and RM1.6bil next year.

The first phase of multi-billion-ringgit Desaru Coast features four premium resorts – Aman Country Club and Aman Villas, Datai Desaru, Sheraton Resort and Plantation Hotel.

The whole Desaru Coast development, stretching 17km over 3,900 acres, is estimated to take 15 to 20 years to complete.

For its first quarter ended March 31, MRCB’s net profit jumped to RM237.86mil from RM11.99mil in the previous corresponding period, while revenue jumped to RM404.19mil from RM204.65mil previously.

The improved earnings was due to higher revenue contribution by all the business units.

This post has been edited by accetera: May 31 2017, 11:31 PM

Any news on what those buildings are? Offices? Residential? Hospital?

Jaya jaya bukit jalil! Onwards to 1000 psf!

@accetera, i'm more keen to know which project of this?

According to a report, the more jobs are expected to be added to MRCB’s order book, as it is set to launch a mixed development with an estimated gross development value of between RM1.2bil and RM1.6bil next year.

they built it at a cost of 800m..mrcb will refurbished it for 1b?..am i missing something?

another interesting one after BJC

The land swap will only be given after refurbishment completed?

So the project may only be slated 3-4 years later?

That's called inflation n inflated kakakka

They talk only lar. I think will be concurrent but the development will finish maybe 1 year after the stadium refurbishment is completed. Stadium refurbishment how long will it take lar? Repaint. Replace the seats, replace grass, replace some equipment, kao tim. 1 year to 2 year job nia. If want rush job 6 months also can get it done lar.

Anyway Mrcb is smart, lock up the land first. If launch now, the climate is not that good. If launch few years later after the refurbishment is done confirm will get better price. Also with Pavi BJ done and Bukit Jalil price up up up, they launch later can ask higher psf too. Right now they can ask roughly 800 like Pavi BJ. Who knows how much they can ask in 2018 after Pavi completion?

This post has been edited by ivanpei: Jul 1 2015, 12:17 PM

eh... like dat, all the more should BBB Park Sky then?

Park sky already BBB isn't it? Lol. Not enough units to go around d.

keep the change like tun m said

Exciting parcel locate here

fuhh , this location just beside mainroad , mainhighway , main entrance , connected 2 LRT station

ok , RM1000 psf incoming

interesting development coming, wonder will it more residential? commercial or offices....

Leasehold?

Any agents in charge here....?? Pm

fuh tis location is hot.. if they launch later in 2018, can ask way higher price.. in the end profit for developer

Walau 1000 psf cheap lor. This land too valuable for residential imo. I think gonna be lots of grade A+++ offices with retail podium ala Klcc area. Smth like Gtower etc is my guess.

This post has been edited by ivanpei: Jul 1 2015, 01:42 PM

Pity all the surrounding parks, driving range and paintball park, all the development and bukit jalil is still congested as hell...

rapid development but total lack of planning in terms of transportation and public transport.

another fail city suburb in the making.

Got LRT, so many highways in Bukit Jalil, MRT in Sungai Besi.

Highways:

Kesas
Bukit Jalil Highway
Mex

Public Transport:
LRT
MRT 2 @ Sungai Besi (1 stop away from Bj station)

If Bukit Jalil infra fail, all other suburb in Malaysia fail lor. This is already the best connected suburb in Klang Valley in terms of highways and Public Transport. Apa lagi mahu lol? MK lagi dense without any public transport and only 1 major entry/exit point by highway.

This post has been edited by ivanpei: Jul 1 2015, 01:57 PM