DBKL gets better deal for Plaza Rakyat from party chosen without tender

KUALA LUMPUR: Kuala Lumpur City Hall (DBKL) has chosen a new company over Ivory Properties Group Bhd to revive the Plaza Rakyat project because the city hall was offered a more attractive deal for the abandoned project.

However, DBKL did not undertake an exercise to invite other interested parties to submit their bids for the project before issuing the letter of intent to Profit Consortium Sdn Bhd, the company that plans to build a “Sungai Wang Plaza” kind of mall on the site that is located near the Pudu Raya bus terminal.