JOHOR Corp (JCorp) is allocating more than RM20mil to upgrade the existing Larkin Market and Bus Terminal and build a new complex next to it.
Chief executive officer Tan Sri Muhammad Ali Hashim said JCorp unit Harta Consult Sdn Bhd, the owner-operator of the terminal, was undertaking the project.
He said the upgrading job would be divided in two phases, with phase one being allocated RM3mil and phase two RM5mil.
Ali said work had already started on phase one and was expected to be completed by year-end or early next year.
This is a strategically located commercial building in Johor Baru with good growth potential but sad to say it is under-utilised in terms of space, he said during a media tour to the terminal on Wednesday.
Ali said as a meeting point for express buses and taxis plying the peninsula and Singapore, the terminal received about 30,000 users daily.
He said the upgrading works included installing six escalators, upgrading the power supply, building new toilets, internal painting works and adding 10,000 sq ft of retail floor.
Ali said JCorp would try to attract retailers currently operating at several shopping complexes in Johor Baru to open outlets at the building.
He said phase three of the project involve the construction of a new building over the existing open air car park that would be dedicated to retailers and food and beverage outlets.
Ali said work on the new building would probably start towards the end of 2005.
He said with over 250,000 residents living within the area, the market was too good to be ignored.
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