KUALA LUMPUR: Malaysian Resources Corp Bhd’s (MRCB) subsidiary Rukun Juang Sdn Bhd (RJSB) has won a RM1.6bil deal from the Government to regenerate the Bukit Jalil National Sports Complex into the iconic Kuala Lumpur Sports City.
The property and infrastructure developer said in a statement that the Government selected its 85% owned subsidiary from among the 11 companies that submitted proposals in an open national tender process undertaken by the Public Private Partnership Unit (Ukas) of the Prime Minister's Department.
In exchange for undertaking the proposed privatisation, RJSB will receive three pieces of leasehold land in Bukit Jalil totalling 92.5 acres.
The first phase of the work – Project 1 - will get the Bukit Jalil National Stadium ready to host the 2017 South-East Asia (SEA) Games.
During Project 1, in addition to regenerating the Bukit Jalil National Stadium, RJSB will also carry out targeted works on Putra Stadium, the National Aquatic Centre and the National Hockey Stadium, improve integration to the current and existing public transportation links, and increase pedestrian access across the site.
After the completion of project 1 is completed and the SEA Games are over, RJSB will start Project 2 in early 2018.
This second phase will see the creation of KL Sports City, a fully-integrated sports hub that will consist of new, world-class infrastructure, including high performance sports training facilities, a Sports Rehabilitation Science Centre, a Youth Park, public sports facilities, a Sports Museum, Youth Hostel, Convention Centre, and a sports-focused retail mall.
Youth and Sports Minister Khairy Jamaluddin had announced in June that the Government had allocated more than RM1bil to turn the National Sports Complex and its surrounding areas into a Sports City.
Shares of MRCB closed unchanged at RM1.19 on Wednesday.
The property and infrastructure developer said in a statement that the Government selected its 85% owned subsidiary from among the 11 companies that submitted proposals in an open national tender process undertaken by the Public Private Partnership Unit (Ukas) of the Prime Minister's Department.
In exchange for undertaking the proposed privatisation, RJSB will receive three pieces of leasehold land in Bukit Jalil totalling 92.5 acres.
The first phase of the work – Project 1 - will get the Bukit Jalil National Stadium ready to host the 2017 South-East Asia (SEA) Games.
During Project 1, in addition to regenerating the Bukit Jalil National Stadium, RJSB will also carry out targeted works on Putra Stadium, the National Aquatic Centre and the National Hockey Stadium, improve integration to the current and existing public transportation links, and increase pedestrian access across the site.
After the completion of project 1 is completed and the SEA Games are over, RJSB will start Project 2 in early 2018.
This second phase will see the creation of KL Sports City, a fully-integrated sports hub that will consist of new, world-class infrastructure, including high performance sports training facilities, a Sports Rehabilitation Science Centre, a Youth Park, public sports facilities, a Sports Museum, Youth Hostel, Convention Centre, and a sports-focused retail mall.
Youth and Sports Minister Khairy Jamaluddin had announced in June that the Government had allocated more than RM1bil to turn the National Sports Complex and its surrounding areas into a Sports City.
Shares of MRCB closed unchanged at RM1.19 on Wednesday.
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