First phase of Battersea project to be completed by Oct 2016


  • Business
  • Wednesday, 11 Nov 2015

The first phase comprising a block of 866 apartments will be completed next year. The photo shows a construction worker passing by the Battersea Power Station logo at Setia International Centre in Kuala Lumpur.

KUALA LUMPUR: Malaysian consortium Battersea Power Station Development Company (BPSDC) is confident of completing the first of its seven-phase, £8bil (RM60bil) Battersea Power Station redevelopment project in London by October next year.

BPSDC chairman and Sime Darby Property deputy managing director Datuk Jauhari Hamidi said phase one was on track with the company having completed 70% of it.

“We still have until October to complete the rest. With the commitment and progress from the contractors, we believe the deadline can be met, and will serve as a key milestone for us,” he added.

He told reporters this at the seminar on “Working with Battersea Power Station Development Company UK” in Kuala Lumpur on Wednesday.

The Battersea project involves the redevelopment of 15.78ha of the Battersea Power Station in London by the consortium comprising SP Setia, Sime  Darby Bhd and the Employees Provident Fund.

It will lead to the creation of 3,500 new homes, shops, cafes, restaurant and offices.

The Battersea project is into its third year and expected to be completed in 2026.

“This, to a certain extent will erase the doubts when we first started, as  to whether a consortium made up of three Malaysian entities, could actually run the project,” Jauhari said.

On the current progress of the whole project, he said, the company had launched three of the seven phases so far.

“With this achievement, launches for the future phases of four to seven, are expected to progress smoothly,” he added.

Jauhari said he was confident that given the current property prices in London, Battersea could be the launchpad for future projects in the UK and Europe.

“The whole Battersea redevelopment is being supported by the transport plan for London, with the underground Northern Line extension being built on our site.

“We are not going to launch the subsequent phases until we deliver all of the first three,” he added. - Bernama

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
   

Next In Business News

Bermaz profit raises to RM133.9mil in FY21
Palm oil reverses course to trade up 1% on stronger US soyoil
Uzma, Petra Energy JV wins onshore petroleum E&P contract in Sarawak
Ipmuda sells PJ property to Kerjaya Prospek, eyes expansion into renewable energy and healthcare businesses
Tenaga, plantations power KLCI sharply higher
Malaysia maintains CPO export tax at 8% for July
FDI slips to lowest since 2009 due to pandemic
Vehicle sales in May doubled on-year but minimal sales seen in June
Malaysia's Carsome weighs US listing with SPAC as option
Pound tumbles as virus resurgence clouds hope for UK recovery

Stories You'll Enjoy


Vouchers