Mitsui Fudosan enters JV with Bukit Bintang City Centre for RM242mil en-bloc deal

  • Property
  • Wednesday, 10 Jun 2020

Artist's impression of the Bukit Bintang City Centre project

KUALA LUMPUR: Mitsui Fudosan (Asia) Malaysia Sdn Bhd (MFAM) and BBCC Development Sdn Bhd have formed a joint venture to purchase a serviced residence block in the Bukit Bintang City Centre development for RM242mil.

"MFAM’s continued partnership with the project’s shareholders is a natural progression from our Phase 1 involvement of developing The Mitsui Shopping Park Lalaport retail mall project.

"It has been an exciting journey and we are delighted to be part of BBCC’s Phase 2 growth and looking forward to achieving more in years to come,” said MFAM managing director Takehito Fukui in a statement.

BBCC is a joint-venture project between UDA Holdings Bhd, Eco World Development Group Bhd and the Employees Provident Fund Board.

The serviced residence block is a 44-storey building that will have a total of 269 units comprising one, two and three-bedroom apartments with built-ups from 532 to 1,188 sq ft, as well as carparks and facilities.

The block is part of Phase 2 of BBCC which will also include another residential tower and two blocks of commercial buildings.

The serviced residence block is expected to be completed by the end of 2023.

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