KUALA LUMPUR (Nov 29) Construction of phase 1 of the Tanjong Tokong apartments in Penang is expected to begin early next year with completion by end-2014, said UDA Holdings Bhd chairman Datuk Nur Jazlan Tan Sri Mohamed.
"It will involve the construction of nine apartment blocks eight to 10 storeys high with a total of 550 residential units which will be given to the area's original residents," he told reporters here today.
Nur Jazlan said the company is evaluating the tenders to choose the eligible developer for the project, adding: "Over 20 companies are vying for the project tender, we hope the selection process goes smoothly, and we will announce the decision in two or three weeks."
The redevelopment of the Tajung Tokong area, at an estimated cost of RM165 million, involves the construction in two phases of 1,000 residential units for its original residents.
"Construction of phase two, comprising 650 residential units, will begin after phase one is fully completed," he said.
The residential units, costing an average RM120,000 each, will be given free to the area's original residents, while the extra 200 units will be sold at a discount to residents who have been renting houses for over 10 years, he said.
Nur Jazlan said the settlement agreement with the Tanjung Tokong residents signed earlier this year would end the stand-off with the residents since four decades ago, when UDA Holdings was entrusted in 1972 by the second Prime Minister, Tun Razak Hussein, to redevelop the area.
UDA Holdings will hold a "Mai Gempaq" UDA community carnival in conjunction with the ground-breaking ceremony for the residents' resettlement, to be officiated by Prime Minister Datuk Seri Najib Razak on Dec 8, he said.
Meanwhile, he said UDA Holdings also plans to upgrade the old apartments in the area.
"We expect to begin the upgrading project after the completion of phases one and two of the apartment project," he said.
In another development, Nur Jazlan said UDA Holdings has rejected a recent proposal paper from the Finance Ministry for the redevelopment of the former Pudu Prison, saying the ministry's plan involves dividing high-value land in central Kuala Lumpur into three parcels.
"This proposal will not benefit UDA Holdings, as supported by two appointed consultant agencies.
"The consultants' report clearly states the ministry's plan is not viable," he said.
However, all decisions will rest on the ministry, which fully owns UDA Holdings, he added. — Bernama
TOP PICKS BY EDGEPROP
Welcome Investor, Confirm Rental Beside Famous Uni
3 Sty 22x75, Bandar Bukit Tinggi, Renovated
Corner unit of 3 Storey Semi-Detached House
Ulu Kelang, Selangor
Ukay perdana sierra hijauan ampang semi d
Double Story Corner Lot Taman Warisan Putra Fasa 2
Seksyen 25, Shah Alam (Taman Sri Muda)
Shah Alam, Selangor
[RENTAL GET RM 3000 READY TENANT 2020 NEW PROJECT]
[270K HOT SELLING INVESTMENT PASSIVE INCOME 2R+2B]
Double Storey Terrace, Alam Sari, Bangi
NEW 1 Sty SEMI D Seksyen U14 Booking RM500 Only
Shah Alam, Selangor
3 Storey Luxury Semi D @ Forest Reserved Ampang