This article first appeared in City & Country, The Edge Malaysia Weekly on December 23, 2019 - December 29, 2019
Phase 1 of Bukit Bintang City Centre (BBCC), comprising serviced apartment Lucentia Residences, has achieved a take-up rate of 95%. Meanwhile, its strata offices, The Stride, is 60% sold.
“We have received positive response for our two blocks of serviced apartments and are gearing up to launch Phase 2, which comprises the third block of serviced apartments, in the middle of next year,” BBCC Development Sdn Bhd CEO Low Thiam Chin says in an email.
Details of Phase 2 are still being finalised. “Works have been progressing well and the site progress for Phase 1 has reached 45% to date — on track for its target completion in the first quarter of 2021,” he adds.
First launched in 2016, Lucentia comprises the 47-storey Tower 1 (393 units) and 35-storey Tower 2 (273 units). The apartments will have built-ups of 454 to 882 sq ft each and range from studios to 1-bedroom, 1+1-bedroom, 2-bedroom and dual-key units. They have an average price of RM1,750 psf.
Launched in 2016, The Stride comprises one 41-storey block of strata offices, with eight lifts and one service lift. The 341 units will have built-ups of 1,087 to 11,383 sq ft each and an average selling price of RM1.6 million to RM17 million (RM1,600 psf).
Accounting for 50% of the total built-up area of BBCC, Phase 1 is scheduled to see its first handover in the first quarter of 2021.
BBCC occupies a 19.4-acre tract in Jalan Hang Tuah where Pudu Prison was located. The RM8.7 billion development is a joint venture between UDA Holdings Bhd, Eco World Development Group Bhd and the Employees Provident Fund.
The mega project will have a total gross built-up area of 6.7 million sq ft. Under its master plan, the area will house premium office suites, residential suites, a four-star hotel (Canopy Hilton), five-star hotels, the Mitsui Shopping Park Lalaport mall, a rooftop garden, an entertainment hub (banquet hall, cineplex, Malaysia Grand Bazaar and Zepp KL concert hall) and a transit hub with LRT, monorail and MRT (newly opened) stations, among others. Future phases are still on the drawing board.
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