RM1b plan to uplift Lake Gardens sites
Kuala Lumpur: Several sites near Perdana Lake Gardens here are expected to be redeveloped under a privatisation deal worth more than RM1 billion.
Business Times was told that a businessman's special purpose vehicle (SPV) is working with the Public-Private Partnership Unit (UKAS) of the Prime Minister's Department for the proposed redevelopment.
Sources said the SPV plans to redevelop several government-owned properties in Jalan Tanglin, Jalan Lembah, Jalan Tugu, Jalan Cenderawasih, Jalan Cenderasari and Jalan Bukit Aman.
The properties include the Kuala Lumpur Federal Territory Health Department (JKN), Town and Rural Planning Department, Public Service Commission, Public Library and the Culture, Arts and Sports Department.
Poliklinik Komuniti Tanglin, Pusat Penjaja Jalan Cenderasari, Malaysia Islamic Centre and Federal Territory Islamic Affairs Department are among other buildings located in the area.
The SPV made a presentation late last year to UKAS and JKN to redevelop Poliklinik Komuniti Tanglin into a multi- storey building, the source said.
"The clinic will not be relocated. It will be housed within the new building once completed.
"The SPV intends to do the same with the other government-owned buildings. As the properties are owned by different ministries, the SPV will be presenting its proposals to each ministry and UKAS," the source added.
The source said as part of a wider strategy, the SPV is looking to integrate the redevelopment plan with the RM2.2 billion River of Life project, which aims to transform the Klang and Gombak rivers stretching 10.7km long.
"We believe this is a positive development, especially if a private party wants to come in and redevelop the area using its own money," the source added.