The development on the site that hosted the former Pudu Jail is estimated to cost around RM5 billion, it was revealed recently.
UDA Holdings, the master developer of the project, currently is in talks with other developers for a joint-venture.
UDA chairman Datuk Nur Jazlan Mohamed was quoted as saying that the developers would try to ‘keep it within RM5 billion’ for the project.
He also stressed that the project will have a fair balance in terms on land ownership between bumis and non-bumis.
The development is expected to be a mixed development project consisting of serviced offices, residential areas, retail stores and also hotels.
UDA Holdings had taken over the site after the Pudu Jail was closed in 1996. The development project was launched in May.