PUTRAJAYA — Nov. 11, 2019: Two abandoned projects in Kuala Lumpur’s city centre — the Plaza Rakyat and the Grand Duta Hyatt — will be redeveloped.
The Plaza Rakyat on Jalan Pudu has been left idle since 1992 and will be redeveloped by a new developer. The development order will be released later this year after the developer settles certain charges set by the KL City Hall.
Work on the hotel at the corner of Jalan Ampang and Jalan Sultan Ismail began in 1993. Some amendments were made three times from 1998 to 2013 but work never resumed.
According to Federal Territories Minister Khalid Abdul Samad, the project is expected to be redeveloped by the original developer.
Khalid said his ministry has set some requirements to ensure the projects is not abandoned again, besides examining the background and financial capabilities of the contractors.
“So we have no reason to be skeptical of their capabilities. If they still fail, the developers will lose hundreds of millions of ringgit. We will help them by providing some flexibility and incentives, including a 50 per cent discount on the development charges,” he said. — Bernama