The project, dubbed PJ Sentral and with RM2 billion gross development value, will involve upgrading and rehabilitating several buildings and facilities in addition to implementing traffic dispersal systems and new routes.
"The project will be carried out over four phases over the next six years, and will be financed by raising bonds, borrowings from local and foreign banks, and internally generated funds," Bisraya director Imran Salim told a media briefing in Petaling Jaya yesterday.
It will be undertaken as a joint venture with Selangor economic and investment arm Perbadanan Kemajuan Negeri Selangor (PKNS).
Bisraya, a subsidiary of Gapurna Group, received approval from PKNS in June last year for the development.
The project is in the vicinity of Jalan Barat, Hilton Petaling Jaya hotel, A&W drive-in restaurant, light rail transit (LRT) station and Amcorp Mall adjacent to the Federal Highway.
It will have four office towers, a residential tower and a hotel with green features. It will also be the site of PKNS' new headquarters.
The proposed traffic dispersal is aimed at easing the bottlenecks at Jalan Barat and Jalan Templer, such as new alternate routes linking directly to existing high-ways like the New Pantai Expressway.
The development will also be pedestrian-friendly with good connectivity to the nearby Asia Jaya and Taman Jaya LRT stations.
By Zaidi Isham Ismail
Business Times
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