UDA Holdings ordered by MoF to re-do Puda Jail land masterplan

KUALA LUMPUR (Dec 6): UDA Holdings Bhd has been ordered by the Ministry of Finance (MoF) to come up with a new masterplan for the redevelopment of the Pudu Jail land to include more bumiputera participation.

UDA Chairman Datuk Nur Jazlan said on Tuesday that the government had directed that the city centre land be divided into three parcels, with two of the plots to be given to bumiputera developers.

However, the bumiputera plots will only be awarded after an open tender process, Jazlan said after the launch of UDA's 40th anniversary commemorative stamps.

UDA meanwhile will act as the master developer for the project.

Under UDA's earlier masterplan, it would work with one joint venture partner who will build UDA public transport hub and retail assets in exchange for land rights to erect high rise buildings.

But those plans were shelved after MoF recently directed UDA, which was formerly the Urban Development Authority, to come up with a new master plan.

At the same event, deputy finance minister Datuk Awang Adek Hussin said the government was "flexible" on arrangements for the bumiputera parcels to be developed in partnership between bumiputera and non-bumiputera companies.

Awang Adek said the bumiputera companies involved cannot be sleeping partners in the project.

"UDA's mandate is to help the bumiputera community, so there are bumiputera considerations to ensure that bumiputera participation in real estate is more visible," Awang Adek said.