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IPOH, May 9 (Bernama) -- UDA Holdings will invest RM5 billion to develop the Pudu Jail site here as part of the masterplan to transform Kuala Lumpur as one of Asia's most prominent cities, Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said.
He said the plan for the Bukit Bintang Commercial Centre, which includes a condominium, hotel and commercial building, would be carried out in six phases.
"The project involves a total area of 8.6ha and is part of the Kuala Lumpur development masterplan," he told reporters here.
He said UDA Holdings had yet to decide on whether to carry out the project on its own or find a partner.
-- BERNAMA
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