The People's Plaza (Malay: Plaza Rakyat) is a mixed-use skyscraper complex in Kuala Lumpur, Malaysia initiated during the 1990s. However, the project, which had already commenced construction, was stalled due to the 1997 Asian Financial Crisis and remains abandoned as of June 2009.
The project, originally designed by Skidmore, Owings and Merrill, was to comprise a 79-storey office tower, a 46-storey condominium, a 24-storey hotel and a 7-storey shopping centre. The original Puduraya bus depot was also intended to be replaced.History
The project, which occupies a large triangular tract of land facing Pudu Road and Robertson Road, Kuala Lumpur, was previously a swampland before occupancy in 1929 by the Selangor Chinese Club, a social club consisting of a clubhouse mimicking the Selangor Club at Merdeka Square in layout and architectural style (in Mock Tudor architecture), and a vast field. The club was completely cleared away during the 1990s for the project.
The site remains connected (but closed) to the Ampang Line's Plaza Rakyat station, which was opened in 1996 in preparation for the completion of Plaza Rakyat.Abandonment and potential revivals
The Plaza Rakyat development was put on hold since 1997 due to financial difficulties faced by the developer and the a financial crisis. Abandonments have similarly plagued several other buildings in Kuala Lumpur as a result of the 1997 financial crisis, such as the Duta Grand Hyatt at the intersection of Jalan Sultan Ismail and Jalan Ampang, and the Vision City, Kuala Lumpur at Jalan Sultan Ismail. Till-date, only the base of the complex has been completed.
Efforts to revitalize the project, announced in 2005 and 2006, proved unsuccessful when the project continued to remained stalled. On October 26, 2007, it was once again announced that the project would be revived after contract negotiations and amendments with the Government of Malaysia regarding the sale of the premises following the completion of the project. The project was then expected to be completed by 2012. However, little was said subsequently and the project continued to be abandoned.
After a public walkabout by the newly installed Prime Minister Dato' Seri Najib Tun Razak in early 2009, the problem of the stalled construction was looked at yet again. The government gave an ultimatum to the developer, Global Upline, three months from April 2009 to come up with a development plan or have its contract terminated. In July 2009, it was reported that the new contractor would be announced by the following month. However, in August 2009, Federal Territories Minister, Datuk Raja Nong Chik Raja Zainal Abidin said that the government is yet to accept any proposals from interested developers pending a response from Global Upline.
Finally, in December 2009, the government announce that it will terminate the deal with the current developer. However, the legal process will still needs three to six months as the developer has rights in which they may claim. After the legal aspect has been cleared, a new tender will be made.