The state government has approved the former Yau Tet Shin Bazaar site, covering 291 square metres, to the Perak Chinese Chambers of Commerce and Industry (PCCCI) to be developed into a multi-purpose commercial complex.

Perak Menteri Besar Datuk Seri Dr. Zambry Abd. Kadir said the project would be carried out to reactivate economic activities in the Pekan Lama area.

“I thank PCCCI for taking the initiative to develop the bazaar site, a former economic growth centre,” he told reporters after attending a Chinese New Year feast hosted by PCCCI here Saturday.

Zambry said he had seen the proposal on the construction of the complex and believed that its implementation could turn the area into commercial centre.

The old building, at Jalan Theatre and popularly known as the “round bazaar”, was built by a local millionaire known as Tet Shin at a cost of RM500,000 in 1961.

The building was demolished by the Ipoh City Council after the structure was found unsafe and the site had since being used as a parking area.

Meanwhile, PCCCI president, Datuk Lim Kok Cheong, said the construction of the complex was expected to cost between RM30 million and RM40 million.

— BERNAMA