{
  "id": 9702002,
  "title": "UDA eyes more ageing assets for revival after Chinatown 1974 makeover",
  "url": "https://urgent.news/2026/09/25/uda-eyes-more-ageing-assets-for-revival-after-chinatown-1974-makeover",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-25T04:33:22.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/news/regional/2026/09/1540847/uda-eyes-more-ageing-assets-revival-after-chinatown-1974-makeover"
  },
  "original_language": "en",
  "account": "KUALA LUMPUR: The Chinatown 1974 project, located on Petaling Street, has breathed new life into an aging building, the Tunas Utama, owned by UDA Holdings Bhd. Minister Steven Sim Chee Keong, who officially opened the rejuvenated space, highlighted how older assets can be repurposed to adapt to changing market demands. Since 1983, the building has been home to various businesses, and UDA now plans to rejuvenate at least four more properties around the country using a similar model. The Master Operator model allows entrepreneurs to establish businesses within the building while receiving guidance on operations, certifications, and approvals. This approach enables micro, small, and medium enterprises (MSMEs) to secure commercial locations with high foot traffic, thus providing an essential opportunity for growth. Sim emphasized that aging assets should not become obsolete, as they can still generate income and serve as valuable resources for entrepreneurs. He called for UDA to identify and restore additional assets to further aid MSMEs in securing prime commercial locations, rather than confining them to outskirts or rural areas. The Chinatown 1974 project embodies the \"Moving Through Time\" concept, inspired by Kuala Lumpur's Chinatown in the 1970s, offering modern commercial spaces to support small businesses and MSMEs in their growth.",
  "summary": "KUALA LUMPUR: Petaling Street has a new hangout spot with the opening of Chinatown 1974, giving a long-standing building a fresh lease of life.",
  "key_points": [
    "Chinatown 1974 project revitalized Tunas Utama building",
    "UDA plans to rejuvenate four more properties nationwide",
    "Master Operator model supports MSMEs in prime locations"
  ],
  "editors_take": "UDA's success with the Chinatown 1974 project sets a precedent for reviving ageing assets to support micro, small, and medium enterprises in securing prime commercial locations with high foot traffic.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}