Bandar Malaysia, which is located just seven kilometres from the heart of the capital, is expected to benefit the most from Singapore-Kuala Lumpur High Speed Rail (HSR), according to Zerin Properties CEO Previn Singhe.
“As per the norm in international railway projects, Bandar Malaysia will see the most prominent growth as the terminus location,” he said, adding that the ambitious project is expected to reduce the travel time between Singapore and Kuala Lumpur from seven hours currently to just 90 minutes.
“Bandar Malaysia, a mixed-use urban development, is set to become the next major transportation hub and serve as KL’s gateway to Singapore with excellent connectivity to other parts of Greater KL via MRT lines 2 and 3, KTM Komuter, ERL, and future access to major highway networks.”
The HSR will also positively impact other major projects close to Bandar Malaysia, such as Bukit Bintang City Centre and Tun Razak Exchange (TRX).
“The property market of Kuala Lumpur City Centre (KLCC) and Taman Desa, which are within close proximity to Bandar Malaysia, will see growth in property values and rental yield as a result of increased demand for housings. This would augur well in addressing the oversupply situation in Kuala Lumpur high-end condominium market,” he noted.
“It will also improve demand for office spaces and benefit tourism and retail sectors in Klang Valley due to tourist influx from Singapore (Singaporeans and foreigners alike).”
Moreover, the HSR project will boost the property market within the vicinity of its other proposed stations in Malaysia. In particular, it will benefit real estate developers with sizeable land close to these transit points.
“These transit stations are surrounded mostly by agricultural land as well as development land. It is expected that the proposed HSR stations will result in change of land use surrounding the stations in order to capitalise on development potential,” he explained.
For instance, it will be a boon for developer UEM Sunrise given that its Gerbang Nusajaya project will house the Iskandar Puteri HSR.
“Brisk sales of residential products in Gerbang Nusajaya, namely Melia Residence and Leisure Farm resort styled villas which is located two minutes away, is a testament to the HSR’s impact on surrounding property market.”
Another developer that will gain from the HSR is Sime Darby. Its Bandar Universiti Pagoh project is near the Muar station, while the Seremban station is close to Malaysian Vision Valley (MVV).
“MVV is a public-private integrated economic development area focusing on high-tech manufacturing, tourism, skill-based education and research and specialised services, while Bandar Universiti Pagoh is an education hub comprising three universities, student village, business park, commercial areas and residential areas.”
Similarly, Previn pointed out that Johor Corp and Genting Plantation have large landbanks within proximity to the Batu Pahat HSR station.
“The Batu Pahat station is proposed within the township of Genting Pura Kencana in Sri Gading, a project launched by Genting Plantations Bhd in 2006. Pura Kencana spans 8,000 acres and will comprise residential areas, shopping centres, schools, various public amenities and a clubhouse.”
Meanwhile, the Ayer Keroh station is expected to drive Malacca’s tourism industry, as well as more real estate developments.
“It will also benefit various townships and developments namely Bukit Katil Development by Encorp and Felda, IOI City by IOI Properties, Taman Tasik Utama by MTD Capital Bhd, Tiara Melaka Golf Club & Baba Nyonya Resort, to name a few,” he added.
Source : www.propertyguru.com.my
Pavither • December 5, 2017
This article was edited by the editorial team of PropertyGuru. To contact them about this or other stories email firstname.lastname@example.org