Prasarana’s property play Syarikat Prasarana Negara Bhd is firming up plans to develop property projects along the proposed Sungai Buloh-Kajang mass rapid transit (MRT) alignment, which will allow the government to directly benefit from the expected surge in property value. Prasarana is a government-owned entity that owns assets and provides public transport services. Group managing director Shahril Mokhtar said on Feb 13 that Prasarana was in the midst of finalising the prospective land parcels to be developed. Prasarana will adopt Hong Kong’s “rail plus property” approach to its urban public transport system.
“In Hong Kong, when they want to come out with new lines, they must always look for parcels of land which can be developed to offset the cost of construction. In our current rail alignments, we can see iconic areas where this purpose can be achieved,” he observed.
Astral units in mixed-use development JVAstral Sdn Bhd’s units Syarikat Ladang LKPP Sdn Bhd and Tasja Development Sdn Bhd have signed a joint venture agreement to build a mixed-use development on a 599.41ha piece of leasehold land in Pahang. Astral says the project will comprise a commercial centre, an industrial centre, mixed residential properties, public amenities and infrastructure. The project also includes a hi-tech park known as Kuantan Hi-Tech Park. Astral is engaged in oil palm cultivation, civil engineering and construction works, and with this joint venture, it will diversify into property development.
This article appeared in City & Country, the property pullout of The Edge Malaysia, Issue 846, Feb 21-27, 2011