Bukit Chagar set to see GDV of RM3bil

KUALA LUMPUR: Bukit Chagar in Johor is set to be a thriving lifestyle and business hub following the inking of a memorandum of understanding (MOU) between Mass Rapid Transit Corporation Sdn Bhd (MRT Corp) and Hong Kong’s MTR Corporation Limited (MTR Corp) to develop a mixed development venture that revolves around public transport.

MRT Corp is the project owner of the Malaysian portion of the Johor Baru-Singapore Rapid Transit System (RTS), and the entry of MTR Corp into the picture is expected to give a boost to the venture that is expected to see a gross development value (GDV) of RM3bil.

MRT Corp CEO Datuk Mohd Zarif Hashim said the mixed development is expected to transform Bukit Chagar into an attractive destination for domestic and international investors.

“Development will occupy six acres (2.43ha) of land,” said Mohd Zarif during a press conference at the MOU signing event in a hotel here yesterday.

Also present were Transport Minister Anthony Loke as well as his Hong Kong counterpart, Transport and Logistics secretary, Lam Sai-hung.

Mohd Zarif added the project will begin concurrently with the ongoing construction of the RTS Link between Johor Baru and Singapore.

He said MTR Corp is a well-known transit-oriented developer in Hong Kong, having successfully integrated “lifestyle with rail”.

“Through this collaboration, both companies aspire to build liveable communities in Bukit Chagar through curating the right retail mix to meet lifestyle needs, hospitality offerings, healthcare and wellness services,” said Mohd Zarif.

The RTS Link is designed to move 10,000 passengers per hour in each direction between Bukit Chagar and Singapore’s Woodlands North.

Meanwhile, Prime Minister Datuk Seri Anwar Ibrahim said Hong Kong Special Administrative Region (HKSAR) chief executive John Lee Ka-chiu had expressed his appreciation and thanks over Malaysia’s decision to grant 90-day visa-free travel for HKSAR passport holders from June 28.

“This measure will help contribute to an increase in business activities and tourism, as well as people-to-people exchanges,” said Anwar in a Facebook post on Thursday.

Anwar added that Lee had also informed him that HKSAR would also consider opening a trade office in Kuala Lumpur.