By looking at these three news referring from www.theedgeproperty.com.my, a great connectivity of transit system will complement each other and further improve the convenience of the consumer. Not only that, it will reduce the travelling time further. Its the move that going to further improve the country transportation system. Even Ho Chin Soon says do not underestimate the potential of HSR.
Local connectivity needed to complement HSR development
KUALA LUMPUR (Aug 27): Although the Kuala Lumpur-Singapore High Speed Rail (HSR) could be a great boost to improve Malaysia’s trans-border transportation system, industry players and consultants suggested that private and public sectors need to collaborate to enhance the “real connectivity” of various transportation systems to allow business opportunities to grow.
Ho Chin Soon Research chairman Ho Chin Soon said HSR will change the way people travel and do business as it shortens the time from Kuala Lumpur to other states in the southern region all the way to Singapore.
“The improved connectivity will move the central of gravity from the central region to other places, such as how the highway connectivity has shifted the central gravity from Petaling Jaya to Puchong, and now HSR will expand the golden triangle areas to open up more opportunities in older places like Bukit Bintang,” he said.
However, BBCC Development Sdn Bhd CEO Datuk Richard Ong said the connectivity between all public transportation systems, such as Mass Rapid Transit (MRT), Light Rapid Transit (LRT) and public buses also need to be improved to effectively connect people from HSR stations to other locations.
“BBCC will set an example by connecting MRT, LRT and the monorail system as well as provide greater convenience to the commuters who travel from or to HSR stations,” he said during the panel discussion at TheEdgeProperty.com’s “Symposium on Kuala Lumpur-Singapore High Speed Rail 2016”.
Ho and Ong as well as Savills Malaysia executive chairman Christopher Boyd were the panellists for the panel discussion titled “HSR — The Big Idea”.
The panel discussion was moderated by TheEdgeProperty.com managing director and editor-in-chief Au Foong Yee.
The symposium was organised by TheEdgeProperty.com and supported by The Edge Malaysia. The presenting sponsor is Bukit Bintang City Centre (BBCC).
Apart from connectivity, Ong said the requirements of young buyers and the working population are getting more sophisticated, and developers need to be creative to integrate more elements to the developments to cater to their needs.
“In a market where oversupply has become an issue, developers need to add in more elements — such as entertainment and recreation — into the design to cater to their needs,” he said.
Although many people are looking forward to the opportunities in the property market due to the HSR, Boyd reminded that infrastructure development is a long-term development which will not see an explosion in value in the short term.
“Investors could tap on the opportunities to invest in properties along the HSR line, but they must also bear in mind, there will not be an overnight booming effect even after the HSR starts operation. Based on the experience of countries which already have HSR, the rental yield growth and capital appreciation will take time to see the impact,” he explained.
BBCC invests RM30 mil in transit hub
KUALA LUMPUR (Aug 27): Believing that connectivity is absolutely vital, Bukit Bintang City Centre Development Sdn Bhd (BBCC) said the developer will be investing RM30 million into creating the central transport hub located within the development, said its chief executive officer, Datuk Richard Ong.
Speaking at TheEdgeProperty.com’s inaugural “Symposium on Kuala Lumpur-Singapore High Speed Rail 2016”, Ong said the developer is going to do a lot more besides banking in on the existing transportation system that surrounds BBCC, the former Pudu jail site.
According to Ong, the transit hub will connect the Light Rail Transit (LRT) station, the future Mass Rapid Transit (MRT) station and the monorail station.
“This is something we’re doing on our own for the benefit of commuters. It will cost us RM30 million, but we want seamless connectivity from the stations for everyone who comes to BBCC or live within BBCC.
“BBCC counts a lot on connectivity. Forget about cars, the future is going to be the rail lines including the High Speed Rail. You have the MRT connected to the monorail and LRT right in front of BBCC.
“If you take the LRT you can reach Chan Sow Lin where you can transit and then reach the HSR located at Bandar Malaysia. Connectivity is very important not only in the Klang Valley but beyond that, to Singapore and even the whole world,” said Ong.
Ong’s presentation topic titled “The new heartbeat of Kuala Lumpur” touched on how BBCC is set to be the new heart of Kuala Lumpur.
The 19.4-acre project with a gross development value (GDV) of RM8.7 billion is located at the intersection of Jalan Imbi and Jalan Pudu, also dubbed as the Golden Triangle of KL. It is being developed by a consortium comprising UDA Holdings Bhd, Eco World Development Group Bhd and the Employees Provident Fund in a 40:40:20 share structure over a period of between 8 to 10 years.
The integrated development will comprise a 1 million sq ft retail mall, lifestyle street, entertainment hub, hotel, 350 units of 715 sq ft to 1,423 sq ft offices within the Strata Office Tower, six luxury residential towers, an 80-storey Signature Tower, parks and gardens, and finally the transport hub.
Organised by TheEdgeProperty.com, the symposium titled “Where to invest — Don’t miss the boat” is supported by The Edge Malaysia with Bukit Bintang City Centre as the presenting sponsor.
Do not underestimate the potential of HSR intermediate stations, says Ho Chin Soon
KUALA LUMPUR (Aug 27): Ho Chin Soon Research Sdn Bhd chairman Ho Chin Soon has reminded property investors not to underestimate the potential of areas where the intermediate stations of the Kuala Lumpur-Singapore High Speed Rail (HSR) link are located.
Speaking during his presentation "Hot spots along the alignment: Where are the opportunities?" at TheEdgeProperty.com’s “Symposium on Kuala Lumpur-Singapore High Speed Rail 2016” themed “Where to invest — Don’t miss the boat!” today, Ho pointed out that the HSR is expected to attract 17.6 million potential users and the number is poised to increase at a pace of 2.9% per annum to about 24 million in 10 years.
Furthermore, when the government of Malaysia and Singapore signed the memorandum of understanding (MOU) for the 350km rail link last month, some developers have started to acquire land near the proposed stations while developers with projects near the proposed stations are already promoting their projects with the HSR as a major selling point of their projects, he added.
Ho said the HSR, which will have a terminus in Bandar Malaysia and six intermediate stations in Putrajaya, Seremban, Ayer Keroh, Muar, Batu Pahat and Iskandar Puteri, offers a lot of opportunities for Malaysian real estate investors including property developers.
"There are land purchase opportunities, for developers looking for development land near HSR stations. Look for plantation land, whereas individual investors should look for small holding land."
He revealed that some well-known developers already have land near the upcoming HSR stations, such as Sime Darby Bhd (Seremban station) and the Lion Group, Bellworth Group, Encorp Bhd and MTD Capital Bhd with lands in Ayer Keroh.
While revealing the land ownership and opportunities for land purchases surrounding the proposed HSR stations, he also urged investors to not underestimate the potential of each intermediate station.
For example, Pagoh or Muar stations offer small holdings and plantation land purchase opportunities, he noted.
Ho added that Ayer Keroh — another intermediate station of the HSR — will also benefit from the HSR mega project that will shorten the travel time from Ayer Keroh to Bandar Malaysia.
The symposium, which was held at Sunway Putra Hotel, Kuala Lumpur, is organised by TheEdgeProperty.com and supported by The Edge Malaysia. The presenting sponsor is Bukit Bintang City Centre.
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