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 transborder 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 centre of gravity from the central region to other places, such as how the highway connectivity has shifted the centre of 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 and providing 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 boom 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.

For more reports on the symposium, read the Sept 2, 2016, issue of TheEdgeProperty pullout. You can download the pullout for free at www.TheEdgeProperty.com.

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