HSR

WHAT is the one word that comes to mind when you think of the upcoming Kuala Lumpur-Singapore High Speed Rail (HSR)?

“Opportunities”, “speed” and “money”, in that order. Those were the answers given by the majority of over 500 participants of TheEdgeProperty.com’s “Symposium on Kuala Lumpur-Singapore High Speed Rail 2016” on Aug 27.

The online interactive poll conducted during the symposium also asked participants to rank the proposed HSR station locations in Malaysia that they would put their money on. Not surprisingly, the station that ranked first was Greater KL, followed by Seremban, Iskandar Puteri, Putrajaya, Ayer Keroh, Batu Pahat and Muar.

The polls were conducted during the symposium themed “Where to invest — Don’t miss the boat” to find out what the attendees thought of the HSR project.

The symposium clearly attracted those who were looking to ride on the real estate investment opportunities that could arise from the HSR project.

In her welcome address, TheEdgeProperty.com managing director and editor-in-chief Au Foong Yee noted the importance of seizing investment opportunities from the upcoming HSR although the first train would only be flagged off in 10 years or so.

HSR

“If there is to be one development on the Malaysian property scene now that can be considered sexy and exciting, it must be the HSR. Sexy not because of the meandering curves of its alignment, but the immense investment potential and opportunities that it offers,” she said.

The speakers featured in the symposium were BBCC Development Sdn Bhd chief executive officer Datuk Richard Ong, Henry Butcher Real Estate Sdn Bhd chief operating officer Tang Chee Meng, TheEdgeProperty.com director of business and product development Alvin Ong, KGV International Property Consultants executive director Samuel Tan, Ho Chin Soon Research chairman Ho Chin Soon and Savills Malaysia executive chairman Christopher Boyd.

Although the speakers expect the HSR to bring positive impact overall, they also raised key factors that must be addressed for the successful implemetation of the HSR. These include the importance of local connectivity.

Richard stressed that it is important for BBCC to provide seamless connectivity for commuters as he believes the future lies in the rail lines, including the HSR.

HSR

Hence, the developer will invest RM30 million into creating the central transit hub located within its Bukit Bintang City Centre integrated development to link the Mass Rapid Transit (MRT), Light Rail Transit (LRT) and monorail stations.

Located on the former Pudu jail site in Kuala Lumpur, Bukit Bintang City Centre has a gross development value (GDV) of RM8.7 billion.

The 19.4-acre project 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.

Henry Butcher Malaysia’s Tang in his talk also noted that the last mile connectivity at the proposed intermediate HSR stations such as Seremban and Ayer keroh would be vital for the HSR’s success.

In his presentation entitled “Investment sweet spots: The Seremban/Air Keroh lure”, Tang also shared some notable townships in Seremban and Melaka that may be worth looking at for investors.

Meanwhile, KGV’s Tan, in his presentation titled “Iskandar-Batu Pahat-Muar: A shining star?”, added that he believes the HSR will bring in more businesses to those quieter towns in the south of Malaysia, which have a planned HSR station, namely Muar, Batu Pahat and Iskandar Puteri.

HSR

There was also a panel discussion entitled “HSR: The Big Idea” which was moderated by Au with Ho, Boyd and BBCC’s Richard on the panel. In the panel discussion, the panellists agreed that the public and private sector need to join hands to enhance connectivity that complements the HSR besides creating a conducive environment for businesses to grow.

To recap, Malaysia and Singapore signed a memorandum of understanding recently to work towards commencing the Kuala Lumpur-Singapore High Speed Rail (HSR) operations by 2026.

Both governments have also agreed that the HSR will have eight stations, with main terminals in Bandar Malaysia (Kuala Lumpur) and Singapore, and six intermediate stations in Putrajaya, Seremban, Ayer Keroh, Muar, Batu Pahat and Iskandar Puteri.

The symposium which was held at Sunway Putra Hotel, Kuala Lumpur, was organised by TheEdgeProperty.com and supported by The Edge Malaysia. The presenting sponsor was Bukit Bintang City Centre.

Try out one of our super tools, the rental yield calculator, here.

This story first appeared in TheEdgeProperty.com pullout on Sept 2, 2016, which comes with The Edge Financial Daily every Friday. Download TheEdgeProperty.com pullout here for free.

HSR270816

SHARE
RELATED POSTS
  1. Over 10,000 units of Residensi Madani, Wilayah to be built in Putrajaya — minister
  2. Assessment of HSR proposals to focus on minimising govt’s financial input, says transport minister
  3. Updated: IJM climbs to five-year high after joining consortium to bid for KL-S'pore HSR job