#10MP* M'sian Rubber Board land development can become a property hotspot - consultant

KUALA LUMPUR: The RM10 billion Sungai Buloh township development on the Malaysian Rubber Board land will spur economic activities including property development along the Sungai Buloh-Shah Alam corridor, a property consultant said.

KGV-Lambert Smith Hampton (M) Sdn Bhd director Anthony Chua said the development of the 3,300-acre land may even create a property hotspot similar to Kota Damansara and Puchong.

Besides the townhship development, the new proposed Guthrie-Damansara Expressway will also have a positive impact on the area, said Chua who was commenting on the 10th Malaysia Plan which was tabled by Prme Minister Datuk Seri Najib Tun Razak in Parliament on Thursday June 10.

The Malaysian Rubber Board’s land, the Sungai Juru Expressway, the Guthrie-Damansara Expressway, the West Coast Expressway, as well as the Paroi-Senawang-KLIA Expressway are part of 52 high-impact projects identified for implementation under the 10MP worth a total of RM63 billion.

“The impact of the Sungai Buloh and development is expected to be huge. To put it in perspective, it is almost three times the size of Petaling Jaya, which was created from a rubber estate (1,200 acres) in the fifties due to over-crowding in Kuala Lumpur,” Chua said. The 10MP stated that the estimated cost of development is RM10 billion.

Najib had in tabling the 10MP report said the private sector will have the opportunity to participate in the development of several key projects led by government-led companies. The projects include the Kuala Lumpur Strategic Development by 1Malaysia Development Bhd (1MB) for the Sungai Besi Airport area and the KL International Financial District near Jalan Tun Razak.

Chua said the Sungai Besi Airport redevelopment and the KL International Financial District are set to bring new excitement to the property scene: “I believe it will be similar to what had happened around KLCC area for the past decade. They will introduce a new generation of commercial buildings and luxurious high-rise residences. Potentially, we may see prices and rentals being pushed to new heights.”