news

Malaysia Vision Valley 2.0 plan unveiled for the first time

KUALA LUMPUR (Dec 14): Negeri Sembilan Menteri Besar Aminuddin Harun has unveiled a comprehensive development plan (CDP) for Malaysia Vision Valley 2.0 (MVV 2.0), a state-led private sector-driven development that spans across 153,411ha in Seremban and Port Dickson.

In a joint statement yesterday, the Negeri Sembilan state government and Sime Darby Property Bhd said the CDP defines the growth development plan for MVV 2.0, along with its catalytic development focus, economic and social benefits, and sustainability and environmental aspirations.

The CDP also prioritises various aspects of economy, environment and social development within the MVV 2.0 development area.

According to the Negeri Sembilan government and Sime Darby Property, MVV 2.0 aspires to deliver economic impact on Malaysia by bringing in international and local investors, creating job and business opportunities.

Aminuddin also launched the publicity for the MVV 2045 local plan that sets out land use zoning and development initiatives to take MVV 2.0 forward.

It also consists of action plans for the enhancement of the environment, accessibility, infrastructure, liveability and industries within the MVV 2.0 development region.

“The preparation for MVV 2.0 is inclusive as it provides an opportunity for the surrounding communities to give their views and ideas for the overall planning of MVV 2.0,” said Aminuddin.

As master developer of MVV 2.0, Sime Darby Property plans to develop a high-technology and industrial park within the development, the first of six projects identified under the first phase.

Sime Darby Property currently owns 2,838 acres (1,148.5ha) within MVV 2.0 and has the option to acquire another 8,796 acres from Sime Darby Bhd within five years from the date of its listing. The first phase of MVV 2.0 spans over a 30-year development period covering 27,000 acres.

“The development plans have been restructured to enhance some of the major project development clusters to promote high-tech investments which are aligned with national aspirations. The projects undertaken will serve as catalysts to the development of MVV 2.0,” the Negeri Sembilan government and Sime Darby Property said.

“It is also aligned with the 11th Malaysia Plan Mid-Term Review where emphasis will be given to the high-tech industry segments which also cover the aerospace industry,” they added.

The state government and Sime Darby Property’s subsidiary MVV Holdings Sdn Bhd also signed a memorandum of agreement yesterday, which forms the basis for the continuity of the roles and functions of Sime Darby Property and the Negeri Sembilan government, through MVV Secretariat, in MVV 2.0.

“Sime Darby Property will be undertaking this project as the master developer, which allows us to extract and enhance the value of our land bank within the MVV 2.0 development area,” said Sime Darby Property chairman Tan Sri Dr Zeti Akhtar Aziz.

“We will take on key projects that will become among the principal drivers of the country’s future economic growth and social development. The company’s significant role in MVV 2.0 is a continuation of our commitment towards the development of Negeri Sembilan,” she added.

This article first appeared in The Edge Financial Daily, on Dec 14, 2018.

Click here for more property stories.

Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.
SHARE
RELATED POSTS
  1. Interstate travel allowed for individuals bringing parents to vaccination appointment
  2. Advancecon's MoU with Mydin to build rooftop solar power system falls through
  3. Govt allowed to approve supplementary expenditure without going through Dewan Rakyat