Another 1,300 units


KUALA LUMPUR: Syarikat Prasarana Negara Bhd has awarded its latest property development project with a gross development value (GDV) of RM591.5mil in Awan Besar to SM Land Sdn Bhd.

Awan Besar in Bukit Jalil is one of the stations along its light rail transit (LRT) extension project.

Prasarana is a wholly owned Government company that owns and operates the Ampang and Kelana Jaya LRT lines and KL Monorail as well as bus operations in the Klang Valley, Penang and Kuantan.

Group managing director Datuk Shahril Mokhtar told StarBiz that Prasarana gave SM Land the first right of refusal to develop the 2.16ha land, as it was the previous owner of the said parcel before Prasarana bought over the land.

“Nevertheless, SM Land would jointly develop the land with a reputable and large developer, Satria Perdana Sdn Bhd, an affiliate company of Putrajaya Perdana Bhd.

“We plan to build four tower blocks of service apartments of 1,300 units with some retail space. The beauty of this development is that it would be adjacent to our Awan Besar station, one of the biggest stations along our LRT extension project, that would include 1,802 parking bays,” he said.

This latest development in Awan Besar is the sixth property plus rail development to boost its non-fare revenue, bringing total GDV to approximately RM4.2bil.

It has been reported earlier that most of these planned projects would start physical construction by next year.

Prasarana has begun to extensively work on property projects along its existing LRT lines and their extensions since it undertook a massive corporate restructuring exercise to further improve its position as an urban public transport provider as well as to strengthen its revenue-generating capabilities.

Towards this end, it has formed four new subsidiaries namely Rapid Rail Sdn Bhd, Rapid Bus Sdn Bhd, Prasarana Integrated Management & Engineering Services Sdn Bhd (Prime) and Prasarana Integrated Development Sdn Bhd (Pride) to give its operations more focus and greater freedom to grow.

Shahril stressed that Prasarana must expand its non-fare revenue business like property under the transit-oriented development (Tod) concept to support its core business of providing world-class public transport services to the public.

“As the public transport fare system is structured, there is not much creative strategy that Prasarana can come up with to create revenue opportunity from here.

“The Tod approach, however, should allow Prasarana to diversify its source of revenue through the sale of property and the renting of office as well as retail space, thus, giving it the bigger option of strengthening its urban public transport services,” he said.

Shahril said armed with infrastructure like stations, depots and parking complexes, its strategic business unit Pride has emerged as the best Tod partner for local construction companies.

“Pride can tie-up with these companies to develop areas surrounding the LRT stations into commercial or residential zones, whose communities can take advantage of the urban rail public transport services to address their commuting needs.

“This would trigger the transit-oriented community concept in the country,” he said, adding that the Tod concept would be an enabler to promote a sustainable, mobile and connected lifestyle.

He also pointed out that Tod also allowed a more robust increase and sustainable flow of ridership.

On the national agenda, Shahril said the Tod concept would also ensure less dependence on private vehicular use, with reliance only on the public transport modes of either the bus or rail.

“This would lead to a cleaner and better urban environment for city dwellers as a whole,” he said.

This post has been edited by UFO-ET: Sep 10 2013, 09:29 AM

Commercial shoplot in Bkt Jalil Jalil has great potential.
Latest Malton shoplot (unofficial) :-
3-Storey (no lift) - 4.0 mil
5-storey (lift) - 6.8 mil

This post has been edited by UFO-ET: Sep 10 2013, 09:36 AM

Carpool? Yes

Ho Hup 5 Storey already transacted at 6 mil (sub sale)

KR. ZE, RR, KM1 rental mkt will be affected seriously

Opposite Sri Rakyat, now hard to get.
Malton SA also LCLY....
I miss many chances..

My Fren has just purchased The Link 5-Storey at 4.2 mil. There is no doubt that Jalil City shoplot will perform much better than The Link, but 6.0 mil is really tough to swallow.
Sunway The Geo also price 8.3 mil liao
Thus some millionaires can't even buy 2-3 commercial shoplots nowadays, another 15-20 yrs, our commetcial property price will catch up HK current price tag already

Honki rich man game formula "Never Sell!"
They could hv kept the said property for more than 40 yrs, buying price could be HK 1 mil nia, rental could reach 400K-500K no joke

The Link shop facing main road 8-9K, 1st - 3th average 2,500. Some who rent in early days are renting at RM12K-13K for the entire building
Local business is shrinking year by year, I do not know how these shoplots operator who run normal F&B business can last for how long, what I can see is "New" shoplot owner is damn greedy in charging high rental until to the extend that kills the tenant's business, we notice this happen in Sri Petaling, Puchong, BJ or even Kota Damansara.
The Link was priced 1.48 mil - 1.68 mil when launched by Berjaya

720/sf shd be

700 or below shd hentam gao gao

Shop habis liao, buy Malton one lah, pay under table also dunno can get or not, anyway you shd stop buying shop aleli, give other people chance to buy

Just get ready yr cheque. Unofficial launch date early Oct
Corner 5-Storey no more, price 8.2 mil, total bout 100 units

My hero....

Why not? Look at wat they hv now, then you will understand.
Do check their stock price in the last one year too and compare the current closing

In my history of property investment, only Hong Leong Bank rejected my case before, I hv taken loans fr 7 banks so far. HLB has a very strict loan assessment, for me I also black listed them forever.

Good response! Very futuristic design
Wat I doubt is can it really for residential use also?

Indeed they are quite famous in the 90's, the founder is a genius, Ho Hup is the biggest construction company in Malaysia back then. Sad to see the successor is not capable to handle the company

48 mths, worth to bet!

My 3 clients bought 6 units