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.
any detail where is the land? four tower blocks of service apartments of 1,300 units with some retail space is huge
Sep 11 2013, 07:03 PM
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