Bandar Malaysia: A 50-Year Vision for a Mixed-Use Development
Background and History
The site for Bandar Malaysia was formerly an air force base along Jalan Sungai Besi in Kuala Lumpur. (File pic)
Development Timeline and Vision
The complete development of the RM140 billion Bandar Malaysia project is expected to take half a century, according to finance minister Anwar Ibrahim. The sale of the 486-acre (196ha) land from Bandar Malaysia Sdn Bhd (BMSB) to Petronas subsidiary KLCC (Holdings) Sdn Bhd (KLCCH) was on the principle of "willing buyer, willing seller", taking into account the strategic, long-term goals of the project.
Government’s Focus on Inclusivity
Anwar, who is also the prime minister, emphasized that the project will be developed by KLCCH’s subsidiary, KLCC Development Sdn Bhd (KLCCD), and that it would consider the government’s focus on inclusivity. This includes the provision of 10,000 units of affordable homes with open spaces and parks, as well as the preservation of 50 acres of Malay reserve land.
Commercial Viability and Development Plan
The Bandar Malaysia project will be developed in a controlled manner to ensure its commercial viability, taking into account the dynamics of the property market’s supply and demand. Based on the size of the Bandar Malaysia land, the total development is expected to take around 50 years.
Confidence in KLCCD’s Ability
Anwar reiterated that the Treasury was confident in KLCCD’s ability to develop the project and thereby add substantive value to the nation’s economy.
Previous Delays and Controversies
The project had faced multiple delays before being postponed indefinitely in 2021 when agreements with the consortium IWH-CREC fell through. Despite these challenges, the developer is known for building and managing key properties in Kuala Lumpur City Centre and Putrajaya.
Conclusion
The Bandar Malaysia project is a significant development that will transform the area into a mixed-use transit-oriented development, integrating various transportation networks, including the Kuala Lumpur-Singapore high-speed rail line. With a 50-year development plan, the project is expected to create a vibrant and sustainable community, offering a range of housing options, commercial spaces, and recreational areas.
Frequently Asked Questions
- What is the estimated duration of the Bandar Malaysia project?
- The project is expected to take around 50 years to complete.
- What is the focus of the government on the Bandar Malaysia project?
- The government is prioritizing inclusivity, with a focus on providing 10,000 units of affordable homes, open spaces, and parks, as well as preserving 50 acres of Malay reserve land.
- Who is developing the Bandar Malaysia project?
- KLCCH’s subsidiary, KLCC Development Sdn Bhd (KLCCD), is developing the project.
- What is the estimated cost of the Bandar Malaysia project?
- The estimated cost of the project is RM140 billion.