1 April, KUALA LUMPUR – The proposed iconic Transit-Oriented Development (TOD) projects would serve as a game-changer in helping to transform urban housing development, says Perbadanan PR1MA Malaysia (PR1MA).
Its chief executive officer Datuk Abdul Mutalib Alias said the TOD developments would have an estimated gross development value (GDV) of over RM1 billion.
The first phase is scheduled to start in the fourth quarter of this year, involving two locations along the Light Rail Transit (LRT) line network, which are Cempaka and Pandan Jaya, to be followed by Pandan Indah, PR1MA said in a statement here today.
Speaking at a closing ceremony of the Ekspo Jualan Perumahan Ke Arah Sejuta Impian, Alami Gaya Hidup Sejahtera national edition, he pointed out that PR1MA delivers more than just brick and mortar.
PR1MA aims to develop an integrated, vibrant and active communities that provide wealth-creation and socio-economic development opportunities for the people, while promoting social cohesion and harmony among the community, he added.
The closing ceremony was officiated by Finance Minister II Datuk Seri Johari Abdul Ghani.
The expo held from March 24 till April 1 at the Putra World Trade Centre, involved multiple federal and state housing agencies and organised to create awareness and encourage home ownership among the people from both the M40 and lower income (B40) groups.
To date, PR1MA said it has been granted land in a total of eight locations along the LRT network to be developed using the TOD model. The other six locations are Pandan Indah, Titiwangsa, Sentul, New Town, Jelatek, Kinrara and Bandar Puteri.
TOD is an integrated residential concept located close to the workplace, school, healthcare, education, commercial centres, and integrated public transport networks such as the LRT and Mass Rapid Transit (MRT), which will directly increase the mobility and productivity of the community.
PR1MA said it is an increasingly popular residential and commercial property development model, particularly in major cities in the world such as Hong Kong, Tokyo, Singapore and Washington, to maximise land use in urban or sub-urban areas as well as encouraging public transport.
Typically, TOD developments are usually catered for the higher income groups due to their strategic locations.
However, the new approach by PR1MA will help ensure the middle income (M40) group could also benefit from the shorter commute, lower personal transportation costs and easy access to daily needs, which will inevitably help to reduce the living cost among the citizens.