RM15 Billion Township to Rise in Perak

Mangalesri ChandrasekaranNovember 14, 2016

 

Malaysia’s first motorsport-themed township will be built in Gopeng, according to Perak’s Chief Minister Datuk Seri Dr Zambry Abd Kadir.

Known as T-City, the mixed-use development will have a gross development value (GDV) of RM15.1 billion and will be built on a 184.5ha site by Singapore-listed Goodland Group and Citrine Capital.

“T-City will embody the smart city concept and involves three development phases with five key components, including the motorsport facilities and an entertainment hub,” said Zambry after the project’s groundbreaking ceremony on Friday (11 November).

“The other components are an automotive centre, retail and food industry outlets, a hotel and serviced apartments, alongside condominiums.” It will also feature comprehensive facilities and infrastructure, including a hospital, schools, parks, petrol stations and a land transport terminal.

The development’s first phase, which will span 80.9 hectares, is expected to be ready in 10 years and will include the country’s first Formula 2 race circuit that is set to be completed in June 2017.

Zambry said the township, which has been planned over the past three years, will not only improve Perak’s economic growth but also of the entire country. As such, it has been greatly supported by the National Economic Council, and PM Najib himself wants it to be successful.

Meanwhile, Goodland Group’s Executive Chairman Tan Chee Beng revealed that T-City aims to attract automobile fans, motor racing enthusiasts, and car lovers from across the region. He also hopes that it would become more vibrant and popular when it is fully completed in 15 to 20 years.

Goodland Group is a 23-year-old property developer with extensive holdings in the residential, industrial and commercial segments. On the other hand, Citrine Capital is a firm specialising in motorsport-themed commercial developments.

 

Mangalesri Chandrasekaran, Editor at PropertyGuru, edited this story. To contact her about this or other stories email mangales@propertyguru.com.my

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