Japanese and Chinese firms are aggressively fighting for the master developer role of the Bandar Malaysia project not because it is Malaysia’s most expensive piece of property, but because it is considered as a stepping stone to securing the contract for the Kuala Lumpur-Singapore high-speed rail (HSR) project, reported Asean Today.
This comes as the Kuala Lumpur terminus of the HSR link will be housed within the Bandar Malaysia project. As such, whoever emerge as Bandar Malaysia’s master developer will also have a good chance of clinching the HSR contract.
Building the HSR project cost between RM43 billion and RM65 billion, while the terminus will cost around RM50 billion to construct.
“They (bidders) must have also recognised the establishment and importance of the High-Speed Rail project and mass rapid transit, and how it can benefit the country,” said Second Finance Minister Datuk Seri Johari Abdul Ghani.
In fact, Tokyo and Beijing continually lobby Singapore and Malaysia for input in infrastructure and engineering projects.
Beijing has already bagged a RM55 billion deal with Kuala Lumpur for the construction of the East Coast Rail Line.
Meanwhile, two Japanese and seven Chinese firms have submitted proposals for the Bandar Malaysia project, which were reportedly valued at between RM30 billion and RM43 billion.
With the collapse of the deal with a consortium comprising Iskandar Waterfront Holding (IWH) and China Railway Engineering Corp (CREC) in May and the investment flow to Bandar Malaysia project expected to help 1Malaysia Development Berhad repay debts, the ministry will likely work harder to ensure that the new Bandar Malaysia deal push through.
Image sourced from FMT
This article was edited by the editorial team of PropertyGuru. To contact them about this or other stories email Editorial-MY@propertyguru.com.my
For the latest property news, trends, resources and expert opinions, visit our Property News section. Home buyers, sellers or property renters looking for Malaysian Properties, may like to visit the New Launches or Project Reviews page.
