Malaysia Vision Valley 2.0 (MVV 2.0), a mega project spanning 153,411 hectares of land (double the size of Singapore) in Port Dickson at Negeri Sembilan and Nilai in Seremban, is expected to increase home purchases in the said areas.
“The development will open up new industries, and more businesses are expected to make MVV 2.0 their new home. As MVV 2.0 is focused on four key economic sectors which are all doing well amid the current market conditions, the build-up for housing is expected. We are looking at thousands of apartments and landed properties for locals and foreigners who will work and live in MVV 2.0,” said a property consultant based in Seremban.
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In particular, Sime Darby Property is the master developer of MVV 2.0. At present, the company owns 1,149 hectares within the mega project’s site, and has the option to purchase an additional 3,560 hectares from its parent firm Sime Darby Bhd within five years from its listing date.
Sime Darby Property Chairman Tan Sri Dr Zeti Akhtar Aziz revealed that being the master developer will allow the company to monetise and increase the value of its landbank within the massive development.
Notably, the property developer has been involved in Negeri Sembilan’s property market since 1997, when it launched a 720ha township in Nilai Impian. In 2012 and the subsequent year, it rolled out Bandar Ainsdale and Chemara Hills, respectively.
Aside from Sime Darby Property, the property consultant also believes that the announcement about MVV 2.0 will increase the appeal of existing housing projects in the vicinity, such as Iringan Bayu by OSK Property and IJM Land’s Seremban2by.
The mega project was launched two weeks ago by Negeri Sembilan Chief Minister Aminuddin Harun.
Its phase 1 involves 10,927 hectares of land that will be developed over 30 years. The first phase comprises six projects, namely a 1,135ha hi-tech industrial park, the 2,000ha World Knowledge City, the 2,000ha Biopolis and Wellness City, a tourism district and bird/river sanctuary (920ha), a zone for specialised and integrated logistics services (1,240ha), as well as an integrated transportation hub and downtown transit-oriented project (3,518ha).
Furthermore, it was recently reported that MVV 2.0 is anticipated to draw about RM294 billion of investments in three decades. These include a Chinese company that has pledged to invest about RM2 billion in Nilai.
Imaged sourced from The Edge Markets.
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