The different sectors of the economy must leverage on the high speed rail (HSR) project currently being planned between Kuala Lumpur and Singapore, said MKH Bhd managing director Tan Sri Eddy Chen.
He said long-term planning was crucial and highlighted the Japanese example of how its shinkansen (high speed rail) opened up new integrated townships along its route.
Speaking at the “Invest and succeed in mixed use development” seminar organised by Malaysia Property Inc last Thursday, Chen, who is also Malaysia Shopping Malls Association president, said the connectivity would help to create a slew of new industries.
Sungai Buloh-Kajang Mass Rapid Transport (MRT) has changed the real estate scene in Kajang, the HSR is expected to be an even greater game changer, he said.
Land prices around Kajang has increased from RM7-RM8 per sq ft to RM17 per sq ft as a result of the MRT.
Chen said: “It does not seem to matter to them that the MRT is scheduled for completion only in 2017. The MRT has helped to close the gap between the city and Kajang. We are seeing Kajang apartments now selling between RM400 and RM500 per sq ft. These are prices at Mont’Kiara and Seri Hartamas.
“Perception and reality do not match, but perception is playing an important role,” he said.
He said every town that the HSR would be passing through has the potential to be turned into an integrated city.
Chen advocated working towards marketing Seremban as an enterprise or tech valley or regional headquarters for biotechnology because it is near research and training centres. Malacca’s tourism potential can be strengthened as visitors need not drive once the HSR is operational.
He identified car rental and clipper buses services that offer several hop on-hop off stops.
Visitors may continue their journey to Singapore after that.
The HSR would make such day trips spontaneous. There would be a need for malls, new hotels and other forms of rental arrangements and location logistics services, he said.
On whether the HSR would benefit Singapore or Malaysia more, Chen said Singapore would benefit from any development around it.
