MALAYSIA: Hong Kong’s MTR Corp has signed a memorandum of understanding to support the planning of transit-oriented development at Bukit Chagar station on the future cross-border metro linking Johor Bahru and Singapore.
Malaysian project promoter MRT Corp is looking to generate a sustainable source of income for the Rapid Transit System and to initiate the regeneration of the area surrounding the station, which will house the Malaysian immigration, customs and quarantine complex for the line.
‘We aim to rejuvenate Bukit Chagar as an economic hub in Johor Bahru, capitalising on cross-border economies’, explained MRT Corp CEO Mohd Zarif Hashim when the MoU was signed on July 28.
MTR Corp’s Property & International Business Director David Tang said the operator had been ‘making good use of the “Rail plus Property” model to support railway operations and the development of Hong Kong.
‘The corporation utilises the profits that our property developments bring in to support the operations and long-term maintenance of railway, as well as to finance new railway projects. The model also enables the corporation to build many sustainable and lively communities by integrating railway, residential and commercial elements.’
