Sunway eyes land for transit-oriented devt projects

Sunway Property managing director, property development division for Malaysia and Singapore, Sarena Cheah

KUALA LUMPUR: Sunway Bhd is looking to acquire more land with good connectivity to new public infrastructure for transit-oriented development (TOD), said managing director of Property Division for Malaysia and Singapore, Sarena Cheah.

TOD refers to a type of urban development that maximises the amount of residential, business and leisure space within walking distance of public transport.

Cheah said the group had acquired five different plots of land in the Klang Valley, including in Kajang and Wangsa Maju, since January worth RM5.5bil.  

"It is important as we want to diversify our locations which are very well served by roads and public infrastructure such as the Mass Rapid Transit (MRT)  and Light Rapid Transit (LRT).

"So, we are looking for more land for TOD development, as when the MRT and LRT projects are completed, it will add value," she said.

She was speaking to reporters after the announcement on the opening of Sunway Hotels and  Resorts' newest venture, the Sunway Velocity Hotel.

The RM146mil Sunway Velocity Hotel will be the only transit-oriented, as well as the biggest and only integrated hotel in Cheras. - Bernama
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights


Next In Business News

HeiTech Padu wins RM36.2mil MySikap contract
Soaring gas prices ripple through heavy industry, supply chains
Glomac profit tumbles in May-July quarter due to lockdown�
High flying Opcom makes RM2.6mil net profit in Q1
KLCI steps back 1.42 points as telcos weigh
Maybank extends over RM77bil in repayment assistance to customers as at Aug 31
CIMB targets RM30bil in sustainable finance by 2024
Indonesian shares lead Asia recovery on Evergrande assurance
Oil prices rise over US$1 after report of big draw in U.S. crude stocks
Ecomate offers 49m new shares under IPO

Stories You'll Enjoy