The 483-acre Bandar Malaysia project (located on the site of the former Sungai Besi Air Force base) is estimated to generate RM140bil in gross development value (GDV) while attracting foreign direct investments.
ON the face of it, the massive Bandar Malaysia project, to be developed over prime land valued at over RM12bil, seems like the grand prize that any property developer would hope to win. However, the reality is that the developers of the project will have a long, winding path, fraught with challenges.
Even before the first brick has been laid down on the development, many are questioning if the master developers – under tycoon Tan Sri Lim Kang Hoo - will be able to pull this off. Observers say the key issue will be in terms of maximising value from the 484-acre land, given that a significant chunk of it will have to be set aside for affordable homes, “green lungs” and infrastructure – from which they will not see much returns, if any.
Limited time offer:
Just RM5 per month.
