PETALING JAYA: IJM Corp Bhd
’s latest transit-oriented development (TOD) initiative is expected to strengthen its presence in the Klang Valley property market, while advancing its strategy of pursuing quicker project monetisation through developments linked to public transport infrastructure.
The project, known as The Linque, marked the first collaboration between IJM’s wholly owned unit, IJM Land Bhd, and MRT Corp Sdn Bhd. It also represents MRT Corp’s maiden TOD venture in the Klang Valley.
CIMB Research said the project, with a gross development value (GDV) of RM600mil, is consistent with IJM’s evolving property strategy.
“The Linque is in line with IJM’s strategic pivot towards quick-turnaround projects that complement the group’s core strengths in township development,” the research house said.
At this juncture, CIMB Research said it retains its earnings forecast for IJM pending further details on the project.
The research house maintained a “buy” call on IJM and left its sum-of-parts-based target price unchanged at RM2.95.
Meanwhile, an analyst told StarBiz that he views the collaboration between IJM and MRT Corp as a positive trend towards integrated developments that maximise the value of land surrounding public transit assets.
Such projects can create sustainable long-term demand by combining residential, retail and mobility components within a single ecosystem, he opined.
“This collaboration could strengthen IJM’s positioning for future rail-linked development opportunities, given that it establishes a working relationship with MRT Corp,” the analyst with a local research house said.
“Beyond the immediate earnings contribution from The Linque, the project may enhance IJM’s visibility in the high-density Kuala Lumpur property market and broaden its pipeline of strategically located developments,” he added.
Among The Linque’s distinguishing features is its direct connection to the Cochrane Mass Rapid Transit (MRT) Station through a passenger lift leading straight to the station’s concourse level.
CIMB Research said the project could emerge as one of the more attractive TOD schemes in Kuala Lumpur.
“Located within the busy Jalan Cochrane neighbourhood, we believe that The Linque will emerge as one of the more compelling TOD initiatives, based on three factors.
“Cochrane Station is strategically located, being just one stop away from the Maluri and TRX MRT stations.
“It sits close to major commercial hubs (such as The Exchange TRX), is steps away from MyTown, IKEA, and Sunway Velocity, and is near neighbouring healthcare facilities and educational institutions.
“It also benefits from excellent connectivity via the Maluri MRT station, which serves as an interchange for the MRT Kajang Line and LRT Ampang Line.”
While details on the size and pricing of the serviced apartments have yet to be disclosed, the research house pointed to market benchmarks in the vicinity.
According to CIMB Research, data from property portal Brickz showed median transacted prices at the neighbouring One Cochrane Residences were approximately RM1,050 per sq ft (psf).
For ongoing projects, asking prices at Sunway Cochrane – which was launched in October 2025 and sits adjacent to The Linque – averaged between RM1,050 and RM1,319 psf based on PropertyGuru listings.
For context, IJM recently announced that IJM Land and MRT Corp will jointly develop The Linque, a TOD adjacent to the Cochrane Station in Cheras, Kuala Lumpur.
The project, with an estimated GDV of RM600mil, will comprise 586 serviced apartment units and a retail component.
Its development order was submitted on June 10, 2026, with the venture carrying additional significance as IJM’s first partnership with MRT Corp and MRT Corp’s inaugural TOD undertaking in the Klang Valley.
