PUTRAJAYA, Dec 17 The revival of the Bandar Malaysia project is testimony of the good collaboration between Malaysia and China, said Prime Minister Tun Dr Mahathir Mohamad.
He said, like the East Coast Rail Link (ECRL), the Bandar Malaysia project is being pursued in the larger context of forging and underlining long-term bilateral and trade relations between Malaysia and China.
It is undertaken with a very clear objective � that such a project provides premium economic value to the country, the Prime Minister said in his keynote address at the Bandar Malaysia agreement signing ceremony between TRX City Sdn Bhd (TRXC) and IWH CREC Sdn Bhd (IWH-CREC) to develop Bandar Malaysia, at the Putrajaya International Convention Centre here today.
Dr Mahathir said the revised plan for Bandar Malaysia has taken into consideration the government's policy of ensuring that such a massive development project will be people-centric, add substantial value to the country's economy and in tandem with the philosophy of the government's Shared Prosperity Vision 2030 that it must boost the country's economic growth.
The revised development plan for Bandar Malaysia will ensure that it will be more inclusive and will be able to be aligned with Malaysia's socio-economic growth, he added.
The Prime Minister said Bandar Malaysia will have a significant impact on Malaysia's economy as it will serve as a hub to further attract high-impact global multinationals as well as allowing for the potential co-action in the fields of finance, technology and entrepreneurship.
With an expected gross development value or GDV of RM140 billion, it will generate a tremendous impact on urban development for Malaysia to further draw foreign direct investments, he said.
Dr Mahathir said the Bandar Malaysia project should also be viewed in the context of long-term development of over 20 years.
He outlined how it will have the opportunity to help shape Kuala Lumpur's direction in the next few decades; how as a potential transport hub it will change the way people travel; how as a commercial centre it can provide continuous boost for trade and innovation; and how as a liveable and sustainable development in this age of environmental consciousness, it can be a model of quality city living.
If it meets our (the government's) expectations, Bandar Malaysia will add value to the economy via substantive jobs creation, acceleration of retail and institutional demand for commercial and residential space.
Along the way, we will be moving small and medium enterprises up the value chain and stimulating demand for Malaysian-produced construction materials, technology and home-grown talents in advancing sustainable urban growth, he stressed.
The 486-acre Bandar Malaysia is the largest piece of development land in the heart of Kuala Lumpur. It is located at the site of the former Royal Malaysian Air Force base in Jalan Sungai Besi.
Bandar Malaysia aspires to be an exemplary mixed-development of the highest standard where nature, culture and creativity are integral parts of everyday life. It also aims to attract Fortune 500 global technology and entrepreneurial companies to establish their regional offices in Kuala Lumpur.
Source: Office of the Prime Minster Malaysia