Prasarana’s first property job in Kuantan, first one outside Klang Valley has GDV of RM200mil

By THE STAR

PETALING JAYA: Syarikat Prasarana Negara Bhd’s maiden property project outside the Klang Valley is earmarked to be in Kuantan with gross development value (GDV) of about RM200mil.

Prasarana, which had started its stage bus operation in Kuantan via RapidKuantan last year, has been given 10-acre by the state government to develop a bus depot as well as property development.

According to Prasarana Integrated Development Sdn Bhd chief executive officer Rudyanto Azhar, the land was adjacent to Kuantan’s new express bus terminal in Indera Mahkota, known as Terminal Sentral Kuantan.

“We have closed the tender for the mix property development in Kuantan and we hope to issue the letter of award to a reputable property developer in October.

“The property development will assist Prasarana not only to create extra income to support its bus operation there but also to increase ridership in that area.

“We started in Kuantan with only 60 buses for three routes but now it has increased to 100 to 150 buses servicing 12 to 13 routes,” he told StarBiz recently.

Rudyanto said the Land Public Transport Commission (SPAD) was assisting Prasarana with interim stage bus support fund.

In Kuala Lumpur, Rudyanto said that the property development projects in Taman Tun Dr Ismail (TTDI), Ara Damansara, Brickfields and Dang Wangi were slated to begin in the first quarter of the next year.

“We are still under the planning stage for all the four developments here as we have not gone to the ground yet mainly because of land title transfer matters that could take a while.

Rudyanto added that other matters that could prolong the process included the need for discussions with the local authorities so that the projects to be undertaken would be line with other developments in the vicinity.

“For example, our developments in Dang Wangi and Brickfrields have to be in line with the River of Life project,” he pointed out.

The GDV for TTDI, Dang Wangi, Ara Damansara and Brickfields are worth RM155.3mil, RM1.03bil, RM687.6mil and RM1.2bil respectively.

On future developments in the Klang Valley, he revealed that Prasarana also planned to start property development projects in Puchong adjacent to the IOI Mall and Awan Besar in Kuala Lumpur.

“We have already issued the letter of award to IOI Properties for the mixed-development project which consists of retail, offices and residential which will be connected with the mall and the light rail transit (LRT) station.

“The GDV for this development is about RM500mil on seven-acre that will also include the new LRT station ,” he said.

As for Awan Besar project, Rudy explained that Prasarana was still in the midst of negotiations with the private land owners.

– Malaysia Property News

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