KTMB earmarks Klang Valley locations for real estate development

ZAFIRA ANWAR


KUALA LUMPUR: Keretapi Tanah Melayu Bhd (KTMB) has started venturing into the real estate industry, with three locations of its upcoming Transit Oriented Development (TOD) already identified in the Klang Valley.

KTMB procurement general manager, who is also acting president, Mohd Hider Yusoff, said the project, to be developed in Bangi, Shah Alam and Klang, is a form of urban development that maximises the amount of residential, business and leisure space within walking distance to its train stations.

“Last year, we received approval from the government to develop these areas. The success of the project will contribute to KTMB's profitability.

“It will be a joint venture with developers and right now, for Bangi, we have requested for their proposals to be sent by April for evaluation," said Hider, adding that the projects would be done in phases and would take four years to complete.

Hider was speaking at a press conference after signing a Memorandum of Understanding with Japan's Seibu Railway Co Ltd which would last for two years.

He said much could be learnt from Seibu Railway as the company had expanded beyond public transportation service venturing into property development, tourism and sports.

Keretapi Tanah Melayu Bhd (KTMB) has started venturing into the real estate industry, with three locations of its upcoming Transit Oriented Development (TOD) already identified in the Klang Valley.