Kuala Lumpur’s proposed Mass Rapid Transit (MRT), project set for completion between 2016 and 2020, could see an appreciation of between 11-35% per annum in property prices says HwangDBS Vickers Research, specifically around KLCC-Bukit Bintang, KL Sentral, Pusat Bandar Damansara-Damansara Heights, KL Eco-City-MidValley and Sentul areas.HwangDBS Vickers Research associate director Yee Mei Hui said, in comments reported by mysinchew.com, that the appreciation is being driven by higher selling prices for end properties, higher plot ratios and more commercial zoning, worth an estimated RM210 billion to Malaysia’s economy over 10 years.
The MRT project under the Greater Kuala Lumpur Plan is the largest infrastructure development ever undertaken by Malaysia and property players looking for land banks now need to move fast, Yee Mei Hui advised.
Properties near the MRT are expected to have premiums of 20 to 30% and the top picks named by HwangDBS Vickers Research are YTL Land & Development Bhd, Selangor Properties Bhd, Guocoland (M) Bhd, Bolton Bhd and SP Setia Bhd, which have the highest Revalued Net Asset Value exposure to potential interchanges.
The government has kick-started a three-month public display of the approved MRT Blue Line to gain feedback from the public and the MRT project would likely hug major highways, which is likely to minimise land acquisition cost and construction delay.
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