Frasers Property and Tan & Tan to jointly develop 5.15ha mixed-use site in Petaling Jaya, Malaysia
The site is going to be developed in two stages, with the initial phase presenting residential property developments together with retail space and a park. Developed for families and working professionals, the homes are expected to be released for sale following year.
Frasers Property will be mutually developing a 5.15 ha mixed-use spot in Petaling Jaya, Malaysia, with Malaysian developer Tan & Tan Developments Berhad.
” Drawing on our combined experiences in large-scale, mixed-use property developments, we intend to establish a brand-new standard for vivid metropolitan living in the place,” claimed Soon Su Lin, Chief Executive Officer of Frasers Property Singapore.
Situated in Section 13 of Petaling Jaya, the master-planned precinct is visualized as a lifestyle destination that are going to anchor the recurring renewal of the area, according to a joint press release issued on Aug 21.
Two established colleges– Universiti Malaya and International Islamic University Malaysia– are additionally throughout a 1km distance of the site. The mixed-use development will also experience connectivity to the Greater Klang Valley via significant freeways like the Federal Highway and Sprint Expressway.
” It represents a significant action in developing our development profile, through a disciplined, partnership-led approach, focused on producing value for the long term.”
At the same time, the retail component will take the kind of a low-rise, al fresco lifestyle spot with incorporated area and public spaces.
Boasting a triple-frontage at a crucial intersection of Jalan Kemajuan and Jalan Profesor Diraja Ungku Aziz, the mixed-use venture is a short ride from several retail and recreational amenities, including 3 Damansara, Jaya Shopping Centre, Retail @ Pacific, Mid Valley Megamall and The Gardens Shopping mall.
Tan Yee Seng, Chief Executive Officer of Tan & Tan, said, “The location will take advantage of the federal government’s initiatives to invigorate Section 13 right into a much more livable and vivid center with eco-friendly connectors and pedestrian-friendly infrastructure. We look forward to launching novel retail experiences to the community, enhanced by an upscale housing development made to appeal to a wide range of homebuyers.”
The conjoint project partners will each hold an equal stake in the task, referred to as PJ Quarter.
