Hong Kong will join Malaysia in developing an economic hub in southern Johor, near the Singapore border, as Malaysia looks to tap the land development potential near the site of an upcoming cross-border rail link.
Malaysia’s MRT Corp. and Hong Kong’s MTR Corp. signed a memorandum of understanding to develop a six-acre land for mixed-use in Bukit Chagar on Friday, as part of Hong Kong Chief Executive John Lee’s visit to Malaysia.
The development, worth 3 billion ringgit ($876.8 million), will come up less than one kilometre from the Malaysia-Singapore border. The location is also the site of the under-construction Bukit Chagar terminus station that’s part of the Johor Bahru-Singapore Rapid Transit System.
“The intended mixed development is expected to transform the area into an attractive investor destination, for local and international investors,” MRT Corp.’s Chief Executive Officer Mohd Zarif Hashim said at a briefing.
The RTS project, which is expected to serve up to 10,000 commuters per hour in every direction, is due for completion in 2026. It is expected to ease traffic congestion at Malaysia and Singapore’s land border crossing, one of the world’s busiest. The four-kilometre tansit has two stations — Bukit Chagar in Johor and Woodlands in Singapore.
Source: https://www.theedgesingapore.com/news/global-economy/malaysia-hong-kong-plan-economic-hub-near-singapore-border