Hong Kong is set to collaborate with Malaysia in a groundbreaking Transit-Oriented Development (TOD) project situated near a new terminal station. This significant alliance is the culmination of Hong Kong’s leader, John Lee’s visit to Malaysia during his tour of the ASEAN region.
The collaboration was formalized as MTR Corporation of Hong Kong inked a Memorandum of Understanding (MoU) with Malaysia’s Mass Rapid Transit Corporation (MRT Corp) on 28th July. The MoU sets out the blueprint for a transit-centric project, marking the beginning of a journey that stands to redefine urban planning and sustainable development.
As it stands, MRT Corp is spearheading the construction of the Malaysian portion of the Rapid Transit System Link Johor Bahru-Singapore (RTS), including the terminal station – Bukit Chagar RTS Station, and the Malaysian Immigration, Customs and Quarantine (ICQ) complex. The goal is to implement a TOD project adjacent to these locations, which is envisaged to not only generate sustained income for the railway project but also rejuvenate the neighboring areas.
MTR Corporation, renowned for its technical prowess, will be integral to this partnership. It will contribute to the technical design, construction planning, development mix, and investment modeling. Furthermore, it will help formulate strategic marketing approaches and assist in long-term planning for the surrounding areas. To streamline these efforts, both parties will establish dedicated working groups.
David Tang, the property and international business director of MTR Corporation, sees the MoU as an opportunity to share technical expertise in TOD implementation, offering citizens a cohesive experience of railway and property.
Datuk Mohd Zarif Hashim, CEO of MRT Corp, envisions the partnership as a catalyst for transforming Bukit Chagar into a thriving economic hub, leveraging on cross-border economies.
Hong Kong and Malaysia, in addition to this, have solidified their cooperation by signing 11 MoUs in various sectors during the week-long trip, raising the total to 33. John Lee, after fruitful discussions with the Malaysian Prime Minister, Dato’ Seri Anwar Ibrahim, and local business leaders, pledged to enhance cooperation in trade, investment, innovation, and cultural exchange.
In a move that underscores the strengthening ties between Hong Kong and Malaysia, the Malaysian government has extended visa-free entry for HKSAR passport holders from one month to 90 days. Lee sees this as a boost to tourism and business relations between the two regions, greatly benefiting HKSAR passport holders.
This news article is based on the reports by Marketing Interactive.