Project launch in July or August
The global launch of the much-anticipated Malaysia Vision Valley (MVV) project is expected to be in the third quarter of this year.
Negri Sembilan Menteri Besar Datuk Seri Mohamad Hasan said it was expected to be launched in July or August, depending on Prime Minister Datuk Seri Najib Razak’s schedule.
He said it could also be launched after the Sea Games, which would end on Aug 30.
Mohamad said it was practical to expand the Greater Kuala Lumpur or Klang Valley region by developing a greenfield area into a new urban area complete with infrastructure, such as public transport and housing.
“People cannot afford to buy homes in Kuala Lumpur, but in MVV, we will ensure that there is affordable housing.
“In the first phase itself, 404ha of land have been earmarked for affordable housing,” said Mohamad after attending the inking of a memorandum of understanding on the big ticket project involving Sime Darby Property Bhd, Brunsfield Development Sdn Bhd and Kumpulan Wang Persaraan here yesterday.
He said the concept of the MVV was “From the Mountain to the Sea”, adding that 1,400ha within Bukit Mantin had been gazetted as a green lung, followed by the Central Park, which is some 400ha, as well as a bird sanctuary and mangrove area.
Mohamad said this would later become part of Kuala Lumpur’s green lung.
“Like it or not, in 10 or 15 years’ time, KL and Seremban will be one entity. Like how Klang has evolved to be part of KL,” he said.
Asked if there were encumbrances to the land involved, Mohamad said as it was mostly private land, so such issues did not arise. He said there would be no displacement of people unless it was absolutely necessary.
“People can, however, reap the benefits from its spill over.”
Asked if the property in the MVV would boom and prices skyrocket, he said: “It’s good we unlock the value. If not, it will be a cold market.”
He said the three parties would use a special purpose vehicle in relation to the development of industrial parks, central business district and the Kuala LumpurSingapore High-Speed Rail station in Labu.
About 400ha are earmarked for affordable housing in the first phase of Malaysia Vision Valley.