GROWTH CATALYST
Group says will engage with state and federal governments as initial pact with 2 parties has lapsed
SIME Darby Property Bhd is seeking fresh approvals from the government to develop the multi-billion ringgit Malaysia Vision Valley, says managing director Datuk Seri Amrin Awaluddin. The initial agreement with the Retirement Fund (Inc) and Brunsfield Development Sdn Bhd lapsed last year.
SIME Darby Property Bhd (Sime Property) is seeking fresh approval from the government to develop the multi-billion ringgit Malaysia Vision Valley (MVV), says managing director Datuk Seri Amrin Awaluddin.
Sime Property’s initial agreement with two local parties on the development covering 52,609ha in Negri Sembilan and Selangor had lapsed, he said.
The land is equivalent to about 75 per cent of the size of Singapore.
“The May 2017 memorandum of understanding with Retirement Fund Inc and Brunsfield Development Sdn Bhd lapsed late last year. So, we are seeking fresh approvals on the MVV,” said Amrin at Sime Property’s breaking of fast with children of special needs, here, on Thursday.
He said Sime Propery was engaging with the state and federal governments on the MVV future.
“Earlier this week, we met with Menteri Besar Aminuddin Harun and the response was promising because the MVV is a catalyst for Negri Sembilan.
“We will seek engagement with the federal government, particularly on approvals concerning economic affairs and transport.
“At this stage, it is preliminary to come to any conclusion on the MVV project,” he added.
Three years ago, former prime minister Datuk Seri Najib Razak, when tabling the 2016 Budget, announced the creation of MVV, an integrated economic development valley covering the western part of Negri Sembilan and south of Selangor.
The development is to cover towns such as Nilai, Seremban and Port Dickson, all in Negri Sembilan.
The 30-year project is expected to attract about RM290 billion investments, create 1.38 million jobs and generate between 6.2 and 7.3 per cent annual economic growth.
MVV will have five strategic clusters, namely Edu-Tech Valley, Tourism and Wellness, New Livable township, Central Business District and Nature City.
Meanwhile, on the government’s cancellation of the Kuala Lumpur-Singapore high-speed rail project, Amrin acknowledged that the planned Pagoh and Labu stations were located on land belonging to Sime Property.
He said the company would continue to focus on its existing developments, such as Bandar Universiti Pagoh, which is Malaysia’s first multi-varsity education hub.
“Our land between Nilai and Labu is also well-positioned to leverage the government’s construction of highway connecting Nilai, Labu and Bandar Enstek, near the Kuala Lumpur International Airport.
“The Greater Kuala Lumpur southward growth trend will bring catalytic developments encapsulated by the MVV project,” added Amrin.