Frasers Property and Tan & Tan to jointly develop 5.15ha mixed-use site in Petaling Jaya, Malaysia
Frasers Property will be mutually developing a 5.15 ha mixed-use site in Petaling Jaya, Malaysia, with Malaysian developer Tan & Tan Developments Berhad.
Boasting a triple-frontage at a vital intersection of Jalan Kemajuan and Jalan Profesor Diraja Ungku Aziz, the mixed-use venture is a short ride from numerous retail and recreational features, consisting of 3 Damansara, Jaya Shopping Center, Retail @ Pacific, Mid Valley Megamall and The Gardens Shopping mall.
Located in Section 13 of Petaling Jaya, the master-planned precinct is envisioned as a lifestyle destination that are going to anchor the recurring restoration of the area, according to a joint press release provided on Aug 21.
The location will be established in 2 stages, with the initial phase featuring non commercial property developments alongside retail space and a park. Designed for families and working professionals, the homes are expected to be launched for deals following year.
The conjoint venture associates are going to each hold an equal stake in the project, referred to as PJ Quarter.
At the same time, the retail part will definitely take the form of a low-rise, open-air lifestyle venue with combined community and public places.
2 well established universities– Universiti Malaya and International Islamic University Malaysia– are additionally inside a 1km span of the site. The mixed-use development will likewise enjoy connectivity to the Greater Klang Valley via major highways including the Federal Highway and Sprint Expressway.
” Drawing on our consolidated experiences in large-scale, mixed-use developments, we aim to set a new benchmark for vivid city living in the location,” claimed Soon Su Lin, CEO of Frasers Property Singapore.
Tan Yee Seng, Chief Executive Officer of Tan & Tan, said, “The location is going to benefit from the government’s efforts to invigorate Section 13 right into an even more livable and vibrant hub with environment-friendly connectors and pedestrian-friendly facilities. We look forward to introducing novel retail experiences to the community, enhanced by an upscale non commercial development created to appeal to a wide range of homebuyers.”
” It represents a purposeful step in expanding our development portfolio, with a disciplined, partnership-led strategy, focused on developing value for the long-term.”
