Frasers Property and Tan & Tan to jointly develop 5.15ha mixed-use site in Petaling Jaya, Malaysia
The site is going to be established in two phases, with the primary phase featuring non commercial property developments along with retail space and a park. Designed for families and working specialists, the homes are expected to be released for sale next year.
The joint venture partners will each hold an equal stake in the task, called PJ Quarter.
Frasers Property will be mutually establishing a 5.15 ha mixed-use place in Petaling Jaya, Malaysia, with Malaysian developer Tan & Tan Developments Berhad.
Meanwhile, the retail part is going to take the type of a low-rise, outdoor lifestyle spot with integrated community and public spaces.
Boasting a triple-frontage at a key crossway of Jalan Kemajuan and Jalan Profesor Diraja Ungku Aziz, the mixed-use venture is a short drive from a number of retail and recreational features, consisting of 3 Damansara, Jaya Shopping Centre, Retail @ Pacific, Mid Valley Megamall and The Gardens Mall.
Situated in Section 13 of Petaling Jaya, the master-planned precinct is envisioned as a lifestyle location that will secure the continuous restoration of the location, according to a joint news release provided on Aug 21.
2 well-known colleges– Universiti Malaya and International Islamic University Malaysia– are additionally within a 1km span of the site. The mixed-use development will also appreciate connection to the Greater Klang Valley via significant highways like the Federal Highway and Sprint Expressway.
Tan Yee Seng, CEO of Tan & Tan, pointed out, “The location is going to benefit from the federal government’s initiatives to invigorate Section 13 right into an even more liveable and vibrant center with environment-friendly connectors and pedestrian-friendly framework. We look forward to presenting novel retail experiences to the community, enhanced by a high end non commercial development made to appeal to a broad spectrum of homebuyers.”
” It represents a meaningful action in developing our development collection, via a disciplined, partnership-led strategy, focused on producing value for the long-term.”
” Drawing on our combined experiences in large, mixed-use property developments, we intend to establish a brand-new criteria for vibrant urban living in the area,” said Soon Su Lin, CEO of Frasers Property Singapore.
