Frasers Property and Tan & Tan to jointly develop 5.15ha mixed-use site in Petaling Jaya, Malaysia
The shared business venture partners will each hold an equal stake in the project, called PJ Quarter.
Tan Yee Seng, Chief Executive Officer of Tan & Tan, mentioned, “The site will gain from the government’s efforts to renew Section 13 right into an even more livable and dynamic hub with eco-friendly connectors and pedestrian-friendly infrastructure. We look forward to launching novel retail experiences to the community, enhanced by a high end housing development designed to appeal to a broad spectrum of property buyers.”
” Drawing on our combined experiences in large, mixed-use developments, we aim to establish a new criteria for lively metropolitan living in the place,” stated Soon Su Lin, Chief Executive Officer of Frasers Property Singapore.
Boasting a triple-frontage at an essential junction of Jalan Kemajuan and Jalan Profesor Diraja Ungku Aziz, the mixed-use venture is a short ride from several retail and recreational amenities, including 3 Damansara, Jaya Mall, Retail @ Pacific, Mid Valley Megamall and The Gardens Shopping mall.
” It represents a significant action in developing our development profile, with a disciplined, partnership-led method, concentrated on creating value for the long-term.”
Two established universities– Universiti Malaya and International Islamic University Malaysia– are likewise inside a 1km span of the site. The mixed-use property development will likewise appreciate connection to the Greater Klang Valley through significant freeways like the Federal Highway and Sprint Expressway.
Situated in Section 13 of Petaling Jaya, the master-planned precinct is visualized as a lifestyle place that are going to secure the ongoing rejuvenation of the area, according to a joint news release provided on Aug 21.
The location will be developed in two phases, with the first stage featuring non commercial property developments alongside retail space and a park. Designed for families and working specialists, the homes are expected to be introduced for sale following year.
On the other hand, the retail part will take the kind of a low-rise, al fresco lifestyle destination with combined neighborhood and public spaces.
Frasers Property will be mutually creating a 5.15 ha mixed-use place in Petaling Jaya, Malaysia, with Malaysian developer Tan & Tan Developments Berhad.
