News: Johor to See Rapid Economic Development Due to HSR and Forest City

Jan 4, 2018

Johor is expected to become more prosperous thanks to two large-scale projects, namely the US$100 billion (RM408.35 billion) Forest City project and the RM175 billion Singapore-Kuala Lumpur High Speed Rail (HSR).

In particular, the country’s southern state is expected to benefit immensely from the HSR, which will connect Jurong East in Singapore with Kuala Lumpur’s Bandar Malaysia.

This is because Johor will house three HSR stations: one each in Muar, Batu Pahat and Iskandar Puteri. In comparison, the other states of Melaka, Negri Sembilan, Selangor will each have only one, likewise for Kuala Lumpur.

Once it is operational by end-2026, the HSR will significantly reduce the travel time between Singapore and the Malaysian capital to just 1.5 hours. Currently, it takes four hours by car or bus and eight hours with the existing train.

On 20 December, Singapore’s Land Transport Authority’s wholly-owned unit SG HSR and Malaysia’s MyHSR Corporation jointly launched the tender for the HSR’s AssetsCo. This firm will be will be responsible for funding, constructing and maintaining all rolling stock in the HSR network. It will also design and run all of its rail assets like, power, signalling, trackwork, and telecommunications for the double-track line with a speed of 350kmh.

In line with this, both government agencies will jointly hold a tender briefing in Kuala Lumpur on 23 January, and interested bidders have until 29 June 2018 to submit their proposals.

Meanwhile, the Forest City development that comprises four artificial islands has just entered its second phase in December, with the unveiling of its very own golf resort jointly designed by world-famous golf course designer Jack Nicklaus and his eldest son Jack Nicklaus II.

With a gross development value of RM1.8 billion, the Forest City Golf Resort features a five-star hotel and three world-class golf courses, as well as villas and apartments.

Forest City’s phase II spans 10 sq km, or a third of the entire project’s area. Aside from the golf resort, it houses the builder’s Industrialised Building System (IBS) base.

The whole Forest City project is expected to be ready in two decades and is expected to generate 22,000 jobs and boost Johor’s economy.

Image sourced from The Straits Times

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Ahmad Darul Azhar bin Mohamed Ali
Real Estate Negotiator
Chester Properties Sdn. Bhd.
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