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Bandar Malaysia Development to start with a settlement of RM1.24 billion

Kuala Lumpur, 19 October 2020 – Bandar Malaysia development is now ready to take off with the settlement of the RM1.24 billion payment paid by IWH-CREC, a joint venture between Iskandar Waterfront Holdings and China Railway Engineering Corp.

IWH-CREC will be inviting qualified local and foreign investors, developers, consultants and contractors to submit their proposals to participate in this development. Participation from local talents and local companies are highly encouraged.

Bandar Malaysia will be home to an integrated transport development. The MRT Line 2 has already designated two stations in Bandar Malaysia, which is set to be completed by 2021. In addition, the Setiawangsa Pantai Expressway will be linked to 12 highways into Kuala Lumpur.

To be developed over the next 20 years, Bandar Malaysia will shape the future direction of Kuala Lumpur by offering a liveable new lifestyle city with modern infrastructure. In addition to providing Grade A office premises, it will encompass other key components like hotels, shopping, healthcare, education and wellness facilities. There will also be 10,000 affordable homes to benefit low- and medium-income groups.

The total RM140 billion smart city development will feature integrated components covering finance, technology, medical science, education, tourism and entrepreneurship. It is also designed to attract multinational corporations and finance institutions, which will increase employment opportunities for the public.

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