17 May 2017

Malaysia PM announces next Bandar Malaysia milestones

Malaysia PM Najib Razak has a vision of capital city Kuala Lumpur as "one of the leading capitals of the world, driving forward Malaysia’s national transformation" with the Bandar Malaysia project.

The biggest development site in Malaysia is envisioned to be a new city centre for Kuala Lumpur, hosting residences as well as businesses. "Rather than just office and residential towers, we want Bandar Malaysia to be a catalyst for fast-track economic development and employment, including the new KL Internet City – the key hub of the world’s first Digital Free Trade Zone. We want to create an iconic development to drive tourism. And we want to create a transport nucleus for Malaysia, with Bandar Malaysia set to host the Kuala Lumpur to Singapore high speed rail, MRT lines, KTM Komuter, Airport Express Rail Link and 12 highways," he said in a statement.

PM Najib announced the appointment of Tan Sri Dr Mohd Irwan Serigar Abdullah, Secretary General of Treasury, as the Chairman of both TRX City and Bandar Malaysia, and added that the Ministry of Finance will retain 100% ownership of Bandar Malaysia.

TRX City and Bandar Malaysia will begin a request for proposal (RFP) process, inviting expressions of interest for the role of master developer of Bandar Malaysia, PM Najib added. "The selection process for the master developer will involve very strict criteria, including a proven track record, speed of delivery, content creation, and the financial capability to deliver a project of this scale. The highest possible value will be sought to ensure that the best deal for the taxpayer is obtained," he said.