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Tuesday, March 2, 2010

Sime Darby Prop awaits approvals for Selangor Vision City

SHAH ALAM: Sime Darby Property Bhd is awaiting the approval from the state and federal governments on its plans for its proposed 10,861-acre (4,395ha) Selangor Vision City (SVC) development, said its managing director Tunku Datuk Putra Badlishah Tunku Annuar.

Speaking to reporters after a presentation of the SVC development to Selangor Menteri Besar Tan Sri Abdul Khalid Ibrahim here today, Tunku Badlishah said the proposal had taken a while as it was a massive project.

According to Sime Darby Property, 3,450 acres of SVC's 10,861 acres have already been developed.

The SVC is located along the Guthrie Corridor Expressway (GCE) from Lagong to Bukit Jelutong where 11,000 acres of the proposed 45,175 acre stretch belong to Sime Darby. It would also incorporate existing townships such as Subang Jaya and Bukit Jelutong.

At a separate event in i-City later, Khalid said he hoped to announce the status of the application by Sime Darby Property next month through the regular approval process.

The idea for the SVC was first mooted in 2007, while a masterplan, the Sime Darby Vision Valley (SDVV), was unveiled in 2009. The SDVV, comprising the SVC and the Negri Sembilan Vision City, is expected to generate a gross development value (GDV) of up to RM30 billion and span over two decades.

It has been reported that the entire SVC project will have an estimated GDV of RM10 billion and is envisioned to be the backbone of the northern Shah Alam and southern Selayang areas.

"Instead of doing this project piecemeal, we are trying to get the entire approval under a special area plan, which also involves getting approval at the federal level," said Tunku Badlishah. "There will be a meeting with the (federal planning) authorities on March 17, and once they are okay with this, we can move ahead with details."

He said Sime Darby Property was "always open" to joint-ventures with other developers, although it was not talking to any party now.

"The project is still in the concept stage and there has been no approval given yet, so we cannot move ahead until we get this," he said.

He said the two main priority areas of the SVC are the Bukit Jelutong City Centre and an environmentally-friendly township named Elmina East, which has an estimated GDV of RM6 billion.

By The EDGE Malaysia (by Melody Song & Max Koh)

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