Malaysia Property News is a free resource website sharing Daily Property News & information about Property in Malaysia, which related to, Property Market, Property Investment, Commercial Property , Hot Properties Malaysia, Real Estate, Retail Shop, Business Park, Condominium Malaysia, Terraces & Apartment Malaysia, Houses, Residence, Resort and many more.

Wednesday, June 15, 2011

Agreements inked to develop Sungai Besi airport land into Bandar Malaysia

KUALA LUMPUR: Several agreements were inked Wednesday, paving the way for the old Sungai Besi airport land to be transformed into Bandar Malaysia a strategic development for long-term national growth.

Bandar Malaysia will have several attractive elements to further strengthen Kuala Lumpur's global competitiveness as cities compete to attract international investors and businesses, a statement on the 1Malaysia Development Berhad (1MDB) website said.

1MDB, the master developer for Bandar Malaysia, signed, among others:

* Sale and purchase agreements with Federal Land Commissioner for the transfer of 495 acres of Sungai Besi airport land to 1MDB;

* Sale and purchase agreement with the Mentri Besar Incorporated of Negri Sembilan for the purchase of 750 acres in Sendayan, which is the replacement site for the Royal Malaysian Air Force (RMAF);

* A master relocation agreement with the Defence Ministry and Home Ministry to develop eight replacement sites.

Minister in the Prime Minister's Department Tan Sri Nor Mohamed Yakcop witnessed the signing at the Economic Planning Unit of the Prime Minister's Department here.

Bandar Malaysia aims to promote livability as a distinctive character of Greater Kuala Lumpur. It will be a mixed development filled with livable space for work/life balance, such as open green space and people's avenue as well as higher learning institutions, the statement said.

This is the third game-changing use of the historical site. In 1956, it served as the first international airport, opening up the aviation, travel, tourism and hospitality industries.

It was also the birthplace of the RMAF from where it grew to become an ultra modern air force.

By The Star

No comments: