Stepped-up MRT services will spur values Stepped-up MRT services will spur values
Share this on WhatsAppBy Roznah Abdul jabbar Train stations are often touted as value-adding features to developments built near them. Taking this up a... Stepped-up MRT services will spur values

By Roznah Abdul jabbar

Train stations are often touted as value-adding features to developments built near them. Taking this up a notch, Mass Rapid Transit (MRT) Corp’s plans in the pipeline will guarantee the appreciation of properties along its trajectory and around its stations.

Generally, the provision of public transportation links in major cities around the world have resulted in a 10% to 20% hike in surrounding property values.

MRT Corp’s director of strategic communications and public relations Mahmood Abdul Razak said its plans will greatly ease commuter travelling in the not too distant future.

“Conveniences from MRT, which include the feeder buses that would operate at a frequency of between 10 and 20 minutes as well as park-and-ride facilities at 15 stations and 57 new routes identified along this line will add value to the properties around the stations and along the line,” he said during a talk on “The MRT Impact” at the D’Sara Sentral Show Gallery recently.

Mahmood said the park-and-ride stations will be equipped with multistorey car parks. The Sungai Buloh station, which will be connected by two MRT lines, will have 1,600 parking bays.

He said a feeder bus network will be an integral part of the MRT Line 2 project to provide convenience and ease of access for commuters.

“We have always done the transport building for developed areas, where it should be transportation first and then development,” he stressed.

“As we move our focus towards the system portion of construction, we will ensure that the good progress continues,” he added.

Mahmood said that MRT Corp is pleased with the progress achieved thus far. Phase one of the MRT Sungai Buloh-Kajang Line from Sungai Buloh to Semantan is targeted for operation by end of 2016, while phase two from Semantan to Kajang will become operational by 2017.

The 51km Sungai Buloh-Kajang Line is the first Klang Valley MRT line to be approved for implementation, starting from Sungai Buloh, running through the city centre of Kuala Lumpur, and ending in Kajang. There will be 31 stations, of which seven will be underground.

A detailed environment impact assessment of the project found key issues to be addressed and solutions have been provided for the construction and operation stage of Line 2.

Raja Nur Ashikin Raja Zainal, director of ERE Consulting Group Sdn Bhd, said the main impact will be that of traffic congestion, noise and vibrations.

She said that solutions such as proper traffic management plans specific to each site, temporary route diversions during peak hours and other solutions are being planned to address the anticipated traffic congestion.

To reduce noise and vibrations, Raja Nur Ashikin said solutions include setting up temporary noise barriers, employing equipment shielding, using low piling methods and restricting noisy activities to daytime only during the construction stage.

“When the operational stage kicks in, the stations will use continuous welded tracks, noise barriers and acoustic absorption to lessen noise pollution,” she said.

The talk, aimed at updating the public on the progress of the MRT Sungai Buloh-Kajang Line, also provided property investment tips, insights on investing in properties near MRT stations and the market outlook post-Goods and Services Tax (GST).

In his sharing, the President of Malaysian Institute of Estate Agents (MIEA), Siva Shanker, discussed techniques on property investment and reasons to invest in properties near urban public transportation systems.

“Better connectivity will definitely result in property appreciation of at least by 15% especially in the vicinity of MRT stations. This has been proven in countries like Singapore, Hong Kong and Taiwan,” he said.

The MRT project will cut through many up-and-coming development areas, which is good news for the new properties that are emerging there.

The MRT project will cut through many up-and-coming development areas, which is good news for the new properties that are emerging there.

He pointed out that the MRT Sungai Buloh-Kajang Line upon completion will allow trains to serve a corridor with an estimated population of 1.2 million people. Other new developments that will be spurred by MRT routes include D’sara Sentral, the Rubber Research Institute development as well as the KL International Financial District.

Siva, who also shared his insight on how GST will affect the property market, said that the impact of GST has not been seen yet.

“The impact is currently unforeseeable as property players and buyers have never experienced this kind of implementation before,” he said.

Explaining about the current property environment, Siva said the infamous bubble which was in question, burst two years ago inconspicuously.

Citing the figures from Valuation and Property Services Department (JPPH), he said the volume of transaction from 2011 to 2014 has been decreasing – 430,403 in 2011, 427,520 in 2012, 381,130 in 2013 and 386,810 in 2014, while the value of transaction increased – 137.83 billion in 2011, 142.8 billion in 2012, 152.37 billion in 2013 and 164.06 billion in 2014.

“This answers the question we have been asking for years, the bubble burst in 2012-2013 and we didn’t realise it,” he said.


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