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JB RTS Station: RM2.6 Billion Transformation & Property Investment Opportunities

Calvin Leong

Calvin Leong

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Discover Johor Bahru's exciting future with the Bukit Chagar Integrated Mixed Use Development! This ambitious RM2.6 billion project promises to revolutionize the area surrounding the RTS station. Get the inside scoop on this game-changing development and what it means for Greater Johor Bahru.

Quick Takeaways:

  • A massive mixed-use development is planned for the Bukit Chagar RTS station area.
  • The project includes shopping malls, residential towers, offices, a hotel, and a park-and-ride facility.
  • The first phase, a multi-story carpark, begins construction soon, aiming for completion in late 2026.
  • The entire master plan is projected to be completed by 2036.
  • The development aims to integrate seamlessly with the RTS Link and existing transportation systems.
  • This TOD project is expected to boost Johor Bahru's economic growth, potentially targeting both mass and high-end markets.
  • Expect property prices in the area to reflect its highly desirable location.

Bukit Chaga Integrated Mixed Use Development: A Comprehensive Overview

This article provides a detailed overview of the upcoming RM2.6 billion Bukit Chaga Integrated Mixed Use Development project in Johor Bahru, Malaysia, based on information shared by Kelvin on his YouTube channel.

Introduction: Bukit Chaga's Transformation

The Bukit Chaga area is poised for significant transformation with the development of a large-scale integrated project. This project, located near the Bukit Chaga RTS (Rapid Transit System) station, is generating considerable excitement and anticipation. This article aims to provide a comprehensive summary of the project's details.

Project Details and Components

The Bukit Chaga Integrated Mixed Use Development, currently without an official name, is a RM2.6 billion project centered around the Bukit Chaga RTS station. The master plan includes:

  • A shopping mall.
  • Four residential towers.
  • Commercial office space.
  • A hotel.
  • A health and wellness hub.
  • An education facility.
  • A multi-story park and ride car park facility: This facility is projected to accommodate 1,550 cars and 1,015 motorcycles.

The development will be directly connected to the RTS Link station and the new ICQ (Immigration, Customs, and Quarantine) building. The exact nature of this connection is yet to be fully clarified, but it's expected to be easily accessible. This project also aims to integrate various public transportation systems, including the KTM ETS (Electric Train Service), JB city buses, and the ART (Autonomous Rail Transit).

Key Players Involved

The project involves three primary stakeholders:

  1. The Malaysian Government.
  2. MRT Corp (Mass Rapid Transit Corporation Sdn Bhd).
  3. Summit Group.

MRT Corp and Summit Group signed a master agreement on February 13th. MRT Corp will receive RM450 million as development rights value.

Timeline and Phased Development

The project is planned in phases.

  • Phase 1: Is scheduled to begin in March 2025 and is expected to be completed by November 30, 2026.
    • This initial phase focuses on constructing the multi-story park and ride car park facility, with space for 1,045 motorcycles and 850 cars.
    • This parking facility is prioritized to address the anticipated traffic demands after the RTS begins operating.
  • Overall Master Plan Completion: The entire master plan is currently projected to be completed by 2036.

Summit Group's founder, Mr. Jeffery Chia, believes the project has the potential to be a catalyst for economic growth in Greater Johor Bahru. MRT Corp's CEO, Mohammad Zarif Hashim, highlights the adoption of a real estate plus property model to optimize land use and integrate public transportation with commercial development.

Project Evolution and Previous Plans

Previously, in 2023, MRT Corp intended to collaborate with MTR Corp (Hong Kong's Mass Transit Railway Corporation). The reason this collaboration did not materialize remains unclear. The current partnership with Summit Group is viewed positively, with the government aiming to showcase the development capabilities of Malaysian developers.

Impact and Future Expectations

The government aims for the project to improve JB's transportation, economy, and overall business environment. This mixed-use development is a key project for the Johor state government and will be closely monitored by the public.

Potential Residential Pricing and Target Market

The pricing of the residential units is expected to depend on whether the developer targets a mass market or a high-end market. Current estimations place the land price at around RM1,800 to RM2,000 per square foot.

  • Mass Market Scenario: Smaller unit sizes (e.g., 300 sq ft or less) could be offered to keep the selling price affordable.
  • High-End Market Scenario: Larger units, in line with existing market standards, could be developed, targeting a more affluent demographic. Regardless of the target market, the project's location and integrated nature are expected to be major selling points, potentially attracting both local and foreign buyers. The project's timeline and phased approach are deemed necessary given the complexity of the development and potential business considerations. The gradual development allows for maximizing profits. The early commencement of the first phase of construction is a positive sign, indicating progress and commitment to the project's realization.

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