Cross-border RTS 2 to spur development in Iskandar Puteri: HLIB
Hong Leong Investment Bank Bhd (HLIB) said while still at an early discussion stage, the RTS 2 proposal was timely and strategically important.
HLIB said the JS-SEZ is expected to drive substantial cross-border economic activity and workforce mobility, and a second RTS link would play a key role in easing congestion, improving connectivity and supporting sustained growth in cross-border commuting.
However, no specific details on alignment, stop locations or implementation timelines have been disclosed at this juncture.
"If realised, RTS 2 could be a major catalyst for Iskandar Puteri, similar to the impact seen around the existing RTS link in JB.
"Residential property prices near the current RTS station surged significantly, doubling in just a few years prior to operations commencement, highlighting the powerful value uplift potential of cross-border transit infrastructure," it said.
HLIB believe RTS 2 could replicate this trend in Iskandar Puteri, benefitting developers with strategic landbank exposure in the area, notably Sunway Group and UEM Sunrise Bhd.
Meanwhile, the firm said for perspective, new high-rise launches near the existing RTS corridor are now commanding prices of RM1,000 to RM1,500 per square foot.
In contrast, there have been few recent high-rise launches in Iskandar Puteri.
For comparison, it said Sunway's Maple Residences, a landed project launched in late 2024, was priced at just RM550 per square foot.
HLIB added that the introduction of RTS 2 would not only uplift property prices in the region but also shift development dynamics.
It noted that improved accessibility would justify a move from low-density landed homes to higher-density high-rise developments, improving land efficiency and allowing developers to extract greater value from their landbank.
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