Latest news with #RailwayAssetsCorporation
New Straits Times
14 hours ago
- Business
- New Straits Times
Anwar: Ipoh Sentral embodies long-term vision and progress
IPOH: The Ipoh Sentral development is poised to become a new iconic landmark in the heart of Ipoh, reflecting progress guided by a long-term vision, says Prime Minister Datuk Seri Anwar Ibrahim. He said that the large-scale project, entirely driven by the private sector through a strategic partnership between Malaysian Resources Corporation Berhad (MRCB) and Railway Assets Corporation (RAC), carried a total Gross Development Value (GDV) of RM6.25 billion. Speaking at the groundbreaking ceremony for Ipoh Sentral today, the prime minister expressed hope that the project would exemplify development grounded in Madani values. "We no longer seek grand physical developments that lack cultural soul. Every development must embody humanity, upholding compassion, respect, sustainability, and national dignity. "To achieve this, it requires synergy and close cooperation between developers, the city council, and relevant ministries, including Housing and Local Government, Education, Transport, and other agencies," he said on his Facebook page today. He added that the project was expected to create new opportunities, inspire public confidence, and reinforce Ipoh's identity as a vibrant, inclusive, and competitive city. The Ipoh Sentral development, aligned with the Perak Smart City Green Transport Agenda 2030, aims to transform Ipoh into a modern, sustainable transport hub with strong connectivity, while preserving the city's cultural heritage and fostering community cohesion.
The Sun
27-05-2025
- Business
- The Sun
RAC, Sunway team up to develop RM2b mixed-use Seremban Sentral
SEREMBAN: Negeri Sembilan's capital is set to undergo a comprehensive transformation following the signing of agreement between Sunway Group and the Railway Assets Corporation (RAC) to develop 20.8 acres of land into a new integrated, mixed-use development known as Seremban Sentral. The signing ceremony held recently was witnessed by Transport Minister Loke Siew Fook, who also announced that Sunway had been selected as the lead developer for the project following a competitive Request for Proposal process. 'As a rapidly developing state capital, Seremban needs a modern, sustainable, and well planned urban centre. Seremban Sentral will serve as a catalyst for this development by integrating residential, commercial, public, social and transport elements into one ecosystem,' said Loke. Seremban Sentral will be developed next to the existing Seremban Railway Station and will be integrated with the new Seremban Railway Station, which is being built under the Klang Valley Double Track 2 (KVDT2) project and is expected to be completed by December 2028. With an estimated GDV of RM2 billion, the development project will feature residential components; medical, retail and commercial centres; educational facilities; public and community spaces; green and recreational spaces; and pedestrian-friendly walkways connecting directly to the new Seremban Railway Station. Beyond modern infrastructure, the project embraces a heritage-sensitive approach through the Seremban Yard initiative, which focuses on preserving and repurposing the site's historic railway warehouses. These heritage structures will be thoughtfully transformed into a dynamic public space that supports emerging local businesses, food artisans, creative industries, and cultural activities – all while celebrating Seremban's unique and rich cultural identity. 'This effort not only preserves historical value but also breathes new life into a heritage site as a tourism attraction and creative economy hub,' Loke who is also Member of Parliament for Seremban said. The first phase of this development will be launched within six months upon the signing of this agreement, where the development of a medical centre and the proposed Seremban Yard will commence. This development will be completed in full within 14 years. The development of Seremban Sentral is expected to generate a positive impact on the local economy and community. In addition to a potential increase in property value, this TOD project will spur economic activity and attract new investments and businesses to the surrounding communities. This project will create up to 1,500 new jobs in the retail, construction, property, healthcare, education and tourism sectors. Additionally, the Seremban Yard initiative will support the growth of small and medium enterprises by providing inclusive and dynamic community entrepreneurship spaces. With its pedestrian-friendly design and rail integration, the project is expected to increase public transport usage by 30% by 2030, in line with sustainability goals and efforts to reduce dependency on private vehicles. Loke said that this development exemplifies strategic public-private partnership in driving sustainable, modern and inclusive growth – in line with the principles of Malaysia Madani.
The Sun
08-05-2025
- Business
- The Sun
RM2 billion Seremban Sentral transit project to begin this year
SEREMBAN: A major transit-oriented development (TOD) project, known as Seremban Sentral, will be developed near the Seremban Railway Station with an estimated gross development value (GDV) of RM2 billion. Construction is expected to begin this year. Transport Minister Anthony Loke said the project, located on 8.4 hectares of land owned by the Railway Assets Corporation (RAC), will feature residential units, business centres, healthcare facilities, commercial areas, and educational institutions, acting as a catalyst for the city's growth. He said the development, led by Sunway Group, will be integrated with the ongoing upgrade of the Seremban Railway Station under the Klang Valley Double Track Phase 2 (KVDT2) project, which is scheduled for completion by Dec 2028. 'Seremban lacks a 'wow factor'. We are an old city with a rich history, but we need something to revitalise it. We are pleased that Sunway Group has won the tender, offering the highest return to RAC for this land development. 'I am excited to see this project materialise. In the coming months, the developer will submit planning approvals to the local authority, and I hope full cooperation will be extended to realise this project swiftly,' he said. Loke was speaking to reporters after witnessing the agreement signing between RAC and Sunway Group. Also present was Transport Ministry secretary-general and RAC board chairman Datuk Jana Santhiran Muniayan. Loke, who is also the Member of Parliament for Seremban, said the first phase, covering the development of a medical centre and the Seremban Yard, will begin within six months of the agreement signing. The entire development is expected to span 14 years. 'The healthcare sector has high demand, not just locally but also from foreign patients. This supports medical tourism, where patients from neighbouring countries seek treatment here, stay in hotels and utilise local services. 'This will boost the local economy. I hope Seremban Sentral will become a key driver of the city's development, and that RAC will fully optimise the land next to the station,' he said. He added that the project would fully leverage the existing rail system, transforming Seremban into a more efficient and inclusive transport hub. Loke also noted that the project will preserve and integrate the historic Seremban Railway Station, with the Seremban Yard set to include the old train depot as a creative space for small businesses and community interaction. I am confident this development will increase property values, stimulate the local economy, create new jobs as commercial components come into operation, and improve the quality of life and mobility for the people,' he said.
