Property market specialist never considers HSR or Kuala Lumpur -Singapore High-Speed Rail to have a big impact in terms of property prices around Jurong district, told the credible New Paper.
This happens while the HSR is just one of the program for Jurong’s recovery, reiterated by Ismail Gafoor, CEO and chairman of PropNex.
It was in 2008 when Jurong Lake District master plan initial released in collaboration of Urban Redevelopment Authority to build new job centre outside Singapore central region took place.
Meantime, the government confessed plans to create HSR terminus around Jurong East, way back 2015.
In fact, even the giant shopping centres such as Jem and Westgate flourished within the site long before the HSD construction, told Ismail.
“Prices in the district of Jurong begun to rise in last previous years due to the developments such as Ng Teng Fong General Hospital and the countless malls, he added.
Nicholas Mark, the executive director of ZACD group said. “Various offices are visible due to the attraction added by business park or sometimes for the simple reason that they prefer to be close to manufacturing areas there. The malls cater also to the resident population.”
Looking forward to he succeeding Five years, Ismail foresees development prices of Jurong to be stable while the west continues to recover, proven in the construction of mega-port.”
And because the HSR program is extended for 2 more years, he won’t expect it to yield a “big impact” on property developments.
“In case the delay reaches to 10 years, perhaps a problem is not a surprise!
With all the discussion and argument on such a topic, Dr Mahathir Mohamad, the Prime Minister of Malaysia divulged last July that Kuala Lumpur-Singapore High-Speed Rail (HSR) innovative project might be postponed but never be terminated. For the moment, running out of funds thus paused the project.” he shared with the media. He further added, that his government will sit down with Mohamed Azmin Ali to renegotiate with Singapore.
