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LRT3 worth every penny?

LRT3 worth every penny?
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[vc_row][vc_column][vc_column_text]Malaysians celebrate National Day every year on August 31.

But what will make August 31, 2020 even more auspicious is the rolling out of the country’s third LRT.

The “final leap” for Malaysia, as a country, to achieve a developed nation status.

And it doesn’t come cheap.

It costs the government RM9 billion to build the 37km line connecting Bandar Utama in Petaling Jaya to Johan Setia in Klang.

14051728_1380260101987384_3487851688460613087_nIn that entire stretch, there will be 26 stations, one of which is underground including five integrated ones and 10 with park and ride facilities.

Sounds like it’s worth every penny?

Besides serving some 74,000 commuters daily (36,720 passengers per direction per hour capacity) and over 2 million people by year 2025, the government is looking to raise the utilization of public transport by 40% from the current 17.1% by year 2020.

So it’s all about infrastructures which gives Malaysia its much needed catalyst of a developed country: Connectivity.

If Tun Abdul Razak is the Father of Development or Bapa Pembangunan then his son, Datuk Seri Najib is the Father of Further Development or Bapa Pembangunan Lanjut.

Politics aside

The Prime Minister launched the Light Rail Transit 3 (LRT 3) on August 24, alongside Selangor Menteri Besar Mohamed Azmin Ali.

“We may differ in many other things but in matters of public’s interest, we must deliver,” said Najib during the launch held at the Melawati indoor stadium in Shah Alam.

Najib during the launch held at the Melawati indoor stadium in Shah Alam - Picture credit : SPAD Facebook
Najib during the launch held at the Melawati indoor stadium in Shah Alam – Picture credit : SPAD Facebook

Especially since the project is welcomed with open arms by a majority of people residing at Bandar Utama.

It’s about time the horrendous traffic at the One Utama and IKEA areas are eased up.

Issues of double parking in illegal parking zones, a common sight on weekends, can also be resolved.

Another good news is LRT 3 will provide a total of 5,000 parking lots at 10 selected stations by year 2020.

Those staying in the Greater Kuala Lumpur and complain about the long journey they have to take to reach Klang will now be able to travel with ease and comfort.

The end-to-end journey time is 51 minutes.

Klang at your feet, property powering up

Those who still think that Klang is just a small under-developed town may have to think again.

This is not true at all as Klang is not just developing. There are many other developments coming up such as the completed AEON shopping malls in Bukit Tinggi.

It is also a town famous for serving authentic ‘Bak Ku Teh’, and recently, the halal version of ‘Che Ku Teh’, consisting of halal chicken meat.

So by the time the LRT 3 powers up, it will definitely bring Klang to greater heights.

Spiraling ahead is also the prices of residential property in the areas nearby the LRT 3.

More than 16% in 2014 for single and double-storey terraced units at Bandar Utama, where the One Utama station will be located.

Near the Temasya LRT 3 station: double-storey terraced houses, in Temasya Glenmarie, Shah Alam, transacted the highest property price in the state, at between RM1.2 million and RM2.31 million.

There were also increments in property prices transacted for Section 13, Shah Alam where the proposed stadium station is located nearby.

In the leisure sub-sector, Selangor witnesses the sole transaction of Prescott Hotel in Klang. There are at least three proposed stations in the Klang region. They are Bukit Tinggi station, Bandar Botanik station and Johan Setia station.

Should you buy?

According to S.K. Brothers Realty general manager Chan Ai Cheng, “Locations close to the LRT 3 station stand to benefit the most from the LRT3 facilities and conveniences, and thus, enhancing the value of the property.”

She advised investors to note that when one invests in property near to LRT amenities, they should not purchase it too near the stations, as the noise produced by the LRT movement could be a disturbance to some.

She advised investors to invest in properties with sufficient distance away from the LRT stations and to consider other factors, such as the surrounding amenities and target market before investing.

Construction of the LRT3 will be undertaken by Prasarana and is scheduled to begin early next year.

Prasarana appointed Malaysian Resources Corporation Berhad (MRCB) and George Kent Sdn Bhd as the Project Delivery Partner (PDP) in September last year.

Picture credit : SPAD Facebook [/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_video link=”https://www.youtube.com/watch?v=Ie8iMZYSL7k” title=”LRT 3 : Extending the frontiers of connectivity to Western Klang Valley”][/vc_column][/vc_row]

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