MRT Corp, HK'S MTR CORP ink MoU on mixed property development

KUALA LUMPUR - Mass Rapid Transit Corporation Sdn Bhd (MRT Corp) and Hong Kong’s (HK) MTR Corporation Limited (MTR Corp) signed a memorandum of understanding (MoU) today to develop a mixed property venture that will rejuvenate Bukit Chagar in Johor Bahru, Johor, into a southern economic hub.

MRT Corp chief executive officer Datuk Mohd Zarif Hashim said this would be the first time that MRT is implementing a large-scale property rejuvenation.

He said the project would occur concurrently with the planned rapid transit system (RTS) link between Johor Bahru and Singapore.

"Today’s MoU is the culmination of a series of discussions over the past month. "This started where Transport Minister Anthony Loke led a delegation to Hong Kong (last month) in a new chapter of bilateral relation with a mission to attract foreign investment into the country,” he said at the MoU signing ceremony here today. - Bernama