Johor's fast transport system linked to Singapore is a key catalyst … [+]
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Sunway Group – controlled by Malaysian billionaires Jeffrey Cheah– Builds a mixed-use residential and commercial property in partnership with Malaysia's state-owned commuter railway operator MTR Corp.
Sunway said in regulatory filings that the property will be built next to Johor Bahru's Bukit Chagar Train Station, which will be contacted by Singapore's Woodland North Station via the Express Train System (RTS). stand up.
The project – which established a residential and commercial tower, retail shopping center, schools and a health center – seeks to take advantage of the Johor real estate boom, which has been designated as a special economic zone by Malaysia and Singapore. Construction will begin next month, with the first phase of the company offering multi-storey parking lots and integrated transport facilities, which are scheduled to open in November 2026.
“We believe the joint venture with MRT Corp will strengthen the presence of Johor,” wrote in a research note. Sunway shares a 1.7% closing price of 4.70 Ringgit .
LOW noted that the company has developed a 1,800-acre township (about 30 billion ringgit) in Johor, demand for the residential project is strong. She added that Sunway still has a considerable bank of land in the area of about 698 acres.
Currently, Cheah, chairman of Sunway Group, has a net worth of US$3.5 billion Forbes'Real-time data. Over the past fifty years, he has transformed a small tin mining company into a diverse empire that spans education, healthcare, hospitality and infrastructure. Sunway's health care unit is watching Malaysia's Bursa list, which has operated three hospitals and has planned seven hospitals.
