KUALA LUMPUR, March 9 — Malaysian Resources Corporation Bhd (MRCB), the pioneer of transport-orientated development (TOD) in Malaysia, is making its mark in New Zealand via a partnership with Panuku Development Auckland (Panuku).
Under the partnership, the two companies will jointly develop the Aotea Central Over Station Development (OSD) with a gross development value of RM1.3 billion in the Auckland City Centre.
In a statement, the urban property and construction company said the regeneration development above City Rail Link’s Aotea station spreads across 0.43 hectares with a total gross floor area of 45,292 square meters.
The new development comprises a 21-storey building, featuring a mixture of retail and commercial space and 63 luxury apartments, with integrated access to Aotea Station.
Auckland’s mayor Phil Goff said that the development is set to have a positive impact on Auckland’s city centre.
Meanwhile, Panuku chief executive David Rankin said getting the right type of development partner was the key to the project.
“On behalf of the Auckland Council, we sought a particular type of development partner who would understand the rare opportunity to contribute to the regeneration of this unique mid-town location.
“MRCB has a long history of quality TODs in Malaysia and is committed to transforming the Mayoral Drive site to appeal to those wanting vibrant inner-city living and a low carbon lifestyle right in the centre of Auckland,” he said.
MRCB group managing director Imran Salim said with its knowledge, skills, and experience in developing the award-winning Kuala Lumpur Sentral Central Business District, it envisioned that the OSD will be an exemplary mixed-use TOD that positively contributes to and enhances the city’s growth.
“The OSD will be an inclusive urban regeneration project that focuses on the capacity for participatory, integrated, and sustainable infrastructure, in line with the group’s commitment to the United Nation Sustainable Development Goals (UN SDGs),” he said.
The OSD will begin after the construction of the City Rail Link’s Aotea Station, which is due to be completed in 2024. — Bernama
