PETALING JAYA: The RM10 billion Cyberjaya City Centre (CCC), a joint development project between Malaysian Resources Corp Bhd (MRCB) and Cyberview Sdn Bhd, seems to be showing slow progress since the change of government.
It was observed that some piling works have been done, but the project has yet to see major progress..
What is MRCB’s plan for it after a slew of mega project postponements and reviews?
MRCB chief corporate officer Amarjit Chhina told SunBiz that the project could take a longer time to be completed.
“The time frame (for the first phase) may change and could be longer than what has been told earlier,” he said.
Recall that in October 2015, Cyberview and MRCB Land Sdn Bhd signed a 30:70 joint venture agreement to develop the first phase of the CCC project comprising a convention centre, hotel, offices and retail lots. It was kicked off in the first half of 2016 and is expected to take seven years to complete.
Phase 1 of CCC is built on 53.37 acres of land, with a gross development value of RM5.35 billion. The convention centre was previously targeted for completion by next year.
The three-phase CCC project, which would take 15 years to be completed, was officially launched by then prime minister Datuk Seri Najib Abdul Razak in 2017, who said that CCC was aimed to be a game changer and completely transform Cyberjaya into a global technology hub and smart city.
Despite the delays, Amarjit stressed that the CCC project is still ongoing, but MRCB’s focus now is more on its other core transit-oriented development (TOD) projects, namely Penang Sentral, Kwasa Sentral and KL Sports City. This is given that these locations (Penang Sentral in Penang, Kwasa Sentral in Sungai Buloh and KL Sports City in Bukit Jalil) have very strong rail transport and road connectivity compared with Cyberjaya.
“We have a very big pipeline of projects in a very strong locations underpinned by very strong transport connectivity. Our key strengths are TOD developments, which is similar to KL Sentral, but at the moment we’re putting our focus more on these locations,” he added.
The Mass Rapid Transit Line 2, slated for completion in 2022, will pass through Cyberjaya with two stations.
Cyberjaya was the brainchild of Prime Minister Tun Dr Mahathir Mohamad and it started to take shape back in 1997. It was supposed to be the Silicon Valley of Malaysia.
Mahathir had said that Cyberjaya should not be just another town with the usual housing development; instead it should focus on the high technology, electronic and information technology industries.