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This evening - Monday (May 28 2018) , Malaysia's Prime Minister Mahathir Mohamad confirmed in a press conference that Malaysia will drop the Kuala Lumpur-Singapore high-speed rail project (HSR), saying the project will not benefit his country.
"It is a final decision, but it will take time because we have an agreement with Singapore," Dr Mahathir said "It's not beneficial. It's going to cost us a huge sum of money. We'll make no money at all from this arrangement," he added. "(The HSR) is only a short track. It is only going to save people one hour by taking the HSR."
"It is a final decision, but it will take time because we have an agreement with Singapore," Dr Mahathir said "It's not beneficial. It's going to cost us a huge sum of money. We'll make no money at all from this arrangement," he added. "(The HSR) is only a short track. It is only going to save people one hour by taking the HSR."
The KL-S'pore high-speed rail was expected to improve business linkages between Singapore and Malaysia
The much-heralded KL-Singapore high-speed rail (HSR) project, which was expected to be operational in 2026, planned to include seven stations in Malaysia – Bandar Malaysia, Bangi-Putrajaya, Seremban, Melaka, Muar, Batu Pahat and Iskandar Puteri – with the last stop being in Jurong East, Singapore.
HSR Rail Route
Proposed HSR Station in Jurong
Some analysts believe the HSR Terminus would have been the Cherry on The Cake for Jurong District and that the loss of the terminus may cause the Jurong Lake District to lose its shine but some may also argue that Singapore and Malaysia are already well connected by land and air and is not reliant on the HSR rail to boost our nation's economy.
So the current question in everyone's mind now is: "will this decision of scrapping the high-speed rail adversely affect Jurong's condo property values?"
So the current question in everyone's mind now is: "will this decision of scrapping the high-speed rail adversely affect Jurong's condo property values?"
Analysts has always argued that the future of Jurong is not just about the High Spped Rail. There are many things going on for Jurong potential investors and home owners. Let's analyse some main developments in Jurong that strongly appeals to investors and buyers who are planning to embark on their Journey to the West:
Jurong Innovation District (JID)
A new Jurong Innovation District (JID), envisioned as the industrial park of the future, will be built as part of the Government's push to encourage more innovation.The first phase of the district, which will be in Jurong West, is expected to be completed by around 2022.
THE Jurong Innovation District is being developed to become Singapore's second central business district
Jurong Lake District (JLD)
The Jurong Lake District (JLD) will bring together researchers, students, innovators and businesses to develop products and services of the future. It will also create an environment to house different activities within a single next-generation industrial district - becoming the future of innovation for enterprise, learning and living. The government is determined to transform Jurong into the industrial park of the future redefining how we live, work, play, learn and create as a nation.
The Jurong Lake District project - set to be completed after 2040 is expected to create more than 100,000 new jobs in the 360-hectare Jurong Lake District - announced in 2008 as part of URA's efforts to provide more job and recreational options in the heartlands.
The district has been divided into two precincts - Jurong Gateway, the commercial hub where redevelopment has already begun, and Lakeside.
The district has been divided into two precincts - Jurong Gateway, the commercial hub where redevelopment has already begun, and Lakeside.
The 360-hectare Jurong Lake District - set to be completed after 2040 is expected to create new jobs
Future Tuas Mega Port
The new jobs will be created in sectors such as the maritime industry, with the future Tuas mega port; infrastructure development, due to the neighbouring Jurong Industrial Estate; and in the technology sector with the Nanyang Technological University and the planned Jurong Innovation District nearby.
The Tuas mega port, slated to open in phases from 2021, may be more than a hive of container traffic. Cafes, retail stores and even a jogging track overlooking the hustle and bustle of trade are being considered in a bid to optimise land use and add vibrancy.
The Tuas mega port, slated to open in phases from 2021, may be more than a hive of container traffic. Cafes, retail stores and even a jogging track overlooking the hustle and bustle of trade are being considered in a bid to optimise land use and add vibrancy.
The Tuas mega port, slated to open in phases from 2021, may be more than a hive of container traffic.
Jurong Regional Line
The 24-kilometre long Jurong Region Line (JRL) will add 24 stations to the existing rail network, including three interchange stations at Boon Lay, Choa Chu Kang and Jurong East MRT stations, which will link to the North-South Line and East-West Line. From 2026 onwards, commuters can start enjoying the JRL in three stages.
Jurong Region Line (JRL) will add 24 stations to the existing rail network
Jurong is close to many manufacturing industries and businesses and two of Singapore's main universities Nanyang Technological University and National University Singapore. The JRL will connect the Nanyang Technological University (NTU) and the gateway to Jurong Island to the existing Choa Chu Kang and Boon Lay stations in a Y-shape operating pattern. Separately, the line will serve the Pandan Reservoir and Tengah area, passing through Jurong East station.
With reference from Channel News Asia's 28 May 2018 online article: "Mahathir confirms Malaysia will scrap KL-Singapore HSR project"
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