Sunway, MRT Corp sign RM2.6 billion development deal in Johor

Sunway Group has entered into a master agreement with Mass Rapid Transit Corporation (MRT Corp) for a RM2.6 billion mixed-use development adjacent to the Bukit Chagar Rapid Transit System (RTS) station in Johor Bahru. The 4.23-acre project will feature four residential and commercial towers, a shopping mall, and various supporting infrastructures, including a multi-storey car park with 1,550 car spaces and 1,015 motorcycle bays. Construction is set to begin in March 2025, with the first phase of the car park expected to open by November 30, 2026. This development aims to enhance urban vibrancy, improve connectivity, and reduce congestion as a key component of Malaysia's broader transport strategy. The Rail Plus Property model employed in this project is anticipated to generate sustainable economic benefits while minimizing reliance on government funding. Sunway's shares increased following the announcement, reflecting investor confidence in the project's potential impact on the region.