Frasers Property and Tan & Tan to jointly develop 5.15ha mixed-use site in Petaling Jaya, Malaysia
The partnership signals developer confidence in Section 13’s rejuvenation, while integrated homes, retail and public spaces could broaden buyer demand and support the area’s residential market.
Frasers Property and Tan & Tan will jointly develop the 5.15ha PJ Quarter mixed-use site in Petaling Jaya, with equal stakes and two phases.
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Frasers Property will be jointly developing a 5.15ha mixed-use site in Petaling Jaya, Malaysia, with Malaysian developer Tan & Tan Developments Berhad.
The joint venture partners will each hold an equal stake in the project, known as PJ Quarter.
Located in Section 13 of Petaling Jaya, the master-planned precinct is envisioned as a lifestyle destination that will anchor the ongoing rejuvenation of the area, according to a joint press release issued on Aug 21.
The site will be developed in two phases, with the first phase featuring residential developments alongside retail space and a park. Designed for families and working professionals, the homes are expected to be launched for sale next year.
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Meanwhile, the retail component will take the form of a low-rise, open-air lifestyle destination with integrated community and public spaces.
Boasting a triple-frontage at a key intersection of Jalan Kemajuan and Jalan Profesor Diraja Ungku Aziz, the mixed-use project is a short drive from several retail and recreational amenities, including 3 Damansara, Jaya Shopping Centre, Retail @ Pacific, Mid Valley Megamall and The Gardens Mall.
Two established universities — Universiti Malaya and International Islamic University Malaysia — are also within a 1km radius of the site. The mixed-use development will also enjoy connectivity to the Greater Klang Valley via major highways such as the Federal Highway and Sprint Expressway.
“Drawing on our combined experiences in large-scale, mixed-use developments, we aim to set a new benchmark for vibrant urban living in the area,” said Soon Su Lin, CEO of Frasers Property Singapore.
“It represents a meaningful step in growing our development portfolio, through a disciplined, partnership-led strategy, focused on creating value for the long term.”
Tan Yee Seng, CEO of Tan & Tan, said, “The site will benefit from the government’s efforts to rejuvenate Section 13 into an even more liveable and vibrant hub with green connectors and pedestrian-friendly infrastructure. We look forward to introducing novel retail experiences to the community, complemented by an upscale residential development designed to appeal to a broad spectrum of homebuyers."
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