KUALA LUMPUR: Fresh from announcing the resumption of the RM44bil East Coast Rail Link (ECRL) project, the government has announced that the stalled Bandar Malaysia project will be revived. The massive Bandar Malaysia project, which occupies the former airport in Sungai Besi, will now include 10,000 affordable housing units, a people’s park, bumiputra participation throughout the project and the priority for the use of local content and materials. “Because of that, we have changed our stance and will reinstate Bandar Malaysia to the company that won the bid,” he said, adding that the agreement of the developers were “unfairly terminated” previously. The Bandar Malaysia project was announced under the administration of former prime minister Datuk Seri Najib Razak in 2011 and had an estimated cumulative gross development value of RM200bil. In December 2015, the Finance Ministry sold off a 60% stake in Bandar Malaysia for RM7.4bil to a consortium consisting of IWH-CREC.

Source: The Star April 19, 2019 23:15 UTC