KUALA LUMPUR – Malaysian Resources Corporation Bhd (MRCB), the pioneer of transport-oriented development (TOD) in Malaysia, is making its mark in New Zealand via a partnership with Panuku Development Auckland.
Under the partnership, the companies will jointly develop the Aotea Central over station development (OSD), with a gross development value of RM1.3 billion, in the Auckland city centre.
In a statement, the urban property and construction firm said the regeneration development above City Rail Link’s Aotea station spreads across 0.43ha, with a total gross floor area of 45,292 sq m.
The development comprises a 21-storey building, featuring a mix of retail and commercial space and 63 luxury apartments, with integrated access to the Aotea station.
Auckland Mayor Phil Goff said the project is set to have a positive impact on the city centre.
Panuku chief executive David Rankin said getting the right type of development partner is key.
“On behalf of the Auckland Council, we sought a particular type of development partner that would understand the rare opportunity to contribute to the regeneration of this unique midtown location.
“MRCB has a long history of quality TODs in Malaysia, and is committed to transforming the Mayoral Drive site to appeal to those wanting vibrant inner-city living and a low-carbon lifestyle right in the centre of Auckland.”
MRCB group managing director Imran Salim said with its knowledge, skills and experience in developing the award-winning Kuala Lumpur Sentral central business district, the company envisions that the OSD will be an exemplary mixed-use TOD that positively contributes to and enhances Auckland’s growth.
“The OSD will be an inclusive urban regeneration project that focuses on the capacity for participatory, integrated and sustainable infrastructure, in line with the group’s commitment to the United Nations Sustainable Development Goals.”
The OSD will begin after the construction of the Aotea station, which is due for completion in 2024. – Bernama, March 9, 2021
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