Based on EdgeProp EPIQ analysis, there are a total of about 84 upcoming projects along the MRT3 Line. Comprising mainly residential properties, they offer a variety of housing options.
KUALA LUMPUR (Sep 14): The Mass Rapid Transit (MRT) Circle Line, also known as MRT3, is a major addition to the Klang Valley’s transportation network. Highly anticipated, this 51km route will connect to the existing MRT, LRT (light rail transit), KTM and Monorail lines, providing shorter travel times and better accessibility to areas previously underserved by public transportation.
According to MRT Corp’s website, MRT3 is slated for completion in 2032, subject to land acquisition. The proposed route will begin at Bukit Kiara South and end at the University of Malaya. Besides these two stops, it passes through several densely populated neighbourhoods, including Mont’Kiara, Segambut, Setapak, Pandan Indah and Cheras.
To ensure the MRT3 Line aligns with community needs, MRT Corp has initiated a public inspection period from Sept 2 to Dec 2. The revised public display has provided greater certainty on the MRT3 project, fuelling renewed interest in potential property developments surrounding the proposed stations.
So, what are the options for future residential or commercial projects near the MRT3 stops? Which stations have more new developments to choose from?
To determine which MRT3 stations have more new property developments, we have conducted a research using the EdgeProp EPIQ platform. For the purpose of this study, only projects that have started construction and are located within 1km radius of the MRT3 stations are included.
Our analysis has shown approximately a total of 84 ongoing projects around the MRT3 transit points. There is an abundant supply of residential properties, supported by the presence of commercial and educational developments.
We list here the top three stations with the highest number of emerging projects surrounding each of them.
New developments flourish near Sri Hartamas station
Sri Hartamas, a bustling neighbourhood with a high population density, has emerged as a focal point for new development activities. This surge can be attributed to its proximity to Mont’Kiara, a well-established upscale area that has spurred growth in the surrounding region.
Reflecting this trend, the area around the proposed Sri Hartama station is currently a hub of construction projects. There is even an upcoming affordable Rumawip housing project near this station priced between RM300,000 and RM318,000 per unit.
Other emerging high-rise projects in this area are priced from RM977,888 to RM1,623,000 per unit. Notable developers involved in these projects include UEM Sunrise Bhd, Kiaramas Development Sdn Bhd and TEG Asset Sdn Bhd.
Setapak station also boasts nine upcoming projects nearby
Setapak, sharing the top spot with Sri Hartamas, also has nine emerging developments surrounding the proposed station. The well-established neighbourhood offers a myriad of amenities.
The starting unit price of the upcoming projects in this area ranges between RM284,830 and RM699,000.
Some notable developers involved in these projects include Platinum Victory Sdn Bhd, Skyworld Development Sdn Bhd and its subsidiary Sky Sanctuary Development Sdn Bhd.Expansive mixed development to front Dutamas station
Dutamas station ranks second with under-construction projects spanning a wide price range from RM487,160 up to RM1,025,760 per unit.
The popular upscale neighbourhood in KL has benefited from its proximity to Mont’Kiara. A notable development in the area is KL Midtown, a large-scale mixed-use project located directly in front of the station. This 9-acre site features a 1km-long diaphragm wall and houses seven towers, including a hotel, offices, residences and a retail mall.
Unexpected lack of new developments near Pandan Indah station
Surprisingly, despite the high population density around the areas surrounding the MRT3 stops, not all of them have experienced significant new property development.
For example, the Pandan Indah station, located in Ampang Jaya, is a desirable residential area with easy access to the MRT3 station. This prime location, just 10 minutes from KL city centre, combined with the convenience of public transportation, makes it a popular choice for homebuyers.
However, despite the station’s strategic location, our research shows that there are only three projects under construction in the area.
Taman Midah station has only one new housing project nearby
Cheras, a large suburban area spanning both KL and Selangor, is a desirable location because of its proximity to established townships like Ampang and Kajang.
Despite being located in a popular area, Taman Midah station in Cheras has not seen the level of new property development expected. There is only one serviced apartment currently under construction.
Factors limiting new developments
While the MRT3 Line offers significant potential for the property market, why are there fewer construction projects near the stations located in the Ampang and Cheras areas?
According to EdgeProp EPIQ data, areas like Sri Hartamas have a much higher availability of vacant land suitable for building projects, allowing the diverse range of developments that are underway.
On the other hand, matured areas like Pandan Indah and Cheras have already been developed to a significant extent, leaving little room for new developments because of land constraints.
(Read also: Does proximity to MRT train stations boost property values and demand?)
Other new property projects may be unveiled
Nevertheless, as the market awaits the final confirmation of the MRT3 plan, the property landscape may continue to evolve in the areas along the route, and other new developments may emerge.
Meanwhile, residents will be notified if the MRT3 Line project will affect their properties. Following this, land surveys and soil investigations will be carried out. After reviewing public feedback, the government will finalise the land lots to be acquired in the first quarter of 2025.
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Source: EdgeProp.my
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