The soon-to-be-developed Tun Razak Exchange (TRX) along the southern end of Jalan Tun Razak is expected to create a positive spillover impact to its surrounding areas of Bukit Bintang, Pudu and Kampung Pandan, say analysts familiar with the urban renewal project.
"Although more substantial appreciation will depend on the Mass Rapid Transit stations, but I believe the appreciation of value for property located in the surrounding areas," he said. He felt that Malaysia was "relatively comfortable" with the level of exposure that the real estate investment where many people would hope to have their offices or homes, within the proximity of TRX. "Real estate developers will take this opportunity to plan their projects in these areas were set to enjoy good sales as buyers are confident of future demand for their properties once the financial hub is completed," she said.
AMMB Holdings Bhd Group Managing Director Ashok Ramamurthy said the project would have a spillover effect on real estate investment where many people would hope to have their offices or homes, within the proximity of TRX. He said property development in areas near TRX would appreciate in a bigger way once people see the physical development of TRX. "Real estate developers will take this opportunity to plan their projects in these areas were set to enjoy good sales as buyers are confident of future demand for their properties once the financial hub is completed," she said.
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