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You probably have friends or relatives living in Seremban who spend the majority of their time travelling to work in Kuala Lumpur and getting caught in early morning rush hour traffic on the way from Seremban.

As the nearest capital town to Kuala Lumpur and Putrajaya, Seremban has been experiencing rapid development and seen an increase in population as more people move southward to acquire cheaper landed properties.

Seremban, formerly known as Sungai Ujong is located 69km or about an hour’s drive from Kuala Lumpur, connected via major highways such as the North-South Expressway, Expressway Lingkaran Tengah (Elite) and Kajang-Seremban Highway (Lekas). Paroi–Senawang–KLIA Expressway is a proposed expressway to link up Paroi, Senawang and Kuala Lumpur International Airport (KLIA).

World-Class Metropolis

Seremban would be turned into a central business district as part of the Malaysia Vision Valley mega project.

Seremban was previously presumed to be a distant location to buy a house for owner occupancy or as part of a long term investment option. However, in light of IJM Land’s 3,800-acre freehold Seremban 2 township development in 1995, many buyers from the Klang Valley were attracted to invest in the newly completed projects there, which in turn compensated for the lack of demand from locals.

Today with a population of more than 500,000 people, the rapidly growing town is set to become the next metropolis following its positioning as part of the Malaysia Vision Valley (MVV 2.0) under the Greater Kuala-Lumpur Development.

MVV 2.0 is a state-led private sector-driven development envisioned to become a world-class metropolis that is competitive, inclusive and clean, and aims to attract international and local investors, creating job and business opportunities.

MVV 2.0 is a 30-year mega project, headed by Sime Darby Property Bhd (SD Prop) spanning across 379,087 acres (153,411 hectares) of land covering Districts of Seremban and Port Dickson. SD Prop currently owns 2,838 acres of land within MVV 2.0 and may opt to acquire another 8,796 acres from Sime Darby Bhd and Sime Darby Plantation Bhd within five years.

Sime Darby Property Bhd is planning for the development of a high-tech and industrial park, which will be the initial project among others within the first phase of development.

MVV 2.0 is touted to become the country’s sixth economic corridor. Malaysia Economic Corridors encompasses Iskandar Malaysia in Southern Johor (IRDA), Northern Corridor Economic Region (NCER), East Coast Economic Region (ECER), Sabah Development Corridor (SDC) and Sarawak Corridor of Renewable Energy (SCORE).

Attractive For Investment

Khalil Adis has written two bestselling books - Get It Right Iskandar and Property Buying for Gen Y

According to Khalil Adis, Founder of Khalil Adis Consultancy Pte Ltd, the key industries in Malaysia Vision Valley are high-tech manufacturing, tourism, skill-based education and specialised services. This will in-turn create around 1.35 million jobs by 2035. Therefore, the key target demographics for Malaysia Vision Valley are professionals working in these sectors who are either looking for their first or second homes.

The challenges of developing MVV 2.0 is in the change of government which has brought about the delay of the High Speed Rail project. This may result in opportunity costs as developers who had acquired the land, will then lease it out to consumers. This would lead to new launches in the Labu/Kirby estates to be priced higher due to higher development costs. Without the HSR project, MVV 2.0 may take a longer gestation period to realise its full potential.

MVV 2.0 will transform the property sector by creating more high value jobs away from Kuala Lumpur to Negeri Sembilan where the cost of buying a property is significantly cheaper. This is ideal for first time home buyers who may not be able to afford higher property prices in Kuala Lumpur. In addition to the infrastructure project being planned in MVV 2.0., key industries and job creation will help to boost property values and make it attractive among home buyers.

(By Felicia Soon, 19 March 2019)

What are your thoughts on Malaysia Vision Valley? Do you think the project will benefit first time home buyers? Share with us.

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Thanks for the highlight of this 3800 acres of freehold land...