In the next 10 years, Kuala Lumpur is set to become a major airport city
In the next 10 years, Kuala Lumpur is set to become a major airport city
Malaysia to build the ambitious KLIA Aeropolis
Malaysian federal officials recently announced plans to build a 100 sq km aviation hub, to be known as KLIA Aeropolis, on a large commercial real estate space surrounding the Kuala Lumpur International Airport (KLIA) in Sepang.
According to PropertyGuru.com.my, the massive development will feature three key clusters – Leisure, Air Cargo and Logistics – as well as Meetings, Incentives, Conferences and Events (MICE).
The project is being built in line with Malaysia’s goal of becoming a global leader in building airport cities. About 60 percent of the aviation hub will be intended for the airport and aeronautical use, with KLIA as the centrepiece.
A logistics park, a core commercial area, a business park, an aerospace park, an aeronautical support area, as well as zones for leisure and recreation, will cover the remaining 40 percent of space.
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“It will serve as the core of a Malaysia Airports’ air cargo and logistics ecosystem that extends to Penang, Sabah and Sarawak,” said Datuk Badlisham Ghazali, managing director of Malaysia Airports Holdings Bhd (MAHB).
Per PwC, the hub is expected to add an estimated MYR30 billion (USD7.36 billion) to Malaysia’s economy and generate about 56,000 jobs in a 15-year period.
In addition to increasing tourist arrivals and possibly the prices of residential projects in the area, KLIA Aeropolis is expected to boost KLIA’s cargo capacity from about 726,000 tonnes currently to between 2.5 million and three million tonnes in 2050.
Source: Property Report