MRCB exports its transport-orientated development expertise to New Zealand

PETALING JAYA: Malaysian Resources Corp Bhd (MRCB) is partnering with Panuku Development Auckland in the Aotea Central Over Station Development (OSD), which has a gross development value of RM1.3 billion (NZ$452 million) in Auckland City Centre.

The urban regeneration development above City Rail Link’s Aotea Station spreads across 1.08 acres with a total gross floor area of 45,292 square metres (487,520 square feet). The site at the intersection of Mayoral Drive and Wellesley Street is formerly a car park used for Auckland Council fleet parking

The new development will be a 21-storey building with a mixture of retail and commercial space and 63 luxury apartments with integrated access to Aotea Station.

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 UN Sustainable Development Goals. The OSD will be a unique and transformational development for Auckland, and will begin after the construction of the City Rail Link’s Aotea Station, which is due to be completed in 2024.

In a statement, Auckland mayor Phil Goff said the development is set to have a positive impact on Auckland’s city centre, as the project will replace what was once a car park with modern, welldesigned, and high-density housing and shops as well as commercial spaces in the heart of the city.

“Ensuring the right type of development partner was key. On behalf of the Auckland Council, we sought a particular type of development partner who would understand the rare opportunity to contribute to the regeneration of this unique mid-town location.

“MRCB has a long history of quality transport-orientated developments (TOD) 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,” said Panuku chief executive David Rankin.

MRCB group managing director Imran Salim is pleased that Panuku has provided the opportunity for MRCB to contribute to Auckland’s development landscape.

“MRCB is thrilled to extend its TOD expertise to deliver an iconic landmark development in New Zealand. With our knowledge, skills, and experience in developing the award-winning Kuala Lumpur Sentral CBD, we envision that the OSD will be an exemplary mixed-use TOD that positively contributes to andvvenhances the city’s growth.”

Source: The Sun Daily