The Southern Klang Valley Corridor has undergone significant development, transforming from its origins as an area of rubber plantations and abandoned mines. The region now boasts key landmarks such as Putrajaya, Cyberjaya, and the Sepang international airport town, contributing to the economic growth of Selangor.
The Selangor state government has introduced the Idriss programme to further stimulate development in South Selangor, covering 40,000 acres in the Sepang and Kuala Langat districts with an estimated gross development value of RM1 trillion. These districts were chosen for their strategic location within South Selangor, ideal for fostering economic growth.
With incentives such as special premium schemes, tax exemptions, and business license fee waivers, the Selangor government aims to drive investment in the region. The launch of Idriss in March 2023 has already seen approval for 13 projects covering 17,398.56 acres of development area.
Additionally, Selangor Menteri Besar Datuk Seri Amirudin Shari announced incentives for the Managed Industrial Park (MIP) to facilitate investments in Selangor further. These initiatives aim to boost economic growth in South Selangor by attracting developers and landowners.
Factors such as enhanced accessibility, upgraded infrastructure, rising demand for talent, and a youthful population have contributed to the region’s appeal, driving property prices higher. Township developments in the region have seen steady growth, with well-planned new townships attracting better market response and prices.
One example of a successful township development is Gamuda Cove in Kuala Langat, Malaysia’s first private township with a low-carbon city framework and smart city master plan. The township has delivered over 1,450 homes, with future developments such as Townsquare and Bay Street set to enhance the vibrancy of the area.
Gamuda Cove also boasts a 15-acre education hub, attracting residents and visitors and impacting real estate demand and prices positively. Overall, the Southern Klang Valley Corridor continues to thrive with ongoing development and investment opportunities. High-rise developments with lifestyle facilities are becoming more popular among young families, individuals, and investors due to their affordability and appeal. One such development, North Woods Residences, located within a self-sustainable master plan next to Gamuda Cove’s education hub, is expected to see a capital appreciation potential of 3% to 5% and a promising rental yield when it is completed in 2027. The township is projected to become more mature and vibrant by then, with various planned projects contributing to its overall development. These projects, such as the 2,000-acre Sepang International Aero Park and the 400-acre New Era University College campus, are expected to boost economic growth and enhance the well-being of residents in the region. This growth is likely to lead to a flourishing property market with steady growth in the future.