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MRT3 aka Circle Line: Latest Update on the tenders

MRT3 aka Circle Line: Latest Update on the tenders

What’s the latest update on MRT3 aka Circle Line?

Article in nst.com.my MRT Corp has sought another three-month extension (until March 2024) to finalise tenders for the multi-billion-ringgit rail development. This marks the fourth extension requested by MRT Corp since middle of this year, adding an air of suspense to the much-anticipated project.

When contacted for updates on the circle line project and its tender process, an MRT Corp spokesperson said the project’s status is as per Transport Minister Anthony Loke’s announcement on Dec 21 that MRT Corp will start securing the MRT3 land corridor as early as the second quarter of 2024.

Loke said that the government had approved the allocation for the land acquisition process, without specifying the exact amount.  The acquisition process is expected to involve 1,012 lots of land, covering 842 private lots, 133 government lots, and 37 lots of unknown ownership.

The total MRT3 cost is likely to approach RM40 billion, with an anticipated construction expenditure of around RM31 billion. Article in nst.com.my

My thoughts?

I certainly think this MRT3 aka Circle Line is necessary because otherwise, a quick journey of 10 minutes via the MRT stations may need a lot more time. Circle Line is to close the loop. Else, it becomes an excuse not to take the MRT and later on becomes a reason for everyone to say, think and tell that Malaysia does not have a good public transport. Truth is, it’s both a pull and push combination yeah.

When the parking rates becomes super exorbitant (think those advanced countries or some small ones) and make the car prices super high together with amazing petrol prices then more people will be willing to take the public transport yeah. When more are public transport, of course more money earned from ticket sales could be invested back into the service too.

In case everyone did not know, there are no countries in the world where there are MRT stations right at the door step of all property developments yeah. How to have so many stations or stops? Usually, it is a walk to the station (easily a few hundred meters away) or a walk to the connecting buses so that one could take them to the train station.

So, it’s always a chicken and eff situation. Which one first? Build MRT3 first I think.

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Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of kopiandproperty.com He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. kopiandproperty.com is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.

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