PETALING JAYA: Frasers Property Ltd and Tan & Tan Developments Bhd recently signed an agreement to jointly develop a prime 5.15ha site in Section 13 of Petaling Jaya.
Known as PJ Quarter, the large-scale, mixed-use master-planned precinct is envisioned to be a vibrant, pedestrian-friendly lifestyle destination that will anchor and accelerate the ongoing rejuvenation of Section 13.
Located in a well-established and highly sought-after residential enclave, the site benefits from a strong catchment of nearby offices, amenities and lifestyle offerings.
With equal stakes in the joint venture 1, Frasers Property and Tan & Tan will develop the site, about the size of seven football fields, in two phases.
The first phase will offer residential developments alongside retail space and a park, designed to foster community interaction and lifestyle convenience. The residential develop-ments, designed to cater to families and working professionals, are ex-pected to be launched for sale next year.
The retail component will be planned as a low-rise, open-air lifestyle destination, anchored by the park and integrated with community and public spaces.
Designed to support walkability and everyday social interaction, it will be set within landscaped surr-oundings and planned green links, contributing to a vibrant, community-oriented environment within the neighbourhood.
Frasers Property Singapore CEO Soon Su Lin said: “We are pleased to embark on our first collaboration with Tan & Tan, a well-established Malaysian developer, through PJ Quarter. As an iconic master-planned precinct, the development is set to play a pivotal role in the ongoing rejuvenation of Section 13, Petaling Jaya. Drawing on our combined experiences in large-scale, mixed-use developments, we aim to set a new benchmark for vibrant urban living in the area. It represents a meaningful step in growing our development portfolio, through a disciplined, partnership-led strategy, focused on creating value for the long term.”
Tan & Tan CEO Tan Yee Seng said: “We are pleased to work with Frasers Property, a well-established inter-national real estate leader, to deliver a landmark development in Petaling Jaya. The site will benefit from the government’s efforts to rejuvenate Section 13 into an even more liveable and vibrant hub with green connectors and pedestrian-friendly infrastructure.
“We look forward to introducing novel retail experiences to the community, complemented by an upscale residential development designed to appeal to a broad spectrum of homebuyers.”
Fraser & Neave Holdings Bhd is divesting its 50% equity interest in the joint venture company which owns the 5.15ha site in Petaling Jaya to Tan & Tan, while Frasers Property will continue to retain its existing 50% interest stake in it.
