Menteri Besar Datuk Seri Ahmad Faizal Azumu described the agreement as a win-win solution as it would boost the revenues of both RAC and Perak MBinc.
Faizal said TOD would provide housing, jobs, shopping malls and other amenities.
“Apart from commercial projects, we are also working together to develop affordable housing in transit hubs, with a focus on areas surrounding Ipoh Railway Station,” Faizal told a press conference, here, today.
Earlier, a memorandum of understanding (MoU) was inked between RAC and MBinc at the Transport Ministry. Perak MBinc was represented by chief executive officer Anuar Zainal Abidin while RAC was represented by its general manager, Azhar Ahmad.
The signing was witnessed by Faizal and Transport Minister Anthony Loke Siew Fook.
Faizal said the project would help the Perak government to achieve its aim of providing affordable housing under the Rumah Perakku programme.
“The state government is setting its sights on constructing 50,000 units under the Rumah Perakku programme within the next four years.
“The project with RAC will undoubtedly help in achieving the target.”
Loke, meanwhile, said the government was working towards facilitating TOD-linked projects which could optimise the use of public transport.
“The federal and Perak governments have the same vision on the matter. “Without the state government, we can never initiate development on the land despite it being a railway asset.
“Ipoh has huge potential. We are not setting a high bar because we want to maximise all aspects, including innovations in developing the area in the next 15 years.”