He said the project will be a mixed development and will be realised in 15 years through a joint venture between RAC and Menteri Besar Incorporated (MB Inc) of Perak.
“We want to make sure there are business and commercial components besides affordable housing, all of which will be integrated with the Ipoh Railway Station. This is a TOD that is accorded priority by the Government,” he told a press conference here today.
Earlier, he witnessed the signing of a Memorandum of Understanding (MoU) for strategic cooperation on the development of the railway assets in Perak between RAC and MB Inc at the Transport Ministry here. Also present was Perak Menteri Besar Datuk Seri Ahmad Faizal Azumu.
Loke said Perak is among the States with extensive railway land, totalling 2,084.77 hectares.
Meanwhile, Ahmad Faizal said the Perak Government plans to build 50,000 units of houses under the Rumah Perakku programme over the next four years and the development project around the Ipoh Railway Station will contribute towards meeting the target.
“In the interest of continuously upgrading Ipoh City, the Government is committed to making a success of the TOD to enable Ipoh to continue to compete intensively in terms of the mobility index and the ability to reduce the carbon footprint,” he said.