SEREMBAN: Matrix Concepts Holdings Bhd continues to redefine the property landscape with its visionary strategies and commitment to delivering innovative developments that resonate with modern lifestyles.

The group broke ground for the first phase of the Malaysia Vision Valley City (MVV City) project in Negri Sembilan on Tuesday.

Designated as the crown jewel of the Malaysia Vision Valley 2.0 (MVV 2.0), the MVV City spans 8,796 acres.

MVV 2.0 is a large-scale public-private partnership economic development plan situated in Negri Sembilan, strategically located near the southern development zone of Selangor.

It encompasses the “Golden Triangle” area of Seremban, Nilai, and Port Dickson.

At the core of MVV City lies a 2,382 acre hub (MVV City Phase 1) by Matrix Concepts.

Comprising over 1,000 acres of industrial space, 15,000 residential units and a 174-acre commercial lot, MVV City Phase 1 has a gross development value of RM15bil and a 12-year development period.

Matrix Concepts chairman Datuk Mohamad Haslah Mohamad Amin said the development of MVV City marks a significant milestone in a transformative journey that goes beyond construction and infrastructure advancements, but is also about shaping a sustainable future.

“Dubbed the “Pulse of the Future,” MVV City embodies the heartbeat of the nation’s aspirations, expanding our vision of building sustainable and interconnected communities, opening up ideas and opportunities, and promises a transformative impact,” he said during his speech at the groundbreaking ceremony of MVV City.

Matrix Concepts will be jointly developing MVV City Phase 1 with the Negri Sembilan state government (NS Corp).

Matrix Concepts is set to spearhead the development of MVV City Phase 1 in partnership with NS Corp. The property developer holds an 85% stake in the project and will be leading the development.

The first project launch is anticipated in the financial year 2026 (FY26).

Envisioned as a pioneering smart city, MVV City is designed to be a “dynamic hub” where “innovation, enterprise, and community converge”.

Mohamad Haslah added the development will feature advanced economic zones alongside business centres and educational institutions, including the establishment of Technical and Vocational Education and Training facilities.

As such, he noted that the group cannot adopt the same approach for the development of MVV City as it did with Sendayan Developments.

“Our goal is to create a city of the future. We have plans to create more open spaces and recreational areas.

“It is not just about building homes. It is about creating an inclusive and sustainable community that aligns with the needs of the people.

“At this stage, it is too early to outline the specific components that will be included in the development, it will certainly address the needs of the future,” Mohamad Haslah said.

The development of MVV City is expected to support Matrix Concepts earnings growth from FY26 onwards.

Already, Negri Sembilan Mentri Besar Datuk Seri Aminuddin Harun said MVV City has received strong support from local investors.

A key catalyst of the MVV 2.0 project is the construction of the Kuala Lumpur-Singapore High-Speed Rail (HSR), as the MVV is designated as one of the stations in the HSR.

“We all know that the HSR is crucial for Negri Sembilan, but there has been no official announcement yet about the project’s continuation. However, based on ongoing discussions, the HSR plan will proceed as planned. Perhaps in a year or two, new announcements will be made in this regard.

“I see 2025 as a pivotal year for MVV 2.0, where development will be concentrated in this area. Not only are the plans and approvals in place, but there is also strong cooperation between Selangor and Negri Sembilan at the borders, which give a greater impact to the project, particularly from 2025 onwards,” he said.

Yesterday, Transport Minister Anthony Loke said the government is set to make a decision on the revival of the HSR project by the end of the month or early January.

On the expected revenue contribution from the MVV City for Matrix Concepts, Mohamad Haslah said it is difficult to determine at this stage.

“We need to look at the components and types of products that will be offered. Once we have a clearer picture, we can better gauge the revenue potential.

“However, as far as the group is concerned, I always say that we can’t go wrong because we are always moving forward,” he said.

The concept of MVV was first introduced as a landmark economic initiative under the 11th Malaysia Plan in 2015. After years of integration and planning, it has evolved into a significant economic corridor in the country, poised to boost Malaysia’s gross domestic product growth by 6.2% to 7.3%.

 

Source: The Star, 19 December 2024