ASIA INFRASTRUCTURE SNAPSHOT - An Overview of Infrastructure Projects across Asia - Colliers
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COLLIERS INSIGHTS VALUATION & ADVISORY SERVICES | ASIA | DECEMBER 2019 ASIA INFRASTRUCTURE SNAPSHOT An Overview of Infrastructure Projects across Asia
P.4-9
CHINA 37 4 143
FOREWORD AIRPORTS RAIL LINES METRO LINES
57.7M+ 65 2,100 1,754 2,800
additional passenger capacity stations km+ stations km+
During the next decade Asia will see massive investment in transportation
infrastructure as cities become more connected and districts within cities P.10-15
become more accessible. The major investment will be in China and India,
supported by their large populations, but many of the ASEAN countries are
also investing in their transportation infrastructure.
INDIA 18
AIRPORTS
1
RAIL LINE
18
METRO LINES
Many of the airports built in Asia in the past 20 years have now reached
or exceeded their design capacities leading to a programme of expansion 336M+ 12 508 884 1,130
in many of the leading cites, while the smaller cities are seeing the additional passenger capacity stations km stations km
development of new airports either to replaced outdated facilities or to
improve their connectivity with the major population centres.
P.16-17
3 1 5
High speed rail has proven to be a viable substitute for air travel in China
and other markets in the region are now expanding their rail development INDONESIA
programmes, but it is mass transit systems in cities that are making the
AIRPORTS RAIL LINE METRO LINES
greatest difference to urban travel to both reduce road congestion in city
centres, and to open up suburban and fringe areas for new development.
40M 4 142 65 100
additional passenger capacity stations km stations km+
The common thread across all the projects is real estate. Airport cities and
developments above and around railway and metro stations are being used
to contribute to both the capital cost of development of infrastructure and
P.18-23
also the ongoing operation, and no major transport system would now be
PHILIPPINES 6 4 6
planned without considering the contribution of real estate.
This report sets out the major infrastructure developments in a selection of AIRPORTS RAIL LINES METRO LINES
Asian markets and outlines the investment and development opportunities
that are likely to flow from them.
100M+ 59 959 52 89
additional passenger capacity stations km+ stations km
DAVID FAULKNER
P.24-29
Managing Director | Valuation & Advisory Services | Asia
2 6 11
Tel: +852 2822 0525 SINGAPORE &
Email: David.Faulkner@colliers.com M A L AY S I A
AIRPORTS RAIL LINES METRO LINES
76M 51 1,548 218 304
additional passenger capacity stations km+ stations km+
Note: All the figures and measurements in this report are approximate and not absolute.
ASIA INFRASTRUCTURE SNAPSHOT | VA L U AT I O N & A D V I S O R Y S E R V I C E S | ASIA | 5
CHINA SHAANXI
SHANXI
Shuozhou Airport
INNER MONGOLIA
Zhenglanqi Civil Airport
Chifeng Linxi Airport
Xilingol League Dongwuqi Airport
Fugu Airport [2022] JILIN
Baoji Airport [2021] Siping Airport [2020]
Dingbian Airport [2021]
HEILONGJIANG
GANSU Suifenhe Airport [2020]
Pingliang Airport
A IR PO RTS
[2020]
HENAN
37
Lushan Airport
Shangqiu Airport [2021]
M AJ OR A I R PO RT PRO J EC TS 3
XINJIANG
HEBEI
57.7M+
Tashkurgan Airport
Yu Tian Airport Xingtai Airport
ADDI T I O N A L PA SS EN G ER C A PAC I T Y SHANDONG
Heze Airport [2019]
Zaozhuang Shanting Airport [2022]
Colliers identified 37 new or expansion airport
ANHUI
projects across China, the majority of which
Bengbu Airport [2025]
are in regional cities with no or limited airlift. CHONGQING Wuhu Xuancheng Airport [2020]
Wulong Airport [2018–2020] Haozhou Airport [2022]
The development of new airports across
China will bring the country closer to
CHENGDU
becoming the largest air transport market in
Chengdu Tianfu International Airport [Stage 1: 2021]
the world by 2024. Leshan Airport [2017–2022]
ZHEJIANG
Jiaxing Airport [2021]
Colliers expects airport projects to provide significant YUNNAN Lishui Airport [2020]
benefits to the regional economies and real estate
Nujiang Airport [2016–2020]
markets, including:
HUBEI
> Support the development of new airport-oriented
Huanggang Airport
economic zones and logistics centres GUIZHOU Jingzhou Airport [2020]
> Promote the economic diversification and regeneration Weining Airport [2022]
of peripheral regional cities with limited airlift. Qianbei Airport
> Boost the tourism industry of regional Chinese cities
JIANGXI
HUNAN Fuzhou Airport
Xiangxi Airport [2020] Ruijin Airport [2020]
Xinhua Youjia Town Chuntian Airport
[2024]
Loudi General Airport GUANGDONG
Chenzhou Beihu Airport [2020] Shaoguan Airport [2025]
Capital International Regional Domestic Civil-military co-use [Expected completion year]
ASIA INFRASTRUCTURE SNAPSHOT | VA L U AT I O N & A D V I S O R Y S E R V I C E S | ASIA | 7
SHENYANG-BAIHE HIGH SPEED RAILWAY
New rail line
RAI L 438 km
(H IG H SPEED RAIL ) 13 stations
4
> Connecting Liaoning and Jilin
> Economic and residential development opportunities
are expected along the new rail corridor, which will
R AI L L I N E PRO J EC TS have an upward effect on land values
BEIJING-KOWLOON HIGH SPEED
65
New rail line (partial)
638 km
STATI O N S 16 stations
2,100km+
TOTAL L EN GT H
>
>
Beijing-Henan section
Land values along the railway line
are expected to rise, particularly in
the Xiongan New Area (Hebei)
SICHUAN-TIBET RAILWAY
New rail line [2027]
403.11 km
18 stations
> Connecting Chengdu to Lhasa
> More development opportunities in Tibet
> Local tourism industry enhanced by CHONGQING-KUNMING HIGH-SPEED RAILWAY
reduced travelling time by train
New rail line [2025]
698.96 km
18 stations
> Connecting Chongqing to Kunming
> Increased rail connectivity is expected to generate
economic opportunities in a low-income region,
particularly in the logistics sector
Capital Rail line terminals Rail lines (for illustration purpose only) [Expected completion year]
ASIA INFRASTRUCTURE SNAPSHOT | VA L U AT I O N & A D V I S O R Y S E R V I C E S | ASIA | 9
> The city express lines are planned > The land values in the sub-centres of Beijing expected to be positively
for the city’s expanding development impacted with the reduced commuting time between the core city and
beyond the core city to connect the surrounding new towns located northeast of Beijing
surrounding areas with the core city
> Land value and residential housing market along the new added lines
ME TRO > Land value and residential housing
prices along the new lines are
are expected to significantly increase
> Expansion of the transit system will open up new areas for commercial
expected to significantly increase
and residential development
> Significant opportunities will emerge for transit-oriented developments
143
M E TRO L I N E PRO J EC TS
17
New & expansion [2023]
19
New & expansion [2020]
450.41 km 248.2 km
1,754
222 stations 123 stations
WUHAN BEIJING
STATI O N S
> Land value and residential housing
2,800km+
prices along the new added lines are
expected to significantly increase
TOTAL L EN GT H 9
New & expansion [2023]
> Expansion of the transit system will
open up new areas for commercial
and residential development
228.1 km > Significant transit-oriented
development (TOD) opportunities will
163 stations emerge around new stations
TIANJIN
17 14
11
New & expansion [2023] New & expansion [2023]
> The land value around Pi Town, core 418.06 km 289.19 km
city and high-tech zone is expected
to increase considerably 231 stations New & expansion [2023]
170 stations
Significant transit-oriented
414.2 km
>
NANJING
development (TOD) opportunities CHENGDU 217 stations
will emerge around new stations
SHANGHAI
6 15
26
New & expansion [2023]
New metro lines [2020]
258.1 km
53.77 km
New & expansion [2023] 210 stations
104 stations
> Shorter commuting time will 465.3 km GUANGZHOU
raise residential land values FOSHAN 314 stations
along the Guangfo line
SHENZHEN
Capital City Bubble size proportional to the number of projects [Expected completion year]
ASIA INFRASTRUCTURE SNAPSHOT | VA L U AT I O N & A D V I S O R Y S E R V I C E S | ASIA | 11
INDIA
PROJECTS
[2025–2030]
> Managed by private operators, these airports cater to India’s largest
Amritsar metropolitan regions. While Bangalore and Hyderabad are undergoing
significant capacity expansion, Mumbai and Delhi airports are focused
on monetizing landside real estate. These airports are expected to
create 6-8 million sqm of office, hospitality, retail and entertainment
JEWAR AIRPORT developments over the next 5-10 years
[PHASE I: 2023]
> 5,000 hectares airport to complement
the existing Delhi airport in the PROJECTS
National Capital Region. Planned to [2023]
A IR PO RTS have six runways, making it among the
world’s largest airports
> Recently awarded to the private sector, these airports are expected to
add significant capacity, undergo modernization and create demand for
> Zurich Airport recently emerged as landside development
18
the successful bidder to implement on
PPP basis. The project will create real Delhi Airport
estate development opportunities along
the Yamuna Expressway in the State of
AI R PO RT PRO J EC TS Uttar Pradesh and the NCR
Lucknow Airport
336M+
Jaipur Airport
Guwahati Airport
Varanasi
ADDI T I O N A L PA SS EN G ER C A PAC I T Y
Ahmedabad Airport
Kolkata Airport
Indore
Pune Airport Raipur BHOGAPURAM AIRPORT
Mumbai Airport [2024]
Nagpur Airport Bhubaneswar > A new airport near Visakhapatnam
> The PPP project will open up opportunities
NAVI MUMBAI AIRPORT across all sectors in the newly formed
[PHASE I: 2022] State of Andhra Pradesh, and also the
industrial belt along India’s east coast
> A new 1,160 hectare airport
> Planned as a secondary airport to Hyderabad Airport
decongest Mumbai airport, the project
will have connectivity to metro as well PROJECTS
as the Trans-Harbour Link. With India’s [2021]
largest sea port (JNPT) and the upcoming
Bangalore Airport > The only Government-run airports among India’s major cities, these
Navi Mumbai SEZ in close proximity, this
airports are undergoing significant capacity expansion, new terminal
project will create opportunities across Chennai Airport buildings and other amenities
sectors along the region
MOPA AIRPORT Trichy PROJECTS
[2021] [2020]
> A new approx. 232 hectare airport > The Government is expected to initiate the process of awarding some
proposed near Pernum North Goa Thiruvananthapuram Airport of these airports to the private sector in 2020. This will create new
investment opportunities for core office and retail asset classes, as
> The PPP project is being developed well as drive demand for sectors like warehousing and industrial
with a planned capacity of 5 million
Mangalore Airport development in these cities
passengers – leading to significant
hospitality development in the tourist
destination of Goa
Capital New (private public participation) Expansion Planned for privatization [Expected completion year]
ASIA INFRASTRUCTURE SNAPSHOT | VA L U AT I O N & A D V I S O R Y S E R V I C E S | ASIA | 13
RAI L Sabarmati Junction
(H IG H SPEED RAIL ) Railway Station
1
R AI L L I N E PRO J EC T
12
STATI O N S
508km
TOTAL L EN GT H
Mumbai
BKC Station
MUMBAI AHMEDABAD HIGH SPEED RAIL CORRIDOR
New rail line [2023]
508 km
12 stations
> India’s first High Speed Rail project in India, connecting the cities of Mumbai and Ahmedabad
> Create new commercial, retail and residential destinations along the 508km corridor, benefiting
from seamless connectivity between the existing International Financial Services Centre (IFSC)
near Ahmedabad and Mumbai’s financial district of Bandra-Kurla Complex (BKC)
> Opportunities for transit-oriented development along the 12 stations
Capital Rail line terminals Rail lines (for illustration purpose only) [Expected completion year]ASIA INFRASTRUCTURE SNAPSHOT | VA L U AT I O N & A D V I S O R Y S E R V I C E S | ASIA | 15
> Supplement India’s largest metro network > Create new commercial and retail destinations > Provide mass transportation options in some of India’s
servicing the world’s second most populous across these cities, with opportunities for transit- fastest growing cities
urban agglomeration oriented developments in central, suburban and
> Create new commercial, retail and hospitality destinations,
peripheral locations
ME TRO
> Enhance last mile connectivity to central, with opportunities for transit-oriented developments
suburban and peripheral locations of the > Create new destinations for affordable residential
> Improved connectivity will provide more economic
three major cities in India’s National Capital development as connectivity improves in
opportunities and enhance the ability of these cities to
Region (NCR) peripheral locations
attract IT/ITES occupiers and talent
18
New & expansion [2023]
New & expansion [2024] 15 km
New & expansion [2024] 104 km 9 stations New metro line [2023]
M E TRO L I N E PRO J EC TS
31 km 80 stations NOIDA 31.55 km
25 stations DELHI New & expansion [2023]
30 stations
884 GURUGRAM 11.1 km INDORE
12 stations
STATI O N S LUCKNOW
New & expansion [2026] New metro line [2023]
1,130km
30 km 27.87 km
32 stations 30 stations
New metro line [2022]
New & expansion [2024] JAIPUR BHOPAL
48.3 km
TOTAL L EN GT H
61.73 km
35 stations
50 stations
NAGPUR
AHMEDABAD
New & expansion [2022]
New metro line [2025]
29 km New metro line [2024] 70 km
New & expansion [2024] 22 stations New & expansion [2020] 54 km 46 stations
308 km 53 stations KOLKATA
THANE 11 km
New metro line [2020] 183 stations 10 stations PUNE
26.26 km MUMBAI HYDERABAD
21 stations New & expansion [2023]
NAVI MUMBAI New & expansion [2025] 72 km
118.9 km 61 stations
> Expansion and new lines to supplement a single 11km line in one of the densest
metro corridors in the world
128 stations BENGALURU
> Enhance last mile connectivity to central, suburban and peripheral locations of the
CHENNAI
three major cities in India’s Mumbai Metropolitan Region (MMR)
> Provide mass transportation options in India’s prominent IT destinations
> Create new commercial and retail destinations across these cities, with opportunities
for transit-oriented developments in central, suburban and peripheral locations > Create new commercial destinations, decongest CBDs and provide more
options for occupiers
> Create new destinations for affordable residential development as connectivity
improves in peripheral locations > Opportunities for transit-oriented developments in both central and
New & expansion [2024] suburban locations
11.2 km
11 stations
KOCHI
Capital City Bubble size proportional to the number of stations [Expected completion year]ASIA INFRASTRUCTURE SNAPSHOT | VA L U AT I O N & A D V I S O R Y S E R V I C E S | ASIA | 17
INDONESIA JAKARTA-BANDUNG HIGH-SPEED TRAIN
New rail line [2021]
142 km
SOEKARNO HATTA 4 stations
INTERNATIONAL AIRPORT Halim, Jakarta
TERMINAL 4
A IR PO RTS [2024]
> The new high speed rail will create opportunities for
four new transit-oriented developments(TODs) around
3
> The new terminal will support tourism growth the four planned stations
across Indonesia by enhancing connectivity > The new TODs will include two mixed-use
between Jakarta and emerging tourism developments with residential, retail, office and hotel
destinations across the country, with a components and two primarily residential townships
AI R PO RT PRO J EC TS considerable increase in passenger capacity
> The two new TOD developments will help establish new
40M
> Terminal 4 will bring potential for the commercial and business hubs to the east of Jakarta
development of an airport city on the landsite
which may include new hotel, office and > Land value in the vicinity of the four stations is expected
retail/leisure developments to rise considerably upon the completion of the high
ADDI T I O N A L PA SS EN G ER C A PAC I T Y
Tegalluar, Bandung speed rail
> As a result, this new development could
be established as an attractive and unique
mixed-use lifestyle destination on the west
side of Jakarta
RAI L > The new MRT lines are expected to raise the profile of TB Simatupang area
as the secondary business district in Jakarta, with new office and residential
(H IG H SPEED RAIL ) BANDARA SYAMSUDDIN developments to be built along the MRT corridor
NOOR AIRPORT
1 4
> The new MRT lines are expected to spur residential developments in locations
[2019] not currently served by rapid transit, thereby materially increasing land value
> Syamsudin Noor Banjarmasin is targeted to near new MRT stations
be able to accommodate 7 million passengers > However, in the short term, the existing restrictions in land use policy and
R AI L L I N E STAT IO NS
per year. Both passengers on a domestic and regulatory framework will continue to limit development activity, especially
142km
international scale for office and other types of commercial developments, as local planning
> Increase capacity from 1.5m passengers per authorities do not allow for material densification of existing properties
year to up to 7m per year. On the air side, > In the long-term, as the government updates its land-use planning policy and
TOTAL L EN GT H the expansion of the apron will increase the allows for on-site development intensification within TOD areas, there will
capacity from 16 units to 25 units. Syamsundin be material redevelopment opportunities of underutilized commercial and
Noor Airport will set a new benchmark for MRT Phase 1 & 2 residential properties located within walking distance from new MRT stations
airport services when it is completed New metro line [2024]
Phase 1: 16 km | 13 stations
ME TRO JENDERAL BESAR
Phase 2: 8.6 km | 7 stations LRT Jakarta Corridor 2
Expansion [2022]
5 65
SOEDIRMAN AIRPORT > Elevated and underground MRT line that 6 km
[2020]
will connect the North to South Line
6 stations
M E TRO L I N E PRO J EC TS STAT IO NS
> The construction of the airport was also carried LRT Jabodebek Phase 1 > An extension line to connect
out in stages, where in phase I has a capacity New metro line [2021] the Jakarta area
100km+
of 98,812 passengers per year, then phase II
has a capacity of 440,440 passengers per year, MRT Phase 3 Stage 1 & 2 44 km
then phase III has a capacity of around 600,000 Expansion [2027] 17 stations
passengers per year Stage 1: 20 km | 13 stations
TOTAL L EN GT H
Stage 2: 12 km | 10 stations
> Play a significant role in boosting the economy > A new LRT that will connect Jakarta, Bogor, Depok, and Bekasi
especially of the 5 closest regions namely
Banjarnegara, Purbalingga, Banyumas, Cilacap > An extension line to connect the East to West Line
and Kebumen
Capital New Expansion Rail line terminals Rail lines (for illustration purpose only) [Expected completion year]ASIA INFRASTRUCTURE SNAPSHOT | VA L U AT I O N & A D V I S O R Y S E R V I C E S | ASIA | 19
PHILIPPINES BULACAN INTERNATIONAL AIRPORT PROJECT
(NEW MANILA INTERNATIONAL AIRPORT)
A new international gateway airport
On-going pre-construction activities as of 30 Sep 2019
> A new international gateway airport
> Will open up the northern part of Manila and provide opportunities for
Industrial and residential investments around the airport
A IR PO RTS SANGLEY AIRPORT
Convert existing airport into an international hub, alternative to NAIA
6
On-going implementation
> Decongest NAIA and increase real estate activity in Cavite area,
cementing Cavite’s role as part of expanded Metro Manila
AI R PO RT PRO J EC TS
100M+
ADDI T I O N A L PA SS EN G ER C A PAC I T Y
KALIBO INTERNATIONAL AIRPORT
A facility upgrade of the International Airport
Under evaluation
NEW BOHOL INTERNATIONAL AIRPORT
Expansion and enhancement of facilities
On-going evaluation by the ICC-TB
> Will further enhance the tourism industry and provide opportunities in
this sector
LAGUINDINGAN AIRPORT
Airport Expansion
Under evaluation
DAVAO INTERNATIONAL AIRPORT
Airport Expansion
Under evaluation
> Will open up opportunities for Mindanao’s commercial development
Capital New ExpansionASIA INFRASTRUCTURE SNAPSHOT | VA L U AT I O N & A D V I S O R Y S E R V I C E S | ASIA | 21
RAI L SUBIC CLARK RAILWAY
(H IG H SPEED RAIL ) New rail line [2022]
71 km
4
R AI L L I N E PRO J EC TS
6 stations
PNR SOUTH LONG HAUL
Expansion [Partial in 2022]
> A 71-km freight railway
639 km
59
> Connecting Subic Bay Freeport Zone
and Clark Freeport Zone, providing a link
between Port of Subic Bay and Clark 9 stations
International Airport
STATI O N S
> Will provide access to stock and shipments
for logistics and industrial companies > A 649-km line that will connect Metro
959km+
Manila to Southern Luzon provinces
> Provides an easier and faster access to
the Bicol region
TOTAL L EN GT H > Agriculture developments are strong in
the area
> Shortened travel time from 12 hours by
car to only 6 hours
NORTH-SOUTH COMMUTER RAIL PLAN
Expansion [Phase 1: 2022, Full Operation: 2023]
147 km
36 stations MINDANAO RAIL PROJECT
New rail line [2022]
> A 147-km railway that will link Clark 102 km
>
Airport to Manila and Calamba City
Will improve access Pampanga (already
8 stations
established in the south as an alternative
business location other than Manila)
> 102-km rail project to traverse around
> Logistics and industrial developments will Davao (Tagum-Davao-Digos)
be particularly strong in that area
> Will provide faster travel and will pass
through 8 stations
> Shorten travel time from Tagum, Davao
del Norte to Digos , Davao del Sur (3.5
hours to 1.3 hours)
Capital Rail line terminals Rail lines (for illustration purpose only) [Expected completion year]ASIA INFRASTRUCTURE SNAPSHOT | VA L U AT I O N & A D V I S O R Y S E R V I C E S | ASIA | 23
MEGA MANILA SUBWAY MRT-7
New metro line [Partial: 2022, Full operation: 2025] Expansion [2020]
36 km 23 km
ME TRO 15 stations 13 stations
> A 36-km underground mass > A 23-km extension of the MRT
transport system
> Connects San Jose del Monte Bulacan
6
> Running from Quezon City to Pasig, to the MRT 3 North Avenue Station in
Makati, Taguig and Pasay City Quezon City
> A lot of development opportunities > Bulacan is already a well established
M E TRO L I N E PRO J EC TS around the stations, all cities will residential area, will enhance the
benefit, especially business space development opportunities in this sector
52
STATI O N S
LRT LINE 2 WEST EXTENSION LRT LINE 2 EAST EXTENSION
89km
Expansion [2023] Expansion [2020]
3 km 4 km
TOTAL L EN GT H 2 stations 2 stations
> A 3.02-km extension of the > 4-km extension of the LRT Line 2
LRT Line 2
> Connects Santolan Station to Masinag
> Connects the LRT from Recto Junction in Antipolo, Rizal
Station to Pier 4 of the Manila
> Increase property value with improved
North Harbor
transportation. Residential, and re-
> Provide logistics companies development opportunities
access to Manila North Harbor
MAKATI SUBWAY
New metro line [2025]
LRT LINE 1
SOUTH EXTENSION PROJECT 11 km
Expansion [2022]
10 stations
11.7 km
10 stations > A 10-km intra-city subway system
> Running across Makati’s business
> A 11.7-km extension of the LRT from the district
existing Baclaran station to the future > Will give rise to future parking
Niyog station in Bacoor, Cavite structures and transport feeders
> Improves access to Cavite. Opportunities outside the existing business districts
for mixed use development
Capital Metro line terminals Metro lines (for illustrative purpose only) [Expected completion year]ASIA INFRASTRUCTURE SNAPSHOT | VA L U AT I O N & A D V I S O R Y S E R V I C E S | ASIA | 25
SINGAPORE &
MAL AYSIA
PENANG INTERNATIONAL AIRPORT
[2025]
A IR PO RTS > The limited airport capacity was a key barrier to
Penang’s tourism sector expansion in recent years
> The airport expansion will support tourism
M A L AYS I A growth which in turn will provide development
opportunities in the retail, hotel and leisure sector
1
at Penang Island and in around the existing airport
> The airport expansion – and tourism growth
expected as a result - is also expected to
have a positive effect on hotel room rates and
AI R PO RT PRO J EC T capital values due to land constraints for hotel
development and growing tourism
6M+
ADDI T I O N A L PA SS EN G ER C A PAC I T Y
SINGAPORE CHANGI AIRPORT
S I N GAPOR E TERMINAL 5
[2030]
1
AI R PO RT PRO J EC T
> The new terminal 5 will expand the airport capacity
by 50 million passenger per year by 2030 and up
to 70 million if necessary in the future
> As part of the Terminal 5 programme, a mixed-use
airport city development is envisionned on the new
70M
terminal’s landside
> The landside development at Terminal 5 will
contribute to the transformation of the Changi
ADDI T I O N A L PA SS EN G ER C A PAC I T Y region into a major commercial, employment and
leisure destination in Singapore
> The Airport City will provide additional non-
aeronautical revenue for Changi Airport which may
have support future airport expansion
Capital Expansion [Expected completion year]ASIA INFRASTRUCTURE SNAPSHOT | VA L U AT I O N & A D V I S O R Y S E R V I C E S | ASIA | 27
EAST COAST RAIL LINK (ECRL) GEMAS-JOHOR BAHRU RAIL
New rail line [2026] New rail line [2021]
648 km 192 km
RAI L 20 stations 11 stations
(H IG H SPEED RAIL )
> A railway link connecting Port Kota Bahru, > A continuation of the Singapore -
M A L AYS I A Klang on the Straits of Malacca to Malaysia Kunming Rail Link to connect to the
Kota Bharu in northeast Peninsular Southern tip of the country
4 41
Malaysia, connecting the East Coast
> Will reduce travelling time from Johor to
Economic Region states of Pahang,
Kuala Lumpur from 6 hours to 3.5 hours,
Terengganu, and Kelantan
which will considerably support growth
R AI L L I N ES STAT I O N S > Aimed to link Malaysia’s east coast in tourism visitation in Johor Bahru
with the Malacca Strait on the west
> The new line is expected to spur
1,194km
> Will spur developments of housing demand and prices for residential units
and supporting amenities along the near rail stations from Johor Bahru to
transport nodes the west coast of Malaysia
> Expect residential and industrial > Hotel development opportunities are also
TOTAL L EN GT H
property prices near future expected to arise in locations near the
stations of the new rail corridor to
Kuala Lumpur, new stations as the land-use planning
appreciate in the coming future Malaysia policies are adopted for these areas
S I N GAPOR E Port Klang,
Malaysia Gemas,
2 10
Malaysia
HIGH-SPEED RAIL (KL-SG HSR)
New rail line [2026] Johor Bahru,
R AI L L I N ES STAT I O N S Malaysia
350 km
354km+
TOTAL L EN GT H
8 stations
Jurong East, Singapore
Woodlands, Singapore
SINGAPORE-JOHOR BAHRU RAPID
TRANSIT SYSTEM LINK
> Will have significant impact on the real estate
development potential of the Jurong Lake
New rail line [2024]
4.2 km
District in Singapore and Bandar Malaysia
projects in Kuala Lumpur
> Will raise the profile of Jurong Lake District as
a major business, tourism and lifestyle quarter
2 stations
in Singapore, and support the government
objective to turn this district into the city-
> A high-volume shuttle service
state’s second CBD
connecting Singapore and Johor
> New nucleus of mixed-use developments Bahru, Malaysia
of offices and retail will be created with the
> Will support the growth of Woodlands
addition of residential townships along the rail
Regional Centre as an anchor
corridor between Johor and Kuala Lumpur
development of the North Coast
> Material increase in land values are expected
> Will further enhance the accessibility
around the future stations in Malaysia,
to Woodlands, spurring housing
particularly those located in existing
demand especially from Johoreans
commercial and employment areas
who work in Singapore
> Existing development centres will also be
linked up, boosting the connectivity and value
of commercial properties
Capital Rail line terminals Rail lines (for illustration purpose only) [Expected completion year]ASIA INFRASTRUCTURE SNAPSHOT | VA L U AT I O N & A D V I S O R Y S E R V I C E S | ASIA | 29
> A new monorail that would be integrated with the
KVMRT Sungai Buloh-Serdang-Putrajaya Line
(MRT 2) and KLIA Transit Services of the Express
Rail Link via the Putrajaya Sentral station
ME TRO > Will provide TOD opportunities around future
stations, including mixed-use properties with
hospitality, commercial and residential components PENANG
> The improved connectivity between the airport
M A L AYS I A express and the monorail will help position
Putrajaya as a key hotel and commercial hub near > A new LRT Line which links
5 126
the Kuala Lumpur International Airport the Penang International
Airport with the heart of
> The new infrastructure will complement the
George Town
government’s plans to position Putrajaya as the
e-sport hub in Malaysia, opening up opportunities > Will spur developments in
M E TRO L I N E PRO J EC TS STAT I O NS
for new youth oriented real estate development the area and drive demand
near the new rail stations for future housing projects
179km+
TOTAL L EN GT H
Putrajaya Monorail
New LRT line [2026]
Line 1: 13.2 km | 18 stations
KUALA LUMPUR
Bayan Lepas LRT Line
New LRT line [2024]
29.9 km
Line 2: 6.8 km | 7 stations 27 stations
S I N GAPOR E
> The thirteenth rail transit line that will form a
6 92
part of the Greater KL / Klang Valley Integrated SINGAPORE
Transit System
Thomson-East Coast Line
> Expect prices of properties located within walking New metro line [2024]
M E TRO L I N E PRO J EC TS STAT I O NS distance from future stations to appreciate by
circa 10% to 20% in the future as this corridor is 43 km
currently not served by rapid transit 32 stations
125km+
TOTAL L EN GT H
Sungai Buloh-Serdang-Putrajaya (SSP)
Line (MRT 2)
New MRT line [Ph.1: 2021, Ph.2: 2022]
> Will achieve government’s plan of having 8 in 10 homes to be within a
10-minute walk of a train station by 2030
Cross Island Line (CRL)
52.2 km > Will provide significant new TOD (transit-oriented development)
opportunities in areas not currently served by the MRT
New metro line
[Ph.1: 2029, Ph.2: 2031]
37 stations > Some of the new lines will support the development of new precincts 50 km
such as the Jurong lake District, Jurong Innovation District and Punggol
Digital District
30 stations
> The second line of the Klang Valley Mass Rapid Transit (KVMRT)
Project to serve a corridor from Sungai Buloh to Putrajaya > Will reduce travelling time and increase connectivity between Singapore’s
> New LRT Line to connect Bandar Utama
main economic and employment centres and residential areas currently not
> Property prices are expected to soar dramatically in established to Klang and extending rail connectivity
areas in Klang Valley to the Western Corridor of GKL/KV
served by mass rapid transit Jurong Region Line (JRL)
New metro line
> The residential market in these areas is expected to capture significant
> A number of developments have started since the > Will improve accessibility to LRT stations [Ph.1: 2026, Ph.2: 2027 , Ph.3: 2028]
interest from both buyers and developers, with considerable capital value
announcement of the MRT Line, indicating growing demand for
mid to upmarket properties
and other transport nodes
increases on the horizon 24 km
> Expect prices of properties within 500 m to 1 km of the stations
> Expect property prices for developments
in close proximity to these stations to
24 stations
Circle Line (CCL)
to increase by circa 5% to 10% on average experience a 5% to 10% increase Extension [2025]
Downtown Line (DTL)
Mass Rapid Transit Line 3 (MRT 3) Light Rail Transit (LRT) 3 North East Line (NEL) Extension [2030] 4 km
New MRT line [2026] New LRT line [2024] Extension [2023] 2.2 km 3 stations
40 km 37 km 2 km 2 stations
11 stations 26 stations 1 station
Capital Project location [Expected completion year]Our Specialists
in the Region
Primary Author
JONATHAN DENIS-JACOB
Associate Director
Valuation & Advisory Services
+65 6531 8681
Jonathan.Denis-Jacob@colliers.com
Contributors
ASIA INDIA
DAVID FAULKNER AASHISH AGARWAL
Managing Director Senior Director
+852 2822 0525 +91 90 2263 0893
David.Faulkner@colliers.com Aashish.Agarwal@colliers.com
CHINA PHILIPPINES
FRED FU THERESA TEODORO
Director Director
+86 10 8541 1096 +63 2 8858 9051
Fred.Fu@colliers.com Theresa.Teodoro@colliers.com
YI YOU LILA SANTELICES
Assistant Manager Senior Manager
+86 10 8541 1107 +63 2 8858 9055
Yi.You@colliers.com Lila.Santelices@colliers.com
VERONICA CABIGAO
INDONESIA Senior Analyst
+63 917 848 8376
MONICA KOESNOVAGRIL Veronica.Cabigao@colliers.com
Director
+62 21 3043 6740
Monica.Koesnovagril@colliers.com
MALAYSIA & SINGAPORE
SARITA HERMAN JONATHAN DENIS-JACOB
Senior Consultant Associate Director
+62 21 3043 6888 +65 6531 8681
Sarita.Herman@colliers.com Jonathan.Denis-Jacob@colliers.com
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