PNB Development Sdn Bhd, the master developer of the Kota Seri Langat township in Banting, Selangor, expects the overall development to be completed in 2027.
The township covers a total of 809.37ha and it will include a mix of residential, commercial and industrial properties.
The landbank was acquired in 1996 from Dusun Durian Plantation Ltd, a subsidiary of Golden Hope Plantations Bhd, which, in 2007, merged with Sime Darby Bhd and Kumpulan GuthrieBhd to become the world’s biggest palm oil entity.
Between 2001 and 2008, PNB Development had sold parcels of land in Kota Seri Langat totalling 176.04ha to several developers.
One of the biggest land buyers in Kota Seri Langat is Area Management Sdn Bhd.
The company acquired a 86ha plot for RM320 million in August last year through its special purpose vehicle, AIDF Industrial Park Sdn Bhd.
AIDF inked the sales and purchase agreement with Seriemas Development Sdn Bhd ―a unit of PNB Development, which in turn is a subsidiary of Permodalan Nasional Bhd (PNB).
Area Management executive chairman Datuk Stewart LaBrooy had said the company plan to develop The COMPASS @ Kota Seri Langat, a RM4 billion premium logistic and manufacturing hub on the land.
The COMPASS encompasses premium industrial and logistics facilities with resort-style features which will be built in about five years.
The land has a direct frontage to the Federal Route 5, known as the Klang-Banting road, and is just a 30-minutes drive from the Shah Alam Expressway (Kesas) and 10-minutes drive from the South Klang Valley Expressway (SKVE).
PNB is also building an interchange from the township to the West Coast Expressway (WCE), which is under construction and will connect Banting in Selangor to Taiping in Perak.
PNB is responsible for the development of major infrastructures in the township.
An aerial artist impression of Kota Seri Langat obtained from PNB shows that the township will have three major zones for development ― living, working and green.
The living zone would have exclusive housing, affordable and terraced houses, and condominiums.
In the working zone, there will be commercial, industrial and education properties as well as government buildings and housing.
The green zone will have a central park with lake, sport facilities, schools, bicycle tracks, walkways and a mosque.
Several catalytic components have already been developed onsite, namely the Kuala Langat Administrative Centre, the Syariah Courts and Giant hypermarket.
A spokesperson from PNB said Kota Seri Langat is a viable township given its strategic location within the vicinity of both seaports and airports.
It is understood that several logistics companies and multinational firms are already in talks with Area Management to take up space in The COMPASS.
When contacted, Area Management Sdn Bhd chairman Datuk Steward La Brooy said discussions were ongoing and he was optimistic about the takeup of properties in The Compass.
The spokesperson from PNB, meanwhile, said it would focus on completing the development of the township by selling land to other developers, or jointly developing land with them.