IJM Land Bhd, the property division of IJM Corporation Bhd, announced on Thursday that it has secured eight prime sites in central London for development in collaboration with Network Rail Property.
According to a statement by IJM Land, this development venture holds the potential to accommodate approximately 1,600 new homes, with an estimated gross development value exceeding £3 billion. These sites, collectively spanning up to 3.55 million square feet, offer opportunities for various developments including residential, life sciences, and commercial spaces such as offices.
The selected sites are strategically positioned either above or adjacent to railway infrastructure, leveraging IJM Corp’s expertise in managing complex rail interface projects to unlock their full potential, as stated by Lee Chun Fai, CEO of IJM Corp.
Last year, IJM Land and Network Rail established the Innova partnership, aimed at developing mixed-use projects on brownfield land. Notably, IJM Land successfully delivered the Royal Mint Gardens project, its inaugural venture in London, which involved constructing a 150-meter deck above the Docklands Light Railway lines at Tower Hill.
IJM Land stated that detailed infrastructure and enabling design works are already underway, with engagements with stakeholders and planning authorities scheduled throughout 2024. Following planning approvals, enabling works and over-site construction are set to commence, marking another significant step in the company’s commitment to infrastructure-led regeneration projects in the capital, according to Robin Dobson, Group Property Director for Network Rail.
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