CYBERJAYA, May 31 — Prime Minister Datuk Seri Najib Razak today officiated the 57.06 hectare transit-oriented development (ToD) called Cyberjaya City Centre with a gross development value (GDV) of RM5.3 billion for the first phase of the project.

A joint development between Malaysian Resources Corporation Bhd and Cyberview Sdn Bhd, the project would be developed in three phases with a total GDV of RM11 billion.

Saying that the latest ToD project would take the nation’s technology hub to the next level, Najib added that the Cyberjaya City Centre would be a high-impact development and the key investment in Cyberjaya.

“The project will be a game changer and will completely transform Cyberjaya into a global technology hub and smart city.

Najib said the digital economy had the potential to contribute 20 per cent towards the country’s Gross Domestic Product by 2020.

“In mobilising the digital economy, the development of a conducive digital ecosystem must be given emphasis,” he said, adding that since the past few years, the economic agenda has been stepped up and fine-tuned from time to time via several initiatives and cooperation which were introduced to strengthen the objective.

Najib said technology (tech) companies in Cyberjaya had generated revenue of more than RM12.5 billion last year.

“This is an increase of 28 per cent from 2015 and the total investments by these companies in 2016 reached more than RM8 billion,” he said.

Cyberjaya, currently, had more than 800 tech companies and 48 of them were multinational companies.

Meanwhile, the main feature of the Cyberjaya City Centre ToD project would be its connectivity via rail and road.

Located adjacent to Putrajaya, the Federal administrative capital of Malaysia, it is connected to Kuala Lumpur via two major expressways and would be integrated with the upcoming MRT Line 2 (Kajang-Serdang-Putrajaya).

Cyberjaya City Centre will feature a convention centre and hotel, office towers integrated with a Mass Rail Transit station, shopping mall, as well as, serviced apartments with retail outlets and would form an integral part of Malaysia’s Multimedia Super Corridor. — Bernama