Smart cities: A real estate play?
V. Sanjugtha | 08 Nov 2019 00:30
More than 20 years ago, the Multimedia Super Corridor (MSC) was launched with the aim of propelling the nation into an information and knowledge age to realise Vision 2020.
However, the 50km stretch - between the Kuala Lumpur City Centre and the Kuala Lumpur International Airport via Putrajaya and Cyberjaya - which promised high-speed internet and temporary tax breaks to its players has turned out to be more of high-priced property developments, residential and commercial, than actually propelling the nation into a digital economy.
Part of this, a source tells FocusM, is because in the property sector, the endgame is always of pursuing ways to maximise profits, seeking differential factors that would cost as little as possible to implement yet fetch a premium from credulous buyers.
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