PGF Capital Berhad plans to develop its land located adjacent to the Automotive High-Tech Valley in Proton City, Tanjong Malim, Perak into a mix development comprising residential and commercial units taking advantage on the potential growth of the area.
It is known that China’s automotive powerhouse, Zhejiang Geely Holding Group Co Ltd is investing USD10 billion or RM46.8 billion to develop AHTV as Malaysia’s next generation vehicle hub. Geely and DRB-HICOM Berhad formalised their collaboration through the signing of a Joint Venture Agreement in December 2023 to facilitate the development of AHTV that is also expected to attract an additional RM40 billion of investments over the next decade. The initiative is anticipated to benefit Malaysia’s national car company, Proton Holdings Berhad as it plans to fully relocate its manufacturing facilities to Tanjong Malim from Shah Alam, Selangor by 2027. The strategic investments and collaborations are projected to generate 160,000 job opportunities over the span of 10 years.
Leveraging on AHTV’s potential, PGF Capital plans to develop its land adjacent to AHTV into a self-sustaining integrated township over 10 to 15 years. The development will cover 400 acres with over 6,000 residential and commercial units at an estimated Gross Development Value of RM3 billion. The comprehensive project also includes 245.3 acres of agriculture plantations, 53.4 acres for aquaculture activities, 295.5 acres for eco-tourism, 58.2 acres for an eco-retreat, and 71.7 acres for lifestyle communities, including a retirement and wellness village. This comprehensive initiative reflects PGF Capital’s commitment to creating not just a township, but a harmonious and sustainable living environment.
The group said its development plan (Diamond Creek) includes the integration of technology for sustainability living. This encompasses initiatives such as electric vehicle shuttles for a greener transportation option, artificial intelligence-enhanced security systems for a safe living environment, and the adoption of solar energy to mitigate carbon emissions and reliance on traditional power sources.
