Malaysian property company IJM Land Berhad (IJM Land), via its 51%-owned subsidiary, RMS (England) 2 (RMS 2), has launched a partnership with Network Rail to explore development opportunities using the latter’s UK land portfolio.
The partnership is considering sites in Central London and the South East that can be developed into mixed-use schemes, residential, commercial or logistics properties.
Datuk Wong Tuck Wai, CEO of IJM Land, said: “The partnership between Network Rail and RMS 2 follows the successful delivery of the Royal Mint Gardens project that has paved the way for similar construction solutions to be replicated in other locations.
“Moving forward, we are leveraging on our experience in rail over-site developments, which involves managing the complexities of the design, construction and health and safety requirements whilst keeping the railway operational at all times.
Robin Dobson, group property director of Network Rail, added: “This is an important milestone between IJM Land and Network Rail as we work together to unlock land opportunities around the railway estate specifically focused on rail over-site developments in Central London.
“There is huge potential to regenerate a number of strategic sites, working closely with key stakeholders to deliver housing, workspace and a wide mix of uses for local communities, creating jobs and investment. This demonstrates the opportunity that rail infrastructure can play as a catalyst for sustainable development.”
Lee Chun Fai, group CEO and managing director of IJM Corporation Berhad, parent company of IJM Land, said: “We are excited about the opportunities this partnership presents. While it enables us to expand IJM’s footprint in Great Britain, joining forces with Network Rail will allow us to participate and be a co-creator in the growing railway property development sector.
“Without having to unlock new land, we can increase the supply of residential, commercial and social infrastructure, as well as integrate communities previously disconnected by the railway. Schemes like the Royal Mint Gardens have proven to be a catalyst of urban regeneration, drawing further investments into the area.”
