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Waterfront Development for Residential Property in Malaysia

Eves, Chris, Yassin, Azlina, & McDonagh, John (2009) Waterfront Development for Residential Property in Malaysia. In Proceedings of the 15th Pacific Rim Real Estate Society Conference, University of Technology, Sydney.

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    Abstract

    Rivers and water are valuable natural resources for human life, environment and national development. Recognition of water resources as national heritage will contribute towards more long term sustainable property development. Waterfront development is already a well-established phenomenon internationally. In Malaysia, as the economy began to change in 1980s, so did the land uses along many of the river and waterfront locations. The pressures of new technology coupled with an urban population growth and urbanization began to force a transition from water dependent industry to a variety of non-water dependent developments such as apartments, offices, and retail shopping areas. Residential waterfront development has taken advantage of available land and water amenities and incorporated as a feature or “selling point” of the development. It has been found that wide views of water add an average of 59% to the value of waterfront property, as well as providing attractive landscaping and better property neighborhoods respectively. Development of waterfront lands in Malaysia occurred with limited federal, state, or municipal planning guidance; resulting in cost aspects like flooding and pollution. Although some waterfront development projects continue to remain profitable with a maintained successful public access component, many have not. This paper provides a brief introduction to the research project to address this issue, which is currently on-going.

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    ID Code: 28895
    Item Type: Conference Paper
    Keywords: Waterfront, Waterfront development, Riverfront, Residential properties, Property development Guideline
    Subjects: Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > COMMERCIAL SERVICES (150400) > Real Estate and Valuation Services (150403)
    Divisions: Past > QUT Faculties & Divisions > Faculty of Built Environment and Engineering
    Past > Schools > School of Urban Development
    Copyright Owner: Copyright 2009 Please consult the authors.
    Deposited On: 30 Nov 2009 09:36
    Last Modified: 27 Mar 2013 12:05

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