KUALA LUMPUR: IJM Land Bhd and Network Rail will work together to explore development potential on land close to the railway and through oversite developments in the latter's portfolio in the United Kingdom.
The real estate developer said its 51 per cent-owned subsidiary, RMS (England) 2 Ltd (RMS 2), is looking at locations near Network Rail in Central London and the southeast that may be turned into mixed-use developments, homes, businesses or logistical facilities.
Network Rail owns, operates, and develops Britain's railway infrastructure in England, Scotland and Wales.
According to IJM Land chief executive officer Datuk Wong Tuck Wai, these projects will significantly contribute to new employment opportunities and the vitality of London's service sector in addition to completing these brownfield developments.
He said the collaboration between Network Rail and RMS 2 was made possible by the successful completion of IJM Land's Royal Mint Gardens project, which opened the door for the replication of comparable building techniques in other sites.
A thorough approval procedure with the local authorities and meticulous coordination with Network Rail were both necessary for Royal Mint Gardens.
"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," he said in a statement.
Robin Dobson, group property director of Network Rail said: "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."
He added that this demonstrates the opportunity that rail infrastructure can play as a catalyst for sustainable development.