Its chief executive officer, Abdul Mutalib Alias, said the TOD development would have an estimated gross development value of over RM1 billion.
To date, PR1MA said it has been granted land at eight locations along the LRT network to be developed using the TOD model.
The first phase is scheduled to start in the fourth quarter of this year.
This will involve two locations along the Light Rail Transit (LRT) line network, in Cempaka and Pandan Jaya. This will be followed by Pandan Indah, PR1MA said in a statement here today.
The other six locations are Pandan Indah, Titiwangsa, Sentul, New Town PJ, Jelatek, Kinrara and Bandar Puteri.
Speaking at a closing ceremony of the “Ekspo Jualan Perumahan 3 — Ke Arah Sejuta Impian, Alami Gaya Hidup Sejahtera” national edition, he said PR1MA delivered more than just brick and mortar.
PR1MA aims to develop integrated, vibrant and active communities that provide wealth-creation and socio-economic development opportunities for the people, while promoting social cohesion and harmony, he added.
The closing ceremony was officiated by Finance Minister II Johari Abdul Ghani.
The expo, held from March 24 till April 1 at the Putra World Trade Centre, involved multiple federal and state housing agencies.
It was organised to create awareness and encourage home ownership among the people from both the M40 (mid-income group, comprising households earning between RM3,860 and RM8,319 ) and lower-income (B40) groups.
TOD is an integrated residential concept located close to the workplace, schools, healthcare, commercial centres and integrated public transport networks, such as the LRT and Mass Rapid Transit (MRT).
This will directly increase the mobility and productivity of the community.
PR1MA said TOD was an increasingly popular residential and commercial property development model, particularly in major cities in the world, such as Hong Kong, Tokyo, Singapore and Washington.
This was to maximise land use in urban or suburban areas as well as encourage use of public transport.
TOD development is usually targeted at the higher-income group due to the strategic locations.
However, the new approach by PR1MA will help ensure that the M40 group also benefits from the shorter commute, lower personal transportation costs and easy access to daily needs. This will inevitably help to reduce the cost of living.