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THE STAR Saturday April 12, 2008

Iskandar Malaysia project on track, says PM

JOHOR BARU: The Iskandar Malaysia project here will not be scaled down and the Federal Government is committed to seeing that it succeeds, says Prime Minister Datuk Seri Abdullah Ahmad Badawi.

“It is important that Iskandar Malaysia succeeds and we will continue to back the commitment. I am still the co-chairman of this development,” he said when asked if it would be scaled down to ensure long-term viability.

He said he was pleased with the inflow of investments into the project which was on track to achieve the target of RM47bil within the next two years.

Abdullah speaking during a press conference after being briefed on the progress of Iskandar Malaysia in Johor Baru Friday as Ghani (left) and Iskandar Malaysia CEO Datuk Ikmal Hijaz Hashim (third from left) look on.

“At the moment we have secured 70% with almost RM33bil in investments,” he told reporters after attending a three-hour briefing on Iskandar Malaysia's progress.

Abdullah reiterated Federal and state governments’ support for all ongoing projects in Iskandar and other economic corridors announced before the elections.

He also officially announced that the project, previously known as Iskandar Development Region (IDR), would be named Iskandar Malaysia with immediate effect.

“It is not a new development project but just the same project which has been renamed.

“There is no change in policy, commitment or the authority.”

Abdullah also announced that RM200mil had been allocated to build housing units in Iskandar Malaysia, saying it was one of the most important of Iskandar initiatives.

To be launched in the second half of the 9th Malaysia Plan (9MP), 2,000 units, with a minimum built-up of 850-900 sq ft per unit, would be built in the first phase of the housing development, he said.

On the progress of the project’s RM1.88bil infrastructure development, Abdullah said three projects had been completed while seven others were still under construction. Another six will start in June.

Iskandar Development Region (IDR), Website: www.idr.com.my

NUSAJAYACITY JOHOR -  The single largest privately-owned land bank in South East Asia in IDR Johor.

For Full Info Please Check Out:- www.nusajayacity.com  & www.nusajayaindustrial.com

Nusajaya is a regional city and when completed will be the new administration centre of Johor, Malaysia.The town is currently under construction with some housing phases already completed and launched. It is located west of Johor Bahru,  near the town of Gelang Patah.

The town is built in an area spanning 24,000 acres (97 km˛) combining residential, commercial and industrial elements.

The largest private sector-initiated development in South East Asia, Nusajaya, when completed, will be Asia's foremost fully integrated city with a world-class environment for business, living and leisure.

A key component of the South Johor Economic Region, Nusajaya - 24,000 acres (97 km˛) of contiguous land, is the single largest privately-owned land bank in South East Asia.

Nusajaya holds tremendous promise to become a natural hub through which Malaysian and multinational businesses can effortlessly and efficiently connect with all four corners of the globe. Strategically positioned in Johor, Malaysia's second largest domestic market, Nusajaya offers full connectivity to the world, via comprehensive air, road, rail and sea networks as well as digitally, via its fibre optic telecommunications infrastructure.

With a land area spanning 24,000 acres (97 km˛), it has been meticulously designed to preserve the lush greenery and natural habitat within the area. Its strategic location, sophisticated infrastructure and attractive investment incentives are bound to propel it to become a model city for the 21st century.

Corporations and investors can now play a role in this exciting development by embarking in joint-venture developments or acquiring prime development land parcels in Nusajaya.

To catalyse the development of Nusajaya are the seven signature developments – Johor State New Administrative Centre (JSNAC), Southern Industrial and Logistics Clusters (SiLC), Medical City, EduCity, Puteri Harbour at the Waterfront Precinct, International Destination Resort and Leisure & Lifestyle. Nusajaya’s overall development is planned and designed to be sustainable, environment-sensitive and conducive for business, living and leisure thus enhancing and enriching the quality of life for all who live, work, study and play there.

UEM Land Sdn Bhd, through its subsidiary Bandar Nusajaya Development Sdn Bhd, is the master developer of this largest private sector development in South-East Asia. The Company perceives the IDR Masterplan as the catalyst to expedite the development of its projects that have been planned since 1993.

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CHECK OUT NUSAJAYACITY PROJECTS HERE -   WWW.NUSAJAYACITY.COM

CHECK OUT THIS SITE FOR LOCAL PROPERTY NEWS / PRICES - http://star-space.com 

Monday May 19, 2008 - The Star

RM15Billion from India


PETALING JAYA: An Indian conglomerate is the latest investor to pump money into the Iskandar Malaysia project in Johor.

The company, BSEL Infrastructure Realty Ltd (BSEL), has pledged to invest RM15bil over 12 years in several projects in the region.

BSEL signed a memorandum of understanding with the Iskandar Regional Development Authority (IRDA), whereby IRDA would help BSEL seek approvals from various authorities to facilitate its development process.

BSEL managing director Dharmendra Raichura said in a statement released by IRDA that the investment of RM15bil would be in three phases, each about four years apart. The first phase would be RM2bil, followed by RM4bil and RM9bil.

He also said the anticipated development plan of 70 million square feet (650 hectares) would be completed in three phases with 10 million square feet (93 hectares) in the first year and doubling in every subsequent phase.

“In Iskandar, we have found a new territory to display our development prowess and we promise to deliver quality in our work,” he said.

BSEL is listed in the Mumbai stock exchange and the National Stock Exchange of India with investments in hospitality, hotels, information technology parks and townships in India and the United Arab Emirates.

It also invests in commercial space and retail and shopping mall projects. Its completed landmark projects in India include the BSEL Tech Park Hilton Centre, IIP and Kharghar Phase-I.

Some of its on-going projects are the Rajiv Gandhi IT Habitat, Goa, the Dubai Project in Ajman, six shopping malls in Nagpur and a hotel and commercial project in Pune.

IRDA chief executive officer Datuk Ikmal Hijaz Hashim said the collaboration between IRDA and BSEL was significant as it was the first with an Indian company in Iskandar.

“On our part, IRDA will endeavour to assist and facilitate BSEL in their investments within Iskandar Malaysia and obtain the necessary approvals and incentives from the authorities,” he said.

“And I am personally committed to ensure that investors to Iskandar, such as BSEL, get the full support of IRDA.”

Ikmal had earlier said that since Iskandar Malaysia was launched in late 2006 it had received investments from the Middle East totalling RM4.1bil so far, with Kuwait as one of the serious investors.

He added that Iskandar Malaysia’s target was to get RM47bil in investments by 2010 and it already had RM32.7bil committed and hence had already met 70% of its target.

PROPERTY BUYER PARTNERSHIP PROGRAM - WE CAN SOURCE THE RIGHT PROPERTY WITHIN / BELOW YOUR BUDGET FOR YOU IN MALAYSIA & SINGAPORE, RENOVATE TO YOUR TASTE, ACT AS YOUR PROJECT / PROPERTY MANAGER TILL HAND OVER YOUR DREAM PROPERTY DURING YOUR ABSENCE - Click Here for more information  
 

CHECK OUT THIS SITE FOR LOCAL PROPERTY NEWS / PRICES - http://star-space.com 

Friday June 13, 2008

Damac plans RM3.8bil project

BY MEERA VIJAYAN

JOHOR BARU: Dubai-based Damac Holdings, one of the world's leading luxury waterfront developers, plans to build commercial and residential properties and a private marina with a projected gross development value of about RM3.8bil in Puteri Harbour, Nusajaya.

Spanning 17ha, the project will be undertaken over eight to 10 years by Damac Properties (M) Sdn Bhd, a subsidiary of Damac Properties LLC, the real estate development unit of Damac.

Damac Properties chief executive officer Peter Riddoch said the project was now at the design development stage.

“Once the approvals come through, we hope to start by early next year,” he told a press conference after the signing of an agreement between Damac Properties and Nusajaya master developer UEM Land Bhd yesterday.

From left: Wan Abdulllah Wan Ibrahim, UEM Group MD/CEO Datuk Ahmad Pardas Senin, Johor Mentri Besar Datuk Abdul Ghani Othman, UEM World chairman Tan Sri Ahmad Tajuddin Ali and Peter Riddoch

Under the agreement, Damac will pay RM397mil cash for three parcels of commercial land that form part of the 278.4ha Puteri Harbour development.

Riddoch said Damac chose to invest in Iskandar Malaysia as it felt the region had huge development potential.

“Our test marketing shows that many end users will be very excited to own properties in this region,” he said.

He expressed confidence that Damac's projects in and around Malaysia would add value as iconic developments and attract individual investors from the Middle East and the rest of the world.

UEM Land managing director Wan Abdullah Wan Ibrahim said there was a demand for luxury property in the region and the project also hoped to tap on opportunities from Singapore.

“We are barely 45 minutes from Orchard Road and the properties will be sold at a fraction of the cost in Singapore,” he said, adding that the development would complement and leverage on what was being offered in the island republic.