Iskandar Malaysia bags RM10.67b new investments

Iskandar Malaysia clinched RM10.67 billion of new committed investments in the first half of 2012, according to a report by Bernama.

Datuk Ismail Ibrahim, Chief Executive Officer of Iskandar Regional Development Authority (IRDA), said that the region's total cumulative committed investments from 2006 to June 2012 reached RM95.45 billion.

"Forty-three percent of the committed investments were already realised," he noted, adding that "domestic investments constitute 62 percent (RM58.95 billion) of the total investments of RM95.45 billion, while the remaining 38 percent (RM36.50 billion) is from overseas."

"Key investments to date are represented by Asia (42 percent), Europe (40 percent) and the Middle East (14 percent)."

Since 2006, Iskandar Malaysia's property sector recorded cumulative committed investments of RM29.80 billion, while the manufacturing industry posted RM32.71 billion.

Investments for other sectors were healthcare (RM1.60 billion), education (RM1.55 billion), tourism (RM2.03 billion), ports and logistics (RM3.74 billion), petrochemicals (RM5.10 billion), government (RM7.31 billion) and utilities (RM9.52 billion).

IRDA is also focusing on six service sectors namely, creative content, tourism, education, healthcare, logistics and financial, due to the region's high economic multiplier effect.

"We are also exploring Green Technologies, Green Economy and Low Carbon Society (LCS) which are the future trends. IRDA is soon to launch its LCS Blueprint which is expected to be the trendsetter among ASEAN countries," he said.

Meanwhile, Asia's first Legoland theme park is slated to open in September while the opening of University of Southampton Malaysia and Marlborough College Malaysia are expected in October and August, respectively.

Raffles to open American-curriculum school in Johor

Singapore's Raffles Education Corporation will open an American-curriculum school in Johor this August, according to a report by AsiaOne.Known as Raffles American School (RAS), the international institution will be located at EduCity@Iskandar and will provide an American pre-K12 curriculum programme, with Advanced Placement Offerings in high school.RAS will open in two phases and is presently accepting enrollees for grades one to eight. Phase one is set to be completed in 2014 to 2015. The school will feature amenities such a dramatically terraced library, a media centre with digital media lab and reading spaces for students to study. It also includes a fully equipped performing arts centre with two venues for student productions.It will also have courtyards that will serves as teaching space and an area for fruit and vegetable cultivation. The school's greenhouse will also enable students to learn about agriculture, food studies and environmental sciences.Moreover, the schools indoor athletic complex comes with gymnasiums, wrestling halls, a dance studio, free activity rooms, as well as training and weights room. Other sports facilities include a soccer field, a soccer stadium with a 400-metre track, a baseball field, three tennis courts and two swimming pools. RAS aims to prepare students for top universities in the US, with the collaboration of International Schools Services.

Iskandar Investment, Zhuoda Real Estate sign Iskandar landmark agreement

Iskandar Investment Bhd (IIB) and Beijing-based Zhuoda Real Estate Group (Zhuoda) have inked two Memorandums of Understanding (MOUs) to develop mixed residential and commercial projects in Medini, Iskandar Malaysia.

This marks the first joint venture (JV) between Medini Iskandar Malaysia Sdn Bhd, a wholly-owned subsidiary of IIB, and Zhuoda Real Estate to develop a project in Medini North, which is known as Iskandar Malaysia's leisure and tourism destination.

"Today's signing is another significant milestone for us as it is the first major investment by a Chinese property development company into Iskandar Malaysia and IIB is delighted to be the partner of choice for Zhuoda Real Estate Group as they expand their presence beyond China," said Datuk Syed Mohamed Syed Ibrahim, President and Chief Executive of IIB.

IIB said the definitive agreements are scheduled to be signed at the 3rd World Chinese Economic Forum in Kuala Lumpur, Malaysia on 3 November 2011.

To be 80 percent owned by Zhuoda, the JV company will oversee the development of the residential project situated on a 73,000 sq m site. The project is expected to attract over 23 million residents and tourists annually.

Meanwhile, the second MoU will see MoU Zhuoda's purchase of lease for the 40,000 sq m site in Medini. Total Sales Value (TSV) of the land deal is around RM70.8 million with total investment estimated at approximately RM520 million.

"Zhuoda is delighted to be the partner for IIB and the first investor from China into Medini, Iskandar Malaysia. The signing today is another monumental occasion for the strengthening of strong bilateral ties between China and Malaysia enterprises while contributing to ASEAN's continued economic growth," said Yang Han Qing, Chief Operating Officer of Zhuoda.

Medini to get RM2.6 billion condo project

Medini Iskandar Malaysia Sdn Bhd, a subsidiary of Iskandar Investment Bhd, collaborated with China's Zhuoda Real Estate Group to develop 2,600 units of luxury condominiums in Medini, Johor, according to a report by Business Times Malaysia.

To be constructed in two phases, the condominiums have a gross development value of about RM2.6 billion and are set to be completed in five years.

Considered as Zhuoda's first overseas venture, the project will be carried out by a joint-venture (JV) company known as Zhouyuan Iskandar Sdn Bhd, in which Medini Iskandar holds a 20 percent stake.

Wang Bin Wu, Chief Executive Officer of Zhouyuan Iskandar, revealed that the project is tentatively dubbed as Medini International, with construction costs ranging from RM600 million to RM700 million. He added that the group decided to invest in the area because of Medini-specific incentives such as tax exemption and the absence of sales restriction to foreigners.

Phase One, which will feature the most affordable units, will target Malaysians, Singaporeans, Chinese, Japanese and Koreans.

Moreover, Datuk Syed Mohamed Syed Ibrahim, CEO of IIB, is confident that the project will receive a good take-up rate considering the warm reception of recent property launches in Iskandar Malaysia and as more infrastructure projects are completed under the 9th Malaysian Plan.

"There is, in fact, now upside potential for new quality offerings in the market with the completion of the infrastructure projects," he said.

Medini is expected to become the central business district of Nusajaya, given its strategic location in the Nusajaya development zone.

Johor to see 40 new hotels unveiled

A total of 40 new three- to five-star hotels are scheduled for opening in Johor, with about half of the said number likely to be built in the next five years, according to The Business Times.

Responding to concerns over a potential oversupply, Tengku Ahmad Faizal, Chairman atthe Malaysian Association of Hotels (MAH) Johor Chapter believed that a perfect balance could be attained if the openings are in phases.

"Should all the hotels open according to schedule, with the opening of Legoland, followed by Hello Kitty Town, Little Big Club and LAT theme parks, room supply should be just nice," he added.

Johor's transformation into the amusement and theme park capital of Malaysia calls for extra stream of hotel rooms. Datuk Abdul Ghani Othman, Johor's Menteri Besar,noted that Johor will further build 3,000 new rooms by 2014 alone.

Apart from the three- to five-star hotel types,"what we need is all categories of accommodation. We need lower-category rooms, below the three-star category to cater to the middle- and lower middle-income groups," he added.

"With 40 hotel openings, and possibly more, everyone has to play their part in order to create awareness about Johor and to get the tourists to the state."

However, with Johor being a destination difficult to reach, more direct flights to the Senai InternationalAirport are also needed.

With the opening of international brands like Traders Hotel, Sheraton and Aman, Tengku Ahmad, Johor expects to solidify its mark in the international scene.

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