Complete Property Market Updates of Singapore

June 19, 2008

Mega project slated for Johor

Filed under: Commercial,General,Malaysia — Propertymarketupdates @ 4:25 am

A multi-billion ringgit mixed-development project will be launched in Iskandar Malaysia this year, says a report in The StarBiz.

The project, to be called Airport City or Aeropolis, comes under an associate company of Senai Airport Terminal Services, which is linked to billionaire Syed Mokhtar Al-Bukhary.

The project, on 1,133.11 ha near Senai Airport, will comprise three main components – residential-commercial-hospitality amenities, an air cargo logistic centre and a high-tech park.

The first component will cover 323.74 ha while the other two will occupy 404.68 ha each.

‘The investment in infrastructure – power, water, roads and telecommunications – is estimated at about RM1 billion (S$422 million),’ a source told StarBiz.

The source said that utility providers must be committed in providing uninterrupted supply and services to users in the development area.

The area will be equipped with high-speed broadband for residents and companies to communicate with clients or business associates from all over the globe.

Other facilities will include private medical centres, international schools, hotels and retail malls.

It will be vital to have world-class and uninterrupted utilities and services as the development wants to attract investors from Europe, Japan, Taiwan and the US.

The source said that the company was engaging a consultant from Australia to undertake the master plan study.

The consultant is looking at several well-known high-tech parks in Australia and Taiwan in its study.

‘The high-tech park will be better than the Kulim Hi-Tech Park,’ the source said, adding that unlike the Kedah park, Senai would only engage in research and development activities.

When the master plan study is completed, probably next month, it will be presented to the Johor government and a ground-breaking ceremony should take place towards year-end.

Source : Business Times – 23 May 2008

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