Malaysia, Johor: A seafront of opportunity
The Star 21 Feb 12;
Stretching 25km to the east and west of the Johor Causeway, the IIWC integrated master plan will see a complete makeover of Johor Baru and seafront sites facing Singapore.
JOHOR BARU: A special website and telephone line will be set up for potential investors in Iskandar Waterfront Holdings Sdn Bhd (IWH).
IWH director Datuk Lim Kang Hoo said the groundwork had been done, especially along the Danga Bay area, adding that this will be the best time for people to invest in the area.
“We are opening up to Malaysian and foreign investors,” he told a press conference at the Danga Bay office here yesterday.
Lim said that those looking for investment opportunities could visit their office in Danga Bay, but said a website and special phone line would also be set up to entertain potential investors.
“We have done the main groundwork, including spending millions on land reclamation work.
“There are plenty of opportunities and these include the setting-up of hotels, service apartments or condominiums along the area,” he said.
Another IWH director Johar Salim Yahaya said Johoreans could benefit from the project and hoped that more people would come forward soon.
Last week, Prime Minister Datuk Seri Najib Tun Razak announced a RM200mil facilitation fund to kick-start the Iskandar Integrated Waterfront City (IIWC) project in Danga Bay.
The allocation will help transform Danga Bay into a premier waterfront destination with features such as a cruise ship terminal, marina, fisherman’s wharf and tower blocks to house commercial offices, hotels, exhibition and convention centres, and residential properties.
Stretching 25km to the east and west of the Johor Causeway, the IIWC integrated master plan will see a complete makeover of Johor Baru and seafront sites facing Singapore.
The development, to be launched in phases over 25 years with a gross development value of RM80bil, will be a public-private partnership involving the Government and IWH.
IWH is a special purpose vehicle created as the master developer and planner of a 1,200ha site within Iskandar Malaysia.
To date, IWH has attracted local investor Dijaya Corporation Bhd, which is investing RM3.8bil in a high-end mixed development project spread over 15ha.
