Several major projects in Iskandar to start next year
Iskandar's principal developer UEM Sunrise is set to work at a breakneck pace in Johor next year due to the start of several catalytic projects in Nusajaya, including the groundbreaking ceremony of Motorsports City in Gerbang Nusajaya.
With a gross development value (GDV) of RM40 billion (S$15 billion), the 1,800ha Gerbang Nusajaya comprises industrial parks, campus offices, residential precincts, as well as lifestyle and retail parks, which will be built over five phases spanning 25 years.
In particular, its RM3.5 billion (S$1.32 billion)Motorsports City measuring 118 hectares will come with a 4.5km race track capable of hosting International races. It will also have a model automotive hub, consisting of car showrooms, retail units, F&B outlets, al fresco spaces and bonded warehouses, plus centres dedicated to the sales, services, spare parts and systems of various cars.
Another project that will break ground in 2015 is Nusajayas 207.6ha integrated eco-friendly technology park. Valued at RM3.7 billion (S$1.4 billion), this development is a joint-venture with Singapores Ascendas Group.
It is going to be another exciting year for us in Johor. The other exciting development is the Asian Trade Centre (ATC) - China Mall, which is akin to Dragon Mart in Dubai. ATC will be developed over 48ha and we are in the midst of getting approvals from the relevant authorities, according to UEM Sunrise CEO and Managing Director Anwar Syahrin Abdul Ajib.
With a GDV of more than RM600 million (S$225 million), the mall cum trade centre will have an area of 1.4 million sq ft, housing over 3,000 retailers.
We are developing activities and lifestyle and not just building homes at Gerbang Nusajaya. These developments, worth billions of ringgit, will create job opportunities and economic activities which will spur demand for new housing in Nusajaya. At a mature stage, Nusajaya is envisaged to be a self-sustained city and a choice location to live, work and play for both locals and the international community, he said.
So far, about 10,000 properties valued at around RM10 billion (S$3.75 billion)have been built or are under construction in Nusajaya, an area which has an estimated GDV of RM24 billion (S$9 billion), added Anwar.
Farah Wahida, Editor of PropertyGuru Malaysia, wrote this story. To contact her about this or other stories emailfarahwahida@propertyguru.com.my
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