S'pore billionaire, Johor royal family to jointly build S$2b complex

Singaporean billionaire investor Peter Lim has signed a joint venture (JV) agreement with a Malaysian royal family to build a S$2 billion mega complex on a prime waterfront land plot in Johor Baru, Malaysia.

The JV will pave the way for the development of the 10 ha site that will comprise a medical centre with a 200-bed hospital and a marina city featuring hotels, residential units and entertainment outlets.

The developers are looking at designs and concepts and obtaining work permits. The first phase of construction is expected to commence at the end of 2012, while the hospital will likely be operational by early 2015.

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