SINGAPORE: Global Capital & Development (GCD), the lead investor of Medini in Iskandar Malaysia's Nusajaya development zone, says the region has attracted some S$2 billion in investments from Singapore since 2006.
GCD says investment from Singapore in Iskandar Malaysia is set to soar; Singapore is already the single largest foreign investor in the region.
Link (THM) Holdings, a Singapore developer, is the latest firm to invest in Iskandar Malaysia; it announced on Wednesday that it purchased a 5.9-hectare land site from GCD.
Link said that it will build mixed properties on the site, which is worth S$1 billion in gross development value. The project is expected to be completed in three phases over a period of five years.
In a statement issued on Thursday, Mr Keith Martin, who is Chief Executive Officer of GCD, said: "Link (THM) Holdings' development of Media Village @ Medini Iskandar is a catalyst for further business, lifestyle and living activity in Medini. Together with cornerstone investors and existing developments, GCD foresees a significant value increase in the prices of commercial and residential properties in the area."
Mr Martin added that GCD will continue to partner with quality investors to transform Medini into a destination city of global significance.
The company's next focus will be to further engage business park operators on opportunities to fund a SME business park for a wide range of business sectors and services.
Mr Martin said there is clear demand, particularly from Singapore companies, to seek affordable support space in Medini.
- CNA/jc
S'pore the single largest foreign investor in Iskandar Malaysia
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S'pore the single largest foreign investor in Iskandar Malaysia
