Iskandar waterfront zones open to investors

JOHOR BARU: The doors are now open for investors keen in waterfront development in Iskandar Malaysia.

Businessmen and groups such as the chambers of commerce and industry are encouraged to participate actively in development at the Danga Bay waterfront, the central business district and the Tebrau basin.

The three zones make up the southern part of Iskandar Malaysia, the up-and-rising growth area in the country.

In a media briefing here yesterday, Iskandar Waterfront Holdings (IWH) Bhd chief executive officer Datuk Lim Kang Hoo said infrastructures, such as trunk roads, are already in place.

He added that the three zones are considered the most strategically located in Iskandar Malaysia.

As such, this is an opportunity for businessmen to invest in prime waterfront land to develop high-value projects such as hotels and condominiums.

"Any parties interested to engage in the development of the three areas are encouraged to do so.

"As the areas are part of the urban planning, do not expect to pay a low land premium. This is because we have invested in land reclamation and dredging which do not come cheap," Lim said.

Kumpulan Prasarana Rakyat Johor (KPRJ) chief executive officer Johar Salim Yahaya, who was present at the briefing, said KPRJ, which owns several parcels of waterfront land in Iskandar Malaysia, is merely consolidating pieces of its interest with IWH.

"As we are moving into a different phase of development, we need to have commercial input through our consolidation with IWH," he said.

"We have created a situation which is conducive for development. We need investors to come in as it will be too costly for us to develop everything on our own.

"As a master developer, we will orchestrate the creation of value and to sustain it," Johar added.

By Business Times