By Cheryl Tay:
Global Skyline Sdn Bhd, a unit of Tang Group, will embark on a mixed-used development called iMedini Walk (pictured) in Iskandar Malaysia.
The developer has signed a 99-year lease agreement with Medini Land Sdn Bhd, a wholly-owned subsidiary of Iskandar Investment Berhad for three plots covering 3.2-ha and offering about 1.38 million sq ft of gross floor area (GFA), reported The Business Times.
The integrated project will comprise a hotel, shophouses, residential and serviced apartment towers, with about RM750 million (S$300 million) in gross development value (GDV).
It will be situated along a spine road leading to the new Mall of Medini as well as Legoland Malaysia and will comprise over 150 three-storey strata shophouses with an average size of 3,300 sq ft.
The residences, hotel and serviced apartments will be housed in towers spanning the retail belt. The towers north of the site will house 250 hotel rooms and serviced apartments overlooking Legoland, while those to the south will accomodate the housing units and offer views of Puteri Harbour.
“We recognise the potential of Iskandar Malaysia, with immense opportunities to create and offer innovative and modern business and lifestyle solutions to not just Malaysians but global citizens,” said Dennis Chiu, Director at Tang Group, adding that the company will continue to venture into Malaysia, especially in Southern Johor.
Syed Mohamed Syed Ibrahim, President and CEO of Iskandar Investment Berhad, said it wants to create a modern metropolis within Iskandar and Nusajaya as part of their continued aspiration towards development, as well as an assurance to their Singaporean partners and investors.
Cheryl Tay, Editor of CommericalGuru, wrote this story. To contact her about this or other stories, email cheryltay@propertyguru.com.sg
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