JOHOR BAHRU (Sept 7): Danga Heights Development (DHD), a subsidiary of Iskandar Waterfront (IWH), will joint hands with MCC Singapore, a subsidiary of Metallurgical Corporation of China, to develop a 148-acre prime commercial land in Skudai, Johor.
It is believed to be one of the biggest foreign direct investments in Iskandar Malaysia since the Covid-19 outbreak. The 10-year project has an estimated gross development value (GDV) of RM8 billion.
In a media statement today, IWH said the first phase of the development will be a 38-acre mixed-use development, which carries a GDV of RM2.88 billion GDV. The construction work will commence in early 2021.
Johor Menteri Besar Datuk Hasni Mohammad and MCC Central Research Institute of Building and Construction general manager and MCC Singapore chairman Zhu Jianguo have witnessed the cross border virtual land-sale signing ceremony today between IWH director Datuk Noorazam Osman and MCC Singapore CEO Tan Zhiyong. Also present were IWH executive vice-chairman Tan Sri Lim Kang Hoo and group executive director Lim Chen Herng.
“We envisioned the project to become the new uptown area of Johor. It will be a smart city characterized by intelligent features and cutting-edge home concepts, and we hope this project can catalyze Johor’s urban transformation into an even more thriving and technologically advanced city in the next decade,” said Tan.
MCC Singapore is upbeat of this mega development for its future growth potential, leveraging on its strategic location.
Tan added that the site is located in one of the most sought-after spots in Johor mainly due to its proximity to a captive population of affluent households and high density of businesses.
“This will be a landmark development with far-reaching social and economic benefits for the people and state of Johor. It will likely inject a new momentum and excitement into Johor’s property landscape,” said Chen Herng.
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