KUALA LUMPUR: The massive 4,500-acre (1,800ha) Gerbang Nusajaya being developed by UEM Land Holdings Bhd will see more upcoming projects after two launches late last year.
CEO and managing director Datuk Wan Abdullah Wan Ibrahim said the company is in discussions with Chinamall Holdings Pte Ltd to explore the possibility of establishing a trade and exhibition mall that will house and market goods from China in Gerbang Nusajaya.
“We are also exploring other possible collaborations we believe can help accelerate the development and enhance the value of several other development precincts within Gerbang Nusajaya,” he said in the company’s 2012 annual report.
Last October, UEM Land inked a joint venture agreement with Singapore’s Ascendas Group to develop a 519-acre integrated eco-friendly tech park with an estimated gross development value (GDV) of RM3.7 billion.
The fully landscaped park will focus on delivering a built environment for a wide range of industries such as electronics, pharmaceuticals and medical devices, food processing, precision engineering, fast moving consumer goods, logistics and warehousing.
The development is expected to take place in three phases over nine years with the properties to be sold and potentially leased for recurring income. When fully completed, it is expected to host a business community of over 34,000 people.
Gerbang Nusajaya’s second project was launched last December when UEM Land signed another joint venture agreement with FASTrack Autosports Pte Ltd for the development of a Motorsports City over 295 acres with an estimated GDV of RM3.5 billion.
This development is envisaged to be the model automotive hub, comprising 4S (sales, services, spare parts and systems) centres, car showrooms, continental and Asian spare parts hub, bonded warehouses, retail and al fresco spaces with food and beverage outlets, and an entertainment hub. It will also feature a 4.5km track and 1.5km karting track designed by the world renowned track designer Hermann Tilke.
Gerbang Nusajaya will be developed in five phases over 25 years. Its components will include lifestyle and retail parks, campus offices and industrial parks, and residential precincts.
Wan Abdullah said Nusajaya achieved its tipping point in 2012, with Kota Iskandar being the new administrative centre for Johor since April 2009.
For the 2012 financial year ended Dec 31, UEM Land posted a 49% rise in net profit to RM448.4 million on a 14% jump in revenue to RM1.94 billion.
This article first appeared in The Edge Financial Daily, on May 10, 2013.
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