Ground breaking ceremony for RM2.6b Paradiso Nuova

SINGAPORE: Zhuoyuan Iskandar Sdn Bhd, a joint-venture company between China’s Zhuoda Group and Malaysia’s Iskandar Investment Bhd (IIB), yesterday held a ground breaking ceremony for its flagship development — Paradiso Nuova — in the heart of Medini, Nusajaya, Iskandar Malaysia.

With an estimated gross development value of RM2.6 billion, the project is located in the most exciting property development zone in Iskandar Malaysia.

IIB president and chief executive officer Datuk Syed Mohamed Ibrahim said the most compelling achievement of IIB has been the completion of the catalytic projects, which are critical for the creation of a sustainable ecosystem for a liveable city that is Iskandar Malaysia.

He said this would not have been possible without the excellent infrastructure, key components of the hardware of an urban operating environment and the support of the federal and state governments.

“Today, the value of Iskandar Malaysia’s strategic location due to its proximity to Singapore has been unleashed,” he said at the ceremony which, among others, was attended by Menteri Besar Datuk Seri Mohamed Khaled Nordin.

Syed Mohamed said that as investor interest intensifies, “so does our focus to maintain the momentum for sustainable growth. We feel Paradiso Nuova represents the future of quality living in Medini. More than just a collection of spectacular, high-quality apartments, Paradiso Nuova will offer a way of community living that integrates the best of East and West.”

Designed by world-class architects Ong&Ong, Paradiso Nuova, located about 10 minutes from Singapore’s Second Link, is an affordable yet high-end quality development that presents an exciting opportunity for home buyers looking for a luxury lifestyle living concept that is underscored by strong investment expectations.

“Iskandar Malaysia is a leading international example of diligent planning and foresight on the part of the Malaysian government. Throughout the region, there are exceptional investment opportunities and we are honoured to be able to play an integral role in contributing to Iskandar Malaysia’s growth with the development of Paradiso Nuova,” said Wang Bin Wu, chief executive officer of Zhuoyuan Iskandar.

He added, “We will bring to life a standard of living that represents the best of Singapore, Hong Kong, Taiwan and Kuala Lumpur, but at a significantly lower cost base and backed by attractive investment incentives.”

The 35-storey towers, standing at 122m, will comprise 382 apartment units that are, on average, 20% larger than Singapore properties, making them an oasis of grandeur that offers personalised attention and luxury from the ground up. — Bernama


This article first appeared in The Edge Financial Daily, on January 10, 2014.