Iskandar Investment showcases retail mall in Singapore

KUALA LUMPUR: Iskandar Investment Bhd is showcasing its one million sq. ft. lifestyle retail mall -- Medini North -- at the International Council of Shopping Centers Asia Expo in Singapore.

At the three-day expo which started on Wednesday, Oct 14, it said the move to showcase the mall was to attract potential partners and retailers.

Iskandar Investment, which is developing Iskandar Malaysia, said the mall development, was expected to attract about US$100 million annual retail spend with a catchment of 23 million residents and tourists around the mall.

The shopping centre would be easily accessible as it would be near the new coastal highway,  when completed in 2012, would link Medini to the city centre of Johor in the east and the second Johor Bahru-Singapore Link to the west. The new mall will also have public transport service, including the planned light rail service.

As a key player in building Iskandar Malaysia, Iskandar Investment is responsible for developing projects which will create further economic and business spin-offs throughout the region.

"Medini North will come alive in 2012, showcasing to the world Iskandar Malaysia's strong and compelling value proposition," said Iskandar Investment president and CEO Arlida Ariff.

This first shopping mall in Medini North will seamlessly connect to the LEGOLAND Malaysia theme park, hotels and commercial developments which will fulfill Iskandar Investment's vision to develop Medini as the definitive lifestyle and leisure zone in Iskandar Malaysia.

The retail mall will include entertainment components, food and beverage options and a variety of specialty retail outlets.

Medini North, the shopping centre will incorporate natural open-air landscapes and water features, making it an ideal venue for not just shopping and dining, but also to relax and enjoy contemporary art exhibitions, live performances and international festivals in an alfresco environment.

To date, Iskandar Malaysia has more than US$13 billion in committed funds from government bodies and international investors. Iskandar Investment expects an additional US$2 billion in investments over the next two years, including the expected US$300 million in retail investments it hopes to announce over the next few months.