KUALA LUMPUR: An United Malayan Land Bhd (UMLand) unit will be developing Japanese Holiday Homes in its flagship-integrated township of Bandar Seri Alam, located within the Eastern Corridor of Iskandar Malaysia in Johor.
Its wholly-owned subsidiary Seri Alam Properties Sdn Bhd (SAP) has signed a memorandum of understanding (MOU) on Tuesday, May 24 with Global Asia Assets (M) Sdn Bhd (GAAM) for the development of the Japanese Holiday Homes
The Japanese Holiday Homes will be located on over 20 acres of land comprising 110 units of bungalows and a clubhouse. Each bungalow will have a built-up area of approximately 2,200 sq ft and land area measuring approximately 4,500 sq ft.
The development will complement and increase the Japanese community in Bandar Seri Alam, which already has loyal patronage from the Japanese international school within the township.
The MoU was signed by SAP's general manager Frankie Tan Kiat How and GAAM's CEO Fujimura Masanori, and witnessed by the senior exco for housing, local government, works and public amenities Datuk Haji Ahmad Zahri Jamil and UMLand's group CEO Pee Tong Lim.
GAAM is a subsidiary of Global Asset Asia Investment Ltd, a Hong Kong-based company with vast experience in investments, financial advisory services and real estate investment. It has a large network of high net worth individuals who are interested in purchasing properties in Malaysia.
The signing ceremony was conducted at the opening ceremony of the 3-day The Wealth of Iskandar Malaysia Conference held in the PERSADA Johor International Convention Centre. The conference is jointly organised by the Institution of Surveyors Malaysia (Johor Branch), the Iskandar Regional Development Authority, The State Economic Planning Unit of Johor and co-organised by University Teknologi Malaysia Johor and the Royal Institution of Chartered Surveyors, and is to set the stage for the business community to witness the tipping point of Iskandar Malaysia's development project.
Fujimura said that GAAM has always been interested to invest in high potential developments and businesses, and sees Bandar Seri Alam as having excellent infrastructure to accommodate its interest in creating a Japanese Community in Iskandar Malaysia.
"Equipped with all the amenities, a secured environment, an existing Japanese School and being the 'City of Knowledge' in the Eastern Corridor of Iskandar Malaysia, we foresee great potential in this development which can attract our clients to form a Japanese Community here," he said.
He added that with all the incentives and government investment in Iskandar Malaysia, Johor Bahru is set to become one of the "great cities of the world".
Meanwhile, Tan said that SAP strongly believes that the collaboration with GAAM will develop Bandar Seri Alam into a vibrant international community within Iskandar Malaysia.
"With the continuous efforts by the state government in improving infrastructure and developing Iskandar Malaysia, we view this project as a platform to attract and encourage more foreigners to live in our country. We also believe, with this strategic initiative, more employment and business opportunities will be created in the future, in tandem with what has been highlighted in the 10th Malaysia Plan," Tan added.
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