Work to start on Ascendas and UEM Sunrise project

NUSAJAYA: Earthworks for the first phase of the 519-acre (210ha) Nusajaya Tech Park in Iskandar Malaysia, Johor, will start in a couple of weeks. Nusajaya Tech Park is a 60:40 joint venture by Singapore-based Ascendas Pte Ltd and UEM Sunrise Bhd.

“We will be developing the 519-acre Nusajaya Tech Park in phases. A 71-acre start-up phase, comprising ready-built factories and land plots for build-to-suit developments will be completed by 2016. I am glad to announce that our first release of ready-built factories is already 40% pre-committed prior to this groundbreaking,” said Ascendas president and group chief executive officer Manohar Khiatani at the groundbreaking ceremony in Nusajaya yesterday.

The ceremony was witnessed by International Trade and Industry Minister Datuk Seri Mustapa Mohamed and Singapore’s Trade and Industry Minister Lim Hng Kiang.

Nusajaya Tech Park has a gross development value (GDV) of RM3.7 billion. It will house companies in electronics, precision engineering, pharmaceutical, medical devices, food processing and fast-moving consumer goods among other industries. It is the first tech park by Ascendas in Malaysia and is expected to support 200 enterprises when it’s fully completed.

The 71-acre first phase comprises land plots for build-to-sell developments and 43 units of ready-built facilities. It is expected to be completed by 2016. Of the 43 ready-built facilities, 40% has been marked for take-up. Interested parties include Sanwa group of companies, leading logistics and supply chain solutions partner YCH Group Pte Ltd and Malaysia’s leading integrated information communications technology (ICT) and business process outsourcing (BPO) services provider VADS Bhd, a wholly-owned subsidiary of Telekom Malaysia Bhd.

Sanwa is exploring taking up a 72,000 sq ft facility for its precision engineering and manufacturing operations. The ready-built facilities will be priced around RM380 per sq ft.

Future phases of the project include the integration of commercial spaces, dormitories, amenities and support facilities that cater to the park community.

“The end result is a Nusajaya Tech Park that features a well-conceived master plan that has set a new benchmark in design, achieving the Merit Award in the Master Planning Category at the Singapore Landscape Architecture Awards 2013. This is also the first tech park in Malaysia to be conferred the Singapore Building and Construction Authority’s Green Mark for Districts — Gold (Provisional) Award,” said Manohar.

Aside from the ecologically-advanced design, the project will be developed with a comprehensive security master plan and has been marketed in countries such as Singapore, Japan, Germany and the US.

“Nusajaya Tech Park embodies the collective experience and expertise of two real estate powerhouses and features a cluster of like-minded companies within a single location. This enables businesses to tap into the industry ecosystem, helping to create a sustainable business environment,” said UEM Sunrise chairman Tan Sri Dr Ahmad Tajuddin Ali.

Ascendas is Asia’s leading provider of business space solutions and specialises in master planning, developing, managing and marketing IT parks, industrial and logistic parks, business parks, science parks, hi-spec facilities, and office and retail spaces.

The Edge Financial Daily reported yesterday that according to sources, UEM Sunrise will partner Australia’s Lend Lease Corp, Hong Kong-based property developer Sino Group and its Singapore affiliate Far East Organisation, and United Malayan Land Bhd (UM Land) in several commercial ventures in Kuala Lumpur and Johor.

The ventures include Lend Lease operating its Mall of Medini project in Iskandar, the opening of Fullerton Hotel in Puteri Habour, and the joint development of retirement condominiums with UM Land. Sino Group and Far East operate the luxury class The Fullerton Bay Hotel and the Fullerton Hotel in Singapore.

This article first appeared in The Edge Financial Daily, on June 13, 2014.

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