Iskandar Malaysia signs $1.5b property development deals
Iskandar Investment Bhd (IIB), the promotion agency for Malaysia’s huge Iskandar development project at the southern border to Singapore, has inked two property deals worth a combined $1.5 billion with private companies, the firm announced at a media briefing on July 8 in Kuala Lumpur.
The larger of the two projects at an investment of $1.3 billion involves a joint venture between IIB and Mammoth Empire Holdings Sdn Bhd. Medini Empire, a mixed development comprising office towers, hotels, service apartments, loft offices, retail space, a convention centre, a concert hall and a cinema, set for completion in 2018.
IIB, a subsidiary of Malaysia’s state investment firm Khazanah Nasional and the Johor state government, owns 40 per cent of Medini Empire and Mammoth Empire the remaining 60 per cent.
The second project, dubbed Zikay@Medini, would be undertaken by Zikay Group Sdn Bhd and designed by Veritas Architects. The mixed development, with $200 million in value, consists of small office home office, boutique retail, a 30-level Grade A office tower and service apartments. Zikay is a bumiputera company that invests in Iskandar Malaysia.
Iskandar Investment Bhd (IIB), the promotion agency for Malaysia's huge Iskandar development project at the southern border to Singapore, has inked two property deals worth a combined $1.5 billion with private companies, the firm announced at a media briefing on July 8 in Kuala Lumpur. The larger of the two projects at an investment of $1.3 billion involves a joint venture between IIB and Mammoth Empire Holdings Sdn Bhd. Medini Empire, a mixed development comprising office towers, hotels, service apartments, loft offices, retail space, a convention centre, a concert hall and a cinema, set for completion in 2018. IIB, a...
Iskandar Investment Bhd (IIB), the promotion agency for Malaysia’s huge Iskandar development project at the southern border to Singapore, has inked two property deals worth a combined $1.5 billion with private companies, the firm announced at a media briefing on July 8 in Kuala Lumpur.
The larger of the two projects at an investment of $1.3 billion involves a joint venture between IIB and Mammoth Empire Holdings Sdn Bhd. Medini Empire, a mixed development comprising office towers, hotels, service apartments, loft offices, retail space, a convention centre, a concert hall and a cinema, set for completion in 2018.
IIB, a subsidiary of Malaysia’s state investment firm Khazanah Nasional and the Johor state government, owns 40 per cent of Medini Empire and Mammoth Empire the remaining 60 per cent.
The second project, dubbed Zikay@Medini, would be undertaken by Zikay Group Sdn Bhd and designed by Veritas Architects. The mixed development, with $200 million in value, consists of small office home office, boutique retail, a 30-level Grade A office tower and service apartments. Zikay is a bumiputera company that invests in Iskandar Malaysia.
