Land and development on man-made Danga Bay island to cost RM8bil

PETALING JAYA: Singapore's Temasek Holdings Pte Ltd and its unit CapitaLand Malaysia Pte Ltd will enter into an agreement with Iskandar Waterfront Holdings Bhd (IWH) today to buy a man-made island measuring about 28.33ha at Danga Bay for about RM800mil.

Those in the know said that IWH unit Iskandar Waterfront Sdn Bhd (IWSB) would also be party to the acquisition, and the three parties would jointly develop the 28.33ha into a mixed integrated development, comprising high-rise buildings and landed homes complete with a shopping mall and food and beverage outlets, to be completed over the next few years.