Daiman to gain from JB city centre project

Main focus: Tay (left) and Heng at the AGM. Heng says Daiman will continue to focus on landed properties for its existing projects in Johor.

JOHOR BARU: Daiman Development Bhd expects the ongoing multi-billion-ringgit Johor Baru city centre project to bring benefits to businesses in downtown area.

Business development managing director Tay Hui Fong said the project would transform the city centre into a vibrant place in the next five to seven years, making it more attractive to businesses and visitors.

He said the recently launched mixed development, known as Ibrahim International Business District, would boost the company’s DoubleTree by Hilton Hotel project.

“We look forward to a new city centre when the transformation project is completed,’’ Tay told StarBiz after the company’s AGM.

He said the upgrading of infrastructures within the city centre including roads, drainage system and public areas would elevate Johor Baru as a world-class city.

Meanwhile, property development general manager Heng Song Teck said the company would continue to focus on landed properties for its existing projects in Johor.

Its township projects are the 450ha Taman Gaya in the Tebrau Corridor and Taman Daiman Jaya in Kota Tinggi spanning over 1,214ha. These projects will keep the company busy for the next 15 to 20 years.

“We have no immediate plan to venture into high-rise residential properties as demand for our landed properties is still good,” he said.

Heng believes given a choice, consumers still prefer landed residential properties to high-rise apartments or condominiums.

He said the company did not see the need to jump onto the high-rise residential property bandwagon although many developers in Iskandar Malaysia were doing so.

Separately, Heng said Daiman was in the planning stage to develop its Daiman BizHub @ Sedenak.

“We see good demand for industrial buildings in south Johor as many companies in Singapore are looking to relocate their operations to Iskandar Malaysia,’’ he said.

Heng said the company planned to launch the gated and guarded industrial park covering 134.05ha next year.