IGB raising RM1bil to part finance one of Johor's biggest malls

A JV development between IGB Corp and Southkey City Sdn Bhd to build one of Johor's mixed integrated project Southkey which comprises a retail mail, three hotels, serviced apartment blocks and four office blocks. The 32.5-acre joint venture development, to be undertaken by JV company Southkey Megamall Sdn Bhd, will be a blend of Mid Valley Megamall and The Gardens. (Inset: New mall: Tan and Southkey City MD Datuk Mohamed Zaini Amran sharing a light moment after the signing ceremony between IGB and Southkey City to set up a funding programme for the project)

KUALA LUMPUR: IGB Corp Bhd is raising RM1bil to part finance one of Johor’s biggest retail malls in a move to replicate its Mid Valley Megamall success.

IGB Corp Bhd group managing director Datuk Seri Robert Tan said: “We cannot promise that it will be as successful as the Mid Valley Megamall.... it may be 70% as successful.”