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Saturday December 8, 2012

Investors no longer skeptical about Iskandar, says CEO

NUSAJAYA: Investors are no longer reluctant to invest in the Iskandar Malaysia economic corridor, says UEM Land Bhd managing director Datuk Wan Abdullah Wan Ibrahim.

“Initially, investors were skeptical towards development in Iskandar Malaysia and they preferred to wait and see.

“With the emergence of the catalytic development such as Legoland Malaysia and Educity, investors start coming in after seeing developments in the first six years, the first phase of Nusajaya,” Wan Abdullah, who is also UEM Land's chief executive officer, told a briefing during a media familiarisation tour of Nusajaya.

Wan Abdullah said there were five categories of investors who had invested in property development in Nusajaya.

He said the first category were Malaysians working in Singapore who were investing for their convenience of transiting in and out of Malaysia.

“The second are Singaporeans who buy properties as soon as they recognised the world-class developments in Nusajaya,” he said.

Wan Abdullah said the third category was Singaporeans who wanted to invest in weekend homes as a means of escapism during weekends and festive seasons.

“Expatriates, who are very keen on the array of properties offered in Iskandar Malaysia, are the fourth category.

“Finally, out of the region's buyers, who are mainly Indonesians, who want to be close to Singapore, perceived as the financial hub,” he added. - Bernama

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