JOHOR BARU: Johor Baru's coastline fronting Singapore is in for a major transformation that will have a gross development value (GDV) of some RM80bil and led by a joint venture between the Johor state and businessman Datuk Lim Kang Hoo.
A new vehicle called Iskandar Waterfront Holdings Bhd (IWH) is being created and it would be injected with massive landbank hitherto mainly owned by the Johor state and Lim. As a result of these injections, Lim would have 60% of IWH while the Johor state, through its vehicle Kumpulan Prasarana Rakyat Johor (KPRJ), would hold the remaining 40%.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
