Big FDI in Johor’s RM8bil property venture

Project briefing: Lim (left) and Hasni (second from right) looking at the development project during the MoU signing in Johor Baru yesterday.

JOHOR BARU: Johor received its largest foreign investment in Iskandar Malaysia after the Covid-19 outbreak when Iskandar Waterfront Holdings (IWH) inked a deal with Metallurgical Corp of China Ltd (MCC) to develop 60ha of prime commercial land in Skudai here.

IWH’s subsidiary Danga Heights Development (DHD) and MCC Singapore, a subsidiary of the Chinese company, have formed a joint venture to develop the area over the next 10 years. It is expected to yield a gross development value (GDV) of RM8bil.