Company has big plans for Medini

Khairil (left) explaining the project to Johor Baru Central Municipal Council president Dr Badrul Hisham Kassim. Laid out before them is the scale model of Medini Iskandar Puteri.

ISKANDAR PUTERI: Medini Iskandar Malaysia Sdn Bhd (MIM) wants to position Medini as the new central business district (CBD) of Iskandar Puteri by attracting domestic and foreign companies to set up their offices here.

Managing director and chief executive officer Datuk Khairil Anwar Ahmad said the company had received enquiries from potential clients from all over the world interested to take up office space here.

He said having to work on a green field to develop the area into the CBD gave the company an added advantage and total freedom to come out with the best development plan for the area.

“The green field is like a canvas for us and we are working closely with other property developers to transform Medini into the Jewel of Iskandar Malaysia,’’ said Khairil in a media briefing.

He said the company would focus on commercial development within the area while the domestic and foreign developers would concentrate on residential projects.

Khairil said the company had so far invested about RM1bil on infrastructure in Medini since its inception in 2008, including improving connectivity and accessibility to the area.

“We have about 809.37ha of land in Medini, of which 75% have been sold for several hundred millions of ringgit and about 30% are being developed in stages by developers,’’ he said.

Khairil said the proposed multi-billion ringgit High Speed Rail (HSR) project connecting Singapore and Kuala Lumpur with the station in Iskandar Puteri would boost development in Medini.

He said the station likely to be located about six to seven kilometres away from the CBD here would definitely push demand for commercial, office and residential properties.

“Another factor which will attract investments into Medini is the special tax holidays and other incentive packages reserved for the area and which have been extended for another 10 years,’’ said Khairil.

Medini caters to property development projects, which enjoy, among others, zero restrictions on foreign ownerships, a RM1mil threshold for foreign property buyers and real property gains tax.

Medini is sub-divided into three development clusters – the financial district, Medini Central, and lifestyle and leisure – with each developed by different developers.

It is part of the 9,712.45ha Nusajaya, now known as Iskandar Puteri, one of the five flagship development zones in Iskandar Malaysia spanning 2,217 sq km located in southern Johor.

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