Iskandar Malaysia to reach target

  • Nation
  • Wednesday, 18 Jul 2018

Prominent developer: EcoWorld Development is helmed by CEO Datuk Chang Khim Wah.

PETALING JAYA: Reaching a cumulated investment of RM262bil as at March 2018, Iskandar Malaysia is expected to reach the targeted investment of RM383bil by 2025.

Initially aimed at achieving RM176bil over the 10-year period from 2013-2022, the newly recorded investment has surpassed the target, with another four years still to go.

Iskandar Regional Development Authority chief executive Datuk Ismail Ibrahim said the investment reflects continuous investor confidence in Iskandar Malaysia as it moves towards its long-term development objectives.

“From 2006 till March 2018, the top five countries with highest cumulative committed investments into Iskandar Malaysia are China, Singapore, the United States, Japan, and the European Union,” said Ismail in a press statement in June.

Of this RM262bil, 59% or RM153.54bil represents investments that have been realised.

“Iskandar Malaysia continues to welcome all foreign investments that are aligned to its nine promoted economic sectors and those that provide a spillover effect to the economy, environment and social agendas of the region,” added Ismail.

As one of the supporting sectors in Iskandar Malaysia, residential pro­­­­­­perties have contributed RM48.86bil or 18.64% of cumulated investments to date.

Recognising the various efforts of developers in Johor to multiply the cumulated investment of Iskandar Malaysia, Awards: Jewels of Johor is back again for the second time this year.

The award aims to promote Johor’s most inspiring developments to local and foreign investors and homebuyers. It was graced by Johor Ruler Sultan Ibrahim Ibni Almarhum Sultan Iskandar during its first inception.

Among the prominent developers that won during last year’s awards include EcoWorld Develop­ment with three Excellence awards for its various projects, as well as Gamuda Land Bhd and Country Garden Danga Bay Sdn Bhd.

Ipark Development Sdn Bhd bagged the Best Industrial Park Development, while UMLand shone with its projects UMLand Seri Austin and Aster 2.

The registration for this year’s Jewels of Johor award is open until July 25.

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