JOHOR BARU: The Johor Regent and the Singapore government have agreed to a land swap deal in the island republic.
Tunku Ismail Sultan Ibrahim, who is also Johor crown prince, owns the 21.1ha plot of land at Holland Road, according to a media release on Singapore's Urban Redevelopment Authority (URA) website.
The land, comprising Plot B and Plot C, has been under the private ownership of the Johor royal family for generations.
"The Regent plans to develop his land. The Singapore government and the Regent have agreed to undertake a land swap so his planned developments will be further away from the Singapore Botanical Gardens Unesco World Heritage Site.
"The Regent will transfer Plot C, which is closer to the Singapore Botanic Gardens Unesco World Heritage Site, to the Singapore government," the statement read on Tuesday (June 10).
In exchange, the Singapore government will transfer 8.5ha of state land (Plot A, shaded purple in the figure), to the Regent, the statement said, adding that the land parcels to be swapped are comparable in value.
Plot B will remain under Tunku Ismail's private ownership, according to the press release.
It also mentioned that the Regent might develop his land after the swap, which is suitable for low-rise and low-density residential use.
"Any development plans will be subject to due process. URA and agencies will assess any development applications and ensure that the proposed development is sensitive to the surrounding site context.
"Prior to commencement of any works, the development will be subject to environmental studies to mitigate any potential impact on the environment," the press release said.
The Singapore government also pointed out that it would keep Plot C "undeveloped for now, while keeping open our future plans for the area".
Meanwhile, sources say that after the land swap, the Regent's land will be worth between RM15bil and RM30bil.
