Iskandar Investment, UEM Land to develop Nusajaya project

HomeGuru.com.my: UEM Land Bhd (UEM Land), a wholly-owned subsidiary of UEM Land Holdings, has entered into a Shareholders’ Agreement with Iskandar Harta Holdings, a wholly-owned unit of Iskandar Investment Bhd, to jointly develop the Lifestyle Retail Mall and Residences @ Medini North project.Under the agreement, UEM Land and Iskandar Harta Holdings will hold a 55 percent and 45 percent interest respectively in Nusajaya Lifestyle Sdn Bhd, the company responsible for developing and managing the entire project.“This partnership is symbolic of Iskandar Investment’s efforts to drive more domestic investment to Iskandar Malaysia and grow Medini into a vibrant, connected and livable community,” said Datuk Syed Mohamed Syed Ibrahim, President / CEO of Iskandar Investment and Chairman of Iskandar Harta Holdings.Located in Medini North, Nusajaya, the project will have a total gross floor area (GFA) of two million sq ft. It will feature colonnade-style retail outlets, entertainment facilities, a shopping mall and serviced apartments, and is designed to provide a unique retail, entertainment and lifestyle experience with an emphasis on nature.In an interview with HomeGuru.com.my, Datuk Syed said nearly 350 units, averaging 1,000 sq ft, are being planned for the development.“The value of the homes will be determined based on the market price at the time of its launch.

Read more from the original source:
Iskandar Investment, UEM Land to develop Nusajaya project

Incoming search terms:

This entry was posted in invest, Property Developer and tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , . Bookmark the permalink.

Comments are closed.