Malaysia - Iskandar Scores New F1 Circuit, More Investments From Singaporean Billionaire

December 6, 2012

    Singaporean billionaire Peter Lim has announced a new Formula One-compliant circuit as part of a planned motorsport-themed project, and has also indicated plans for further investment.

    A deal involving the development of a motorsports-themed commercial and entertainment complex, Motorsport City, in Iskandar, Johor, has been confirmed by Singaporean billionaire Peter Lim.

    The project will include the construction of a new Formula One-compliant circuit measuring 4.5 km that will be designed by an as-yet-unnamed F1 Track designer, said Lim.

    The gross development value of Motorsport City is estimated at RM 3.5 billion. The project is a joint venture between Lim's FASTrack Autosports Pte Ltd and Malaysian developer UEM Land Holdings Bhd, with the former holding a 70% stake, and the latter, 30%.

    Motorsport City's new F1 circuit will support the expansion of motorsport in the region, in tandem with Malaysia's Grand Prix track in Sepang and Singapore's status as the host of the F1 Night Race. "The region is fast becoming a hub for motor sports," noted Lim.

    Lim has also indicated that he is planning to inject a further RM 3 billion into the Iskandar region for one or two more projects. He said that these would be real estate-related, and could involve the acquisition of land or commercial and residential properties.

    These additional investments are apart from the RM 10 billion Vantage Bay waterfront project, also in Johor Bahru, that Lim is currently developing with the Johor royal family.
Location: Persisiran Pantai Jb - Nusajaya Hwy, 柔佛州马来西亚

Comments

Post a Comment

Popular posts from this blog

Property for Sale & Rent in Johor Bahru (October 2018)

Property For Sale Location: Masai Lama Johor Bahru Property Type: Single Storey Factory Corner Tenure: Freehold Non-Bumi Built Up Area: 20022 sqft Land Area:19022 sqft Power Supply: 250 amp Ceiling Height:25 ft Sale: RM 3,988,000 (Neg) Location: Taman Gaya, Ulu Tiram Property Type: Double Storey Cluster Tenure: Freehold Non-Bumi Built Up Area: Land Area:35' x 90' sqft Power Supply: Ceiling Height: Others: NEW with Clean Title Sale: RM 1,370,000 (Neg) Property Type: Double Storey Cluster Tenure: Freehold Non-Bumi Built Up Area: Land Area:35' x 90' sqft Power Supply: Ceiling Height: Others: NEW with Clean Title Sale: RM 1,340,000 (Neg) Location: Molek Pine Apartment, Taman Molek, Johor Bahru Property Type: Apartment Tenure: Freehold Non-Bumi Built Up Area: 1,469 sqft Land Area: Power Supply: Ceiling Height: Others: Fully Renovated Sale: RM 750,000 (Neg) Location: Taman Desa Jaya, Johor Bahru Property Type: Double Storey Terrace
Read more

One Sentral Serviced Residences Nusajaya Johor

Image
Developer: Country View Resources Sdn Bhd Nusa Sentral One Sentral Serviced Residence Property Type; Serviced Apartment Tenure : Freehold Non Bumi Built up Area :740 sqft Furnish : Semi- Furnish 1 car park & 1 access card Rental Fee: RM1500 (Include Maintenance Fee) Neg Facilities Fee: TNB & SAJ borned by Tenant Contract min 24 months Term & Conditions: Down payment Deposit: 2 months RM 3,000 Down payment Rental: 1 month RM 1,500 Facilities Deposit: YES, RM 500  Prefer Family (Chinese) No allowed Pet,  as Tenant Agreement borned by Owner.   Type A 2 bedrooms + 2 bathrooms 3 Air-con 3 Ceiling Fan Sofa set Dinner table set 1 bed + waredrobe Built in Kitchen cabinet + gas cooker Welcome to contact:  Kelvin Yeo 012-7098632
Read more

New Residence Development at Pandan City, Johor Bahru

Image
New residential development to include a 21-storey tower, to contain 200 medium low-cost apartments and a four-storey basement car park. Works will include: • lift system • air-conditioning system • recreational facilities • plumbing and sanitary • common lightings Building elements include: • tile and carpet flooring • powder-coated aluminium-framed casement windows and louvers • timber flush doors Estimated costs: RM10.00 mn (US$2.86 mn). Construction is expected to start in the second quarter 2013. Construction is expected to end in the second quarter 2015. Friday, July 10, 2009 Mahabuilders to revive Pandan City Business Centre project JOHOR BARU: Property developer Mahabuilders Sdn Bhd plans to revive the abandoned Pandan City Business Centre here into a thriving commercial and educational centre. Managing director Mustapha Hassan said it was currently talking with several educational-related institu
Read more