Malaysia - Tang Group To Build Mixed-use Development In Iskandar

December 3, 2012

Tang Group unit Global Skyline Sdn Bhd will embark on an RM 750 million development comprising hotel, shophouses and residential components in Iskandar Malaysia.

Iskandar Malaysia in Johor has secured an investment estimated at RM 750 million from Singapore-based Tang Group of Companies. Through subsidiary Global Skyline Sdn Bhd, Tang Group will undertake its iMedini Walk mixed-use project on three plots spanning 3.2 ha.

An agreement has been signed with Medini Land Sdn Bhd for a 99-year lease for the three plots, which would generate over 1.38 million sq ft in gross floor area (GFA) in total.

The project, located along the spine road leading to the Mall of Medini and Legoland Malaysia, will offer residential, hotel and commercial space. The latter will take the form of about 150 three-storey strata shophouse units with an average GFA of 3,300 sq ft each.

Also included are residential units, hotel and serviced apartments that will be housed in towers across the retail belt, with views of Legoland and Puteri Harbour.

Dennis Chiu, Director at Tang Group, said “We recognise the potential of Iskandar Malaysia, with immense opportunities to create and offer innovative and modern business and lifestyle solutions to not just Malaysians but global citizens.” He also said that the company will continue to venture into Malaysia, particularly in Southern Johor.

Syed Mohamed Syed Ibrahim, President and Chief Executive Officer of Iskandar Investment Berhad, said the company wants to create a modern metropolis within Iskandar and Nusajaya as part of their continued aspiration towards development, as well as an assurance to their Singaporean partners and investors.