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

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