16 Mar '13, 7pm

CapitaLand devt township in Iskandar Waterfront Sdn Bhd (IWSB) Msia

Property giant CapitaLand will develop a new township in Iskandar Malaysia after its wholly-owned subsidiary CapitaLand Malaysia signed an agreement with Iskandar Waterfront Sdn Bhd (IWSB) and Temasek Holdings to jointly acquire and develop sites in Danga Bay (A2 Island). The deal involves purchasing 71.4 acres or 3.1 million sq ft of freehold land in A2 Island for about S$324 million. The signing of the agreement was witnessed by Prime Minister Lee Hsien Loong and his Malaysian counterpart Datuk Seri Mohd Najib Tun Abdul Razak. CapitaLand Malaysia will lead the development of the township which is expected to yield a total gross development value (GDV) of about S$3.2 billion. To be developed within 10 to 12 years, the luxury waterfront community will comprise high-rise and landed homes as well as a central waterfront hub with a marina, restaurants, shopping mall, offices,...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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