JOHOR BARU: United Malayan Land Bhd (UMLand) is set to expand its footprint in Iskandar Malaysia, here, with all of its ongoing projects, worth more than RM3 billion, expected to be completed on time.
The projects include Suasana Iskandar with an estimated gross development value (GDV) of half a billion ringgit, UMCity Medini Lakeside (RM1.2 billion) and Johor Halal Park (RM1.5 billion).
Ken Ng, chief executive officer (CEO) of Exquisite Mode Sdn Bhd — a subsidiary of UMLand — said the major components of Iskandar Malaysia were expected to be completed in the first quarter of next year, before the completion of cross-border infrastructure projects linking Singapore and Johor.
“The upcoming development of cross-border connectivity projects like the Johor-Singapore Rapid Transit System and the Kuala Lumpur-Singapore high speed rail, will surely benefit Suasana Iskandar and other UMLand’s projects.”
Ng said the boost in the connectivity within Iskandar Malaysia would provide greater access to Suasana Iskandar, located near the upcoming Johor Baru Sentral mass rapid transit station, and will result in higher capital appreciation for the development.
UMCity Medini Lakeside, a collaboration with Samsung and other international brands such as Regus, Ascott and Neverland, is on track to be completed in the third quarter of 2018.
UMCity deputy senior manager Azlan Salim said the piling works had been completed ahead of schedule, a positive sign of the group’s commitment to completing its projects on time.
The award-winning integrated development, located opposite the Legoland theme park, is a 10-minute drive from the Malaysia-Singapore Second Link and 20-minute drive from Senai International Airport.
Meanwhile, the first phase of Johor Halal Park, slated for completion by year-end, was 45 per cent completed, said Mohd Noor Abdul Salam, CEO of Tentu Teguh Sdn Bhd, another unit of UMLand.
“The first phase, spanning 20.23ha, entails the construction of 89 factories, 36 office units and a science laboratory for local and foreign companies involved in the halal sector,” he said.
The second phase of the halal park project, which will begin construction in the middle of the year, is expected to be completed in 2018, while the third phase will start next year and will be ready in 2020.
Mohd Noor said UMLand was optimistic of drawing 50 per cent investments into the project by year-end and 100 per cent by the first quarter of next year.