Hit Counter: 0

Selling Iskandar at property show in Dubai

[ 04-10-2008 ]
Selling Iskandar at property show in Dubai

JOHOR will mount a major marketing blitz to sell Iskandar Malaysia (Iskandar) to investors at the Cityscape international property show to be held at the Dubai International Exhibition Centre in Dubai from Oct 6 to 9.

The investment pitch, spearheaded by Menteri Besar Datuk Abdul Ghani Othman in his capacity as joint-chairman of the Iskandar Regional Development Authority (IRDA), is also the first shift away from traditional markets in Southeast Asia.

He will lead a 100-strong delegation comprising heads of government agencies, chief executives of government-linked companies and private developers actively involved in Iskandar.

Foreign investors in the Middle East, who have already committed to invest in Johor, will also join in to give it the extra push.

Cityscape 2008, touted as the world's biggest property exhibition, will showcase over 1,000 world-class projects by some of the biggest names in real estate development from around the globe.

This is the first time Johor is making a coordinated sales pitch at an international property show in the Gulf.

"We want to make a splash to boost international awareness about Iskandar," said Ghani, adding that the Johor Corridor would feature prominently at the exhibition with a 255 sq m booth.

Besides IRDA, the booth will also showcase models and artist impressions of upcoming developments by three key players -- Iskandar Investment Berhad (IIB), UEM World Berhad and Danga Bay Sdn Bhd.

IIB, an investment arm of Khazanah Nasional Berhad, was set up to develop Iskandar, while UEM is a real estate developer with a large land bank in Nusajaya, near Gelang Patah. Danga Bay is also developing high-end properties along the waterfront here.

Middle East heavyweights such as Mubadala Development Company, Kuwait Finance House and Millennium Development International Company will also be showcasing their vision for Iskandar at the exhibition.

This includes the RM2.9 billion Iskandar Financial District coming up within Medini Iskandar, an integrated development within a 903ha site in Gelang Patah near the Second Link to Singapore.

Ghani, who described Iskandar as the biggest global development story since the explosive growth of Dubai, said there was a dire need to heighten the buzz about the exciting shape of things coming up there.

Three times the size of Singapore, Iskandar spans over 2,217 sq km and is a mixed-use development planned for completion in 2025. "We want to drive home the message that Iskandar provides unique and truly global investment opportunities for interested parties."

The menteri besar, who will meet top businessmen and investors at Cityscape Dubai, said the focus would be on wooing catalytic developers keen on mega projects.

This covers the whole spectrum of the Iskandar masterplan, including the development of high-end holiday resorts, theme parks, financial centre, transportation hub, EduCity and Medical City.

"We're prepared to negotiate strategic incentives for prospective investors," he said. This is in addition to the package of incentives already announced, such as tax breaks, ease of talent recruitment, lifting of foreign ownership restrictions and one-stop approvals through IRDA for businesses.

Ghani said Cityscape Dubai, which attracts top-notch developers, master planners, architects, investors and other professionals, was the ideal platform to sell Iskandar to the world.

He said the success of Iskandar was crucial because of its far reaching implications on the country and Johor, in particular, in terms of new jobs, businesses, infrastructure and the quality of life of the people.

After the Gulf, the Iskandar roadshow is headed for Australia, China and India.

112730114539.gif111622114032.gif118702193755.gif109523185540.gif117214123105.gif113603093720.gif114415112723.gif116608155242.gif