$3.2 billion waterfront township to be built on Johor island
Joint-venture project will come up in Danga Bay
A DEAL to develop a $3.2 billion waterfront township in Johor was sealed yesterday in yet another major Singapore-Malaysia investment in the Iskandar region.
The joint venture along Johor's southern coast is between CapitaLand Malaysia, a subsidiary of Singapore's listed company CapitaLand, and Temasek Holdings on one side and Malaysia's Iskandar Waterfront Holdings on the other.
To be built on a man-made island on Danga Bay, the residential community will occupy 28.9ha on a plot about one-third the size of Gardens by the Bay.
It will be built in phases over 10 to 12 years and will have high-rise and landed homes, as well as a marina, shopping mall, restaurants, serviced residences, offices and recreational facilities.