Medini Iskandar Malaysia

Medini Iskandar Malaysia

Medini Iskandar Malaysia located within the Iskandar Puteri development zone, flagged as Zone B under the Iskandar Malaysia development blueprint, located in Johor Bahru District, Johor, Malaysia. The project covers land area of 2,300 acres (9.3 km2), it is Malaysia largest single urban development to date.[1]

The parcel of land used to be known as Node 1 Integrated City.

Background

The development was launched in Cityscape Dubai, an annual property investment event held by the Gulf Cooperation Council. The development of this zone is undertaken by a public-private partnership involving several notable companies such as Kuwait Finance House and Iskandar Investment Berhad.[1]

Two companies have been set up with Middle Eastern partners to facilitate the development of this region, which are Global Capital and Development Sdn Bhd and Medini Central Sdn Bhd. The two companies will enter a strategic partnership with Iskandar Investment Berhad to jointly develop the region, which will commit US$1.2 billion as the initial development fund.

The gross development value (GDV) stands at US$20 billion spanning 15 to 20 years.[2] It is expected that 40% of the project will be completed in year 2014.

Medini, name derived from the ancient name of the southern tip of Peninsula Malaysia, Ujong Medini, is the key inspiration for naming this development zone as Medini Iskandar Malaysia.[3]

Clusters

Medini Iskandar Malaysia is sub divided into three development clusters, namely Iskandar Financial District, Medini Central and Lifestyle & Leisure Cluster (Medini North & Medini South). Each of the development cluster will be developed by different developers, mainly investors from the Gulf Cooperation Council countries.

Medini Business

Medini Business District occupies 365 acres (1.48 km2) of land within the Medini Iskandar Malaysia, and it is poised to become the leading business environment in South East Asia. Developments within this cluster include business parks, office blocks, hotels and convention center.[3]

Developer of Medini Business District is Global Capital & Development (GCD)

Medini Central

It used to be known as Cultural & Heritage Cluster. Medini Central is one of the three development parcels marked for development. The cluster spans 620 acres (2.5 km2) from the east region of Medini to the West Medini. It is intended to lift the quality of life of Medini.

Medini Central is further divided into three zones, namely Trade & Logistics, Creative Park and Heritage District.[3]

Medini Lifestyle and Leisure Cluster

The cluster covers 1,274 acres (5.16 km2) of land mass in the Medini Zone, or approximately 55% of the total land area of Medini Iskandar Malaysia. There are two zones within this cluster, which are Medini North and Medini South.

Medini North is located at the northern tip of Medini Iskandar Malaysia, spanning 570 acres (2.3 km2). Several infrastructures are planned to be built in this zone, including a theme park and a retail promenade. Legoland Malaysia is located within Medini North and it is slated to be open by year 2012. A retail mall built adjacent to Legoland, largest in southern Malaysia, is expected to be open by 2012 as well.[4]

Medini South, overlooking the Straits of Johor and Singapore, will feature a low density developments such as villas, a golf course, boutique retail centres, as well as a health and wellness village.[5]

See also

References

  1. 1 2 "Iskandar Malaysia's $20bn 'Medini' launched at Cityscape Dubai 2008". AMEInfo.com. October 7, 2008.
  2. ↑ "Flagship B: Nusajaya". October 2, 2010.
  3. 1 2 3 Medini Brochure (PDF), October 2, 2010, pp. 21, 26
  4. ↑ Chin, Joseph (October 15, 2009). "Iskandar Investment showcases retail mall in Singapore". The Edge Property.
  5. ↑ Musa, Zazali (April 22, 2010). "All systems go in Medini". The Star Business.

External links

This article is issued from Wikipedia - version of the Monday, February 08, 2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.