Flagship B: Nusajaya

Introduction
 

Nusajaya, a key component of Iskandar Malaysia with 24,000 acres of contiguous development-ready land, is one of the largest property development in South East Asia.

Flagship B will be a major new growth centre of Iskandar Malaysia where most of the catalyst projects will be developed within the area. The projected population size for this area by 2025 is 500,000.

 

Current key economic activities in Flagship B are focused on mixed property development, state & federal administration and logistics. Going forward, Flagship B would be the hub for creative arts and entertainment, medical facilities, educational institutions, tourism, biotechnology and hi-tech manufacturing. Hence, Flagship B offers a wide range of investment opportunities for investors to participate in the development of Iskandar Malaysia, either by embarking in joint-venture developments or acquiring parcels of prime development land in Nusajaya.

Key players in Nusajaya are property developers including UEM Land, Iskandar Investment Berhad and Mulpha International Bhd, SP Setia, to name a few. In August 2007, the Middle Eastern Consortium (Mubadala, Kuwait Finance House and Millennium Development) and Iskandar Investment Berhad had signed a MOU to develop a RM4.2 billion (US$1.2 billion) integrated international city development, referred to as Medini (formerly known as Node 1).

Most land banks in Flagship B are Residential (freehold and leasehold) and Industrial types (freehold or 20+40-year leasehold).

 
Overview
 

Location
Nusajaya is located west of Johor Bahru, in close proximity to Port of Tanjung Pelepas and Gelang Patah. It is also strategically located within a 45-minute drive from Singapore's Changi International Airport, a regional aviation hub, and 20 minutes from Johor's Senai International Airport. The regional city combines residential, commercial and industrial elements.

Key Functions/Activities
Nusajaya comprises seven signature developments: Kota Iskandar (Johor state new administrative centre), the Southern Industrial and Logistics Clusters (SiLC), Puteri Harbour Waterfront Development, EduCity, Afiat Healthpark, International Destination Resort and Nusajaya Residences, all within a city that sets the benchmark for integrated developments across the globe.

 

Historical Background
Nusajaya's planning was seeded in the mid 1990s when the Malaysia-Singapore Second Link was in the planning process. However, the regional financial crisis in 1997 took its toll and set the development back by several years. In 2003, there was a restructuring of land use. A revised Master Plan, approved by the Johor State Government, formulated a framework that included several catalyst developments that were deemed necessary to kick-start Nusajaya's growth.

Connectivity to Singapore
Flagship B is conveniently accessible from the Linkedua Highway via the Pulai Interchange, as well as via the B5 Road from the Gelang Patah Interchange. It is only a 15-minute drive from Nusajaya to the Linkedua Highway.

 
Key Landmarks
 

Kota Iskandar
Kota Iskandar will be an integrated development, comprising Johor State and Federal government department offices, that will be fully completed by 2012. Spanning 320 acres, the components that will be established in Kota Iskandar are the Johor State Assembly Building, Chief Minister and State Secretary Complex, State and Federal Government Office Complexes and a ceremonial plaza. The land is under the ownership of State Secretary Johor (Incorporation).

Kota Iskandar's milieu of state and federal government complexes within one area will facilitate the government machinery's efficiency to a level befitting its status as a centre of modern and progressive administration. With improved facilities, connectivity and efficiency, the public sector administration will offer enhanced support to existing business within Nusajaya as well as attracting interest and investments from companies that can make a positive impact on the economy and quality of life in this region.

 
For more information,
please visit www.kotaiskandar.com
 

Puteri Harbour
Puteri Harbour is a 688-acre integrated waterfront development that offers exceptional waterfront living. Featuring 10.8km of waterfront properties, this area boasts developments that include canal homes, condominiums, service apartments, resorts, hotels, convention centre, quayside lifestyle stores, fine dining, alfresco cafés & harbour view offices, CIQP / ferry terminal / transport hub and 276 Marina berths. The land is under the ownership of UEM Land Berhad.

 
 

EduCity @ Iskandar
EduCity @ Iskandar is a 305-acre fully integrated best-in-class education hub comprising universities and institutes of higher education, academia-industry action and R&D centre, accommodation and recreational facilities and sports facilities. Newcastle University from the UK is currently building its medical faculty in EduCity and planning to open its campus in 2011. The land is under the ownership of Iskandar Investment Berhad (IIB).

 
 

Afiat Healthpark
Afiat Healthpark spans 67.2 acres and caters to three distinctive areas under the health spectrum, namely modern medicine, traditional and complementary medicine (TCM) and wellness. Afiat Healthpark developments include Columbia Asia's 80-bedded private hospital that will be supported by other health facilities such as private specialist clinics, a health screening centre, a commercial village, a nursing college, a rehabilitation centre, a dialysis centre and facilities for traditional and complementary medicine. The land is under the ownership of UEM Land Berhad.

 
 

LEGOLAND Malaysia
This full-day experience theme park is being built within Medini Iskandar Malaysia. It is expected to be ready by 2012. The Master Planning stage has been completed and earthwork on site is due to commence end of 2009. The 64-acre integrated theme park will feature 19 rides and more than 20 attractions within the park as well as F&B and retail outlets, games and guest service facilities. Surrounding LEGOLAND will be one million sq ft of retail outlets, offices, and two hotels.

 
 

Southern Industrial Logistics And Clusters (SiLC)
Labelled a clean, green and world-class managed industrial park, SiLC capitalises on its proximity to an established network of two international airports and five seaports. An industrial zone with a unique green industrial park concept, SiLC is designed and planned to meet the current demand for environmentally sustainable development that complements both the economy and quality of life. The land is under the ownership of UEM Land Berhad.

 
 

Nusajaya Residences
Nusajaya Residences combine the best of urban living and the refreshing, de-stressing power of nature. Complemented by modern amenities and infrastructure that put safety and security foremost, they are set amidst an oasis of greenery in the form of landscaped parks, gardens and the tropical mangroves of coastal Johor. Each development will boast signature features that distinguish it from the rest, elevating them from mere bricks and mortar to embodiments of refined lifestyle statements. Among the residential areas being developed are Horizon Hills, Ledang Heights, East Ledang and Nusa Idaman. The land is under the ownership of UEM Land Berhad.

 
 
Medini Iskandar Malaysia
Medini Iskandar Malaysia is a 2,230-acre international mixed-used development, encompassing of FOUR development components:
  • Medini North
  • Iskandar Financial District
  • Medini Central
  • Medini South

IIB is in a strategic partnership with their middle-eastern counterparts Global Capital and Development Sdn Bhd and Medini Central Sdn Bhd to jointly develop Medini Iskandar Malaysia, with an initial investment commitment of US$1.2 billion (RM4.1 billion). The development has expected Gross Development Value (GDV) of US$20 billion over 15 – 20 years. The development plan will be 20% completed by 2014, during which a targeted population of 50,000 will also be expected.

1) Mubadala Consortium
This consortium will act as the master concessionaire and land developer (MCLD) investing about US$520 million (or RM1.8 billion) for the lifestyle and leisure cluster - comprising a city centre, golf village, amusement bay, residential district, and a medical and wellness village - in an area of about 1,240 acres.

2) Kuwait Finance House Consortium
This consortium will act as MCLD investing about US$330 million (or RM1.2 billion) for the cultural cluster - comprising the logistics village, creative park and heritage district - in an area of over 620 acres.