Wellness township in Johor
26 May 2010 , By Straits Times Singapore
TEMASEK Holdings and Malaysia's Khazanah Nasional Berhad will form a joint venture company to develop a wellness township in Johor's Iskandar Malaysia Region.
Malaysia and Singapore have been in talks to work together on an 'iconic' development in the region since late last year. Yesterday, following a retreat between Prime Minister Lee Hsien Loong and Malaysia's Prime Minister, Datuk Seri Najib Razak, the two leaders agreed on the framework of this partnership.
A joint statement said that both leaders had agreed for Temasek and Khazanah to hold an equal share in the joint venture. The private sectors of both countries would also be involved.
Both prime ministers hoped the project would be launched within a year.
Said Mr Najib at a press conference yesterday: 'Hopefully, by the time we meet next year, there could be something on the ground in Iskandar.'
The proposed 'live, work and play' township will occupy up to 202ha of land and will be designed to be 'vibrant, culturally distinctive, yet socially harmonious and environmentally friendly'.
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