Raffles Education Corp, through its whole-owned Malaysian subsidiary, has signed a joint venture agreement with Education@Iskandar to establish Raffles University Iskandar in Malaysia's southern state of Johor.
The self-accrediting university will begin operations in October this year out of its leased premises at Kota Raya, Johor Bahru, while its permanent campus in EduCity@Iskandar is being built.
The 65-acre multi-facility campus is expected to be ready by 2013.
The school will join several other educational institutions in Malaysia's southern development corridor, such as the Newcastle University Medicine Malaysia, the Netherlands Maritime Institute of Technology, and the University of Southampton Malaysia Campus.
The new university will be 80 per cent held by Raffles Education Corp and 20 per cent by Education Iskandar, which will be responsible for the development and operations of the university.
Both companies will put in approximately S$82 million into the project.
The school is expected to enrol up to 5,000 students in its first five years of operations.
It will initially provide undergraduate and postgraduate programmes in three faculties - Business, Design & Art, and Education & Social Sciences.
Two more faculties - Health Sciences and Technology - will be added later.
Raffles Education Corp is the largest private education provider in the Asia-Pacific region.