Domestic investors seizes opportunity in Iskandar Malaysia

17 August 2011, By IRDA

JOHOR BAHRU, 17th August 2011: The metamorphosis of ISKANDAR MALAYSIA – one of the country’s foremost economic corridors – into a vibrant economic centre come 2025 is progressing according to schedule.

As the economic region enters 2012, which has been earmarked as its Tipping Point, ISKANDAR MALAYSIA is now abuzz with the realisation of many international catalytic projects, including LEGOLAND Malaysia, the Johor Premium Outlets and the Newcastle University Medicine Malaysia (NUMed). Beyond 2012, new international schools will be opening their doors and so, too, will be the completion of Pinewood ISKANDAR MALAYSIA Studios (PIMS) and the Indoor Theme Park at Puteri Harbour in Nusajaya.

New toll free highways are providing ease and convenience to the local communities spurring new townships and domestic property enclaves of opportunities. The investment of the strategic Coastal Highway, which will link Johor Bahru city to Kota Iskandar, is expected to be completed by early 2012.

On another exciting note, ISKANDAR MALAYSIA will be welcoming a RM500million domestic investment KSL Resort Johor Bahru, the largest 5-star hotel with 1000 exclusive rooms and suites that will be opening its doors in December 2011. This urban resort also houses a shopping mall, an EXPO Hall, 5 cinemas’, Tesco and a wide range of retail outlets which is expected to boost the tourism industry in ISKANDAR MALAYSIA.

Encik Ismail Ibrahim, Chief Executive of Iskandar Regional Development Authority (IRDA), further clarified earlier statements on the investments in ISKANDAR MALAYSIA.

“From an investment perspective, I would like to reaffirm that the economic region has fared very well.

As of June 30 this year (2011), ISKANDAR MALAYSIA has recorded a total cumulative committed investment of RM75.96 billion (since its inception in November 2006)”. Of this total, 60% (RM45.48 billion) is from local investments, while the remaining 40% (RM30.48 billion) from foreign investments. “

“Of the cumulative committed investment, the realised investment during the period stood at RM30.47 billion” Ismail Ibrahim, Chief Executive of Iskandar Regional Development Authority (IRDA) further reiterated.

To date, ISKANDAR MALAYSIA’s top three foreign investors hail from Europe, Asia and the Middle East.

Encik Ismail shared, “As we continue to reach out to the region for awareness and wooing new investors, Iskandar Malaysia facilitated by IRDA, is the platinum sponsor of Global Entropolis@ Singapore in October. This is the premier business leaders’ event in the region looking for off shoring their core services whilst discovering new ideas for wealth creation. “

“I am also pleased to welcome a delegation of 100 senior government officials and business leaders from Wenzhou Province, China in early Sept, who are keen to explore and discover investment and trade opportunities. “

Besides gaining confidence from potential investors to invest in ISKANDAR MALAYSIA, Ismail added this commitment will create and spur secondary businesses and increase job opportunities for the local population.

“We believe it will also kick start the interest of knowledge workers nationally and induce brain drain reversal supporting the human capital development needs in ISKANDAR MALAYSIA,” said Ismail.

IRDA continue to pursue foreign investment awareness and recently have participated with MITI and MIDA trade missions to UK, US(Oil & gas),Japan, Korea, Indonesia and Brunei.

--- Ends ---

About IRDA

The Iskandar Regional Development Authority (IRDA) is the regulatory authority mandated to plan, promote and facilitate the development of Iskandar Malaysia into a strong and sustainable metropolis of international standing, where living, working, business and leisure converge seamlessly. For media inquiries, kindly contact Norhayati Sulaiman-Adzhar at 019-700 7877.