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BT report: Capitaland’s investment in RM4 billion Danga Bay development PDF Print E-mail
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Tuesday, 19 February 2013 04:56

BT report: Capitaland’s investment in RM4 billion Danga Bay

CAPITALAND, Singapore’s property giant plans to team up with Iskandar Waterfront Holdings Sdn Bhd to develop a project in the Danga Bay area whose estimated gross development value is RM4 billion (S$1.6 billion) to RM5 billion.

Capitaland is believed to be gearing up to build its first large-scale township development in Malaysia, its foray into the special economic zone of Iskandar seen as paving the way for hesitant investors from Singapore to follow suit.

According to a news report yesterday, the Singapore property giant plans to team up with Iskandar Waterfront Holdings Sdn Bhd (IWH) to develop a project in the Danga Bay area whose estimated gross development value is RM4 billion (S$1.6 billion) to RM5 billion. The parties are considering a mixed integrated development and that an agreement would be signed today.