Wednesday, December 5, 2012

Singapore investor plans more investments in Johor's Iskandar region


JOHOR BAHRU: Singaporean billionaire investor Peter Lim plans to invest up to three billion ringgit more in Johor's Iskandar region over the next few years.

He said he is currently looking at another one or two more projects in the area, but declined to disclose more details.

Speaking at the sidelines of a press conference at the World Islamic Economic Forum in Johor Bahru, Mr Lim said his investments would be real estate-related.

This could be in acquiring land as well as commercial or residential properties.

He said the additional investment is on top of the RM10 billion (S$4 billion) Vantage Bay waterfront project, also in Johor Bahru, which he is developing with the Johor royal family.

Separately, Mr Lim announced on Tuesday a joint venture to build a RM3.5 billion Motorsports City, also in the Iskandar region.

This is between FASTrack Autosports, a company which he controlled with the Johor royal family, and UEM Land, a subsidiary of Khazanah Nasional Berhad.


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