Property

Iskandar Malaysia: A Modern Metropolis in the Making

(This post is brought to you by Iskandar Regional Development Authority)

Launched by the government in November 2006, Iskandar Malaysia is envisaged to become a “strong and sustainable metropolis of international standing” set to spur the economic developments that accentuate Malaysia’s global potential.

Centrally located within South East Asia’s new economic zone and just a short eight-hour flight radius from Asia’s burgeoning growth centres, Iskandar Malaysia also has a package of good fundamentals: existing infrastructure, cultural familiarity, friendly policies and an ease-of-doing business environment based on the best global practices.

Iskandar Malaysia aims to develop a strong, diversified, dynamic and global economy and the development is guided by its Comprehensive Development Plan (CDP) which details out the roadmap of development from 2006 until 2025.

The people of Iskandar Malaysia and the nation will really see the buzz in the area by the latter half of this year when the vision starts becoming a reality. There are many catalytic projects becoming operational, including LEGOLAND Malaysia, which is set to open by September 2012.

At the end of 2011, Iskandar Malaysia had attracted a cumulative committed investment of RM84.78 billion, with 45% of the total spent on the ground across the five flagship zones, each of which feature signature developments.

In Flagship Zone A, Johor Bahru City Centre, the new Sultan Iskandar Customs, Immigration and Quarantine complex was completed in Q4 2008. Currently in progress are rejuvenation works for the central business district and the development of Danga Bay.

Flagship Zone B, Nusajaya, features several signature developments, such as Kota Iskandar; the Johor State New Administrative Centre; a world-class industrial park named Southern Industrial and Logistics Clusters (SiLC) and Afiat Healthpark, a medical enclave complemented by wellness centres.

Other specialised centres include a waterfront precinct, Puteri Harbour: an integrated waterfront and marina development while EduCity is set to become a hub for quality world-class education. Universities set to join the area include Newcastle Malaysia Medical University and Southampton University’s Engineering Faculty, while Marlborough College – a prestigious British boarding school – will accept its first pupils this year.

Britain’s Pinewood Studios – one of the world’s most famous film studios – will be setting up an integrated media production studio facility expected to open in early 2013.

Promoted

At Flagship Zone C sits the Port of Tanjung Pelepas (PTP) while Flagship Zone D features Pasir Gudang Industrial Park, Johor Port and Tanjung Langsat Port. The developments for Flagship E include the Senai Hi-Tech Park, MSC Cyberport City, Johor Premium Outlets as well as the Senai International Airport.

Iskandar Malaysia is also committed to the quality of life in the area. The River Cleaning and Drainage programme has already been completed, while several road projects are being implemented to ease traffic congestion. Efforts will be made to improve public transportation, bus and taxi services within Iskandar Malaysia and, in the area of safety and security, 46 initiatives have been adopted to mitigate the crime rate and improve the quality of life for all.

The Iskandar Regional Development Authority (IRDA) has been entrusted to ensure that the community will benefit from the development, and it is pleased to report that 20,000 jobs have already been created, with 850,000 jobs opportunities projected by 2025. As an economic region which is rapidly growing with a steady momentum, Iskandar Malaysia has itsshare of challenges – issues of resources and perceptions are just a few – but is taking these challenges in its stride.

The journey is still far from finished, but IRDA is positive and committed to continue working hard to ensure that the vision is achieved by 2025.

Visit www.iskandarmalaysia.com.my for more details.

Source: The Expat April 2012 
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