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Monday, September 27, 2010

UEM Land counts on Nusajaya

From left: UEM Land strategic marketing GM Zamry Ibrahim, strategic marketing and communications director Zulkifli Tahmali and Mohamad Razif Abdul Wahab looking at the model of the company’s Nusa Bayu mixed property development project.

NUSAJAYA: UEM Land Holdings Bhd is banking on the on-track development of Nusajaya as the main selling point for its latest mixed property development project.

Senior marketing and sales manager Mohamad Razif Abdul Wahab said that Nusa Bayu, to be launched early next month, would be the company’s fourth ongoing project in Iskandar Malaysia.

The other three projects are East Ledang, Nusa Idaman and Puteri Harbour while Horizon Hills is a joint venture between UEM Land and Gamuda Bhd.

“Nusajaya is progressing well and moving on the right track as planned, attracting investments from both local and foreign investors,’’ Razif told StarBiz.

UEM Land is the master developer of the 9,308ha Nusajaya, the key driver of Iskandar Malaysia, the country’s first economic growth corridor launched on Nov 4, 2006.

Nusajaya comprises eight catalyst developments — Kota Iskandar (Johor’s new administrative centre), Southern Industrial and Logistic Clusters, Puteri Harbour Waterfront Development, EduCity, Medical City, International Destination Resort and Nusajaya Residences.

Razif said that Nusa Bayu, sited on 105.21ha along the Pontian Link, would have 5,000 residential and commercial properties and a gross development value of RM700mil.

He said the initial launch was set for 130 double-storey link houses, with a built-up area of 1,400 sq ft each and costing under RM300,000.

He said the company would target young families, first-time homebuyers and Malaysians working in Tuas and Jurong in Singapore, as the project was easily accessible from the Second Link crossing.

“We conducted a market study and found that there was a huge gap for new houses priced between RM200,000 and RM300,000 in Nusajaya,’’ Razif said.

Razif said feedback also showed that many buyers, including foreigners, were attracted to properties in Nusajaya.

Work on infrastructure and several development projects in Nusajaya are on schedule and are expected to be completed in the next two to five years.

They include the RM1.4bil Coastal Highway linking Johor Baru city centre to Nusajaya, Asia’s first Legoland Theme Park, Indoor Theme Park @ Puteri Harbour, Marlborough College, Newcastle University Medical Faculty and Pinewood Studios.

By The Star

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