Malaysia’s Khazanah Nasional Bhd and Singapore’s Temasek Holding Ltd will form a 50-50 joint venture company to undertake the development of the project with the participation of private sectors from both countries.
This was announced by Prime Minister Datuk Seri Najib Tun Razak after meeting Singapore Prime Minister Lee Hsien Loong during a leaders’ retreat at Shangri-La Hotel here today.
Today’s announcement is the latest tangible development after the idea for the project was mooted during Najib’s official visit to Singapore following his appointment as prime minister early last year.
In their joint press conference, both Najib and Lee reiterated their support for the “live work play” wellness township concept proposed by the Joint Ministerial Committee on Iskandar Malaysia (JMC) which would offer holistic wellness services and facilities.
Both leaders hoped to launch the project within a year.
The township will be designed to be vibrant, culturally distinctive, yet socially harmonious and environmentally friendly.
A unique feature of the project will be the encapsulation of “wellness” within activities throughout the township, alongside the integration of traditional healing methods, complementary alternative medicine and modern treatments.