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Monday, May 26, 2008

RM200mil nursing college to take shape in Bandar Sri Sendayan

PROPERTY developer BSS Development Sdn Bhd, a subsidiary of Matrix Concepts Holdings Bhd, expects anchor investor International University College of Nursing (IUCN) to boost the economic development in its new township, Bandar Sri Sendayan in Seremban.

Today, state government agency Menteri Besar Inc of Negeri Sembilan will sign a deal to sell 200 acres in Bandar Sri Sendayan to Run Education Sdn Bhd, the owner and manager of IUCN.

Run Education will invest about RM200mil to build IUCN, Malaysia's first international nursing school.

BSS, in a joint venture with Menteri Besar Inc of Negeri Sembilan, is developing the 5,235-acre Bandar Sri Sendayan, which has a gross development value of RM3bil.

“We believe that the new IUCN campus will accelerate the growth of Bandar Sri Sendayan as well as stir up the local economic activities in Seremban,” Menteri Besar Inc of Negeri Sembilan chief executive officer Datuk Mohd Hasiah Mohd told StarBiz.

He said Menteri Besar Inc is confident of attracting students from neighbouring countries, as IUCN would have a competitive advantage in terms of location, being only 20km from the KL International Airport.

IUCN had a target of 60:40 ratio between international and local students, he added.

BSS managing director Datuk Lee Tian Hock said IUCN expected the first intake of 5,000 students in September next year and hoped to accommodate 20,000 students by 2011.

“We hope IUCN would attract foreign and local students to pursue nursing qualifications in Seremban as the cost of living is relatively lower than the Kuala Lumpur city centre,” he said.

Located in the middle of Bandar Sri Sendayan, the IUCN campus would be developed in two phases and construction was scheduled to start next month, said Lee.

According to him, Bandar Sri Sendayan is expected to have a population of 60,000 when it is fully developed in 15 years.

Meanwhile, BSS and the Negri Sembilan state government agency are currently in talks with a foreign party to sell 1,000 acres for over US$1bil for an integrated tourism-related project.

The deal was expected to be finalised next month, said Mohd Hasiah.

By The Star - StarBiz

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