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Tuesday, May 5, 2009

Iskandar attracts strong interest at Abu Dhabi property expo

ISKANDAR Malaysia drew encouraging response from potential investors in the Middle East during the recent four-day Cityscape Abu Dhabi property exhibition, according to its developer Iskandar Investment Bhd (IIB).

IIB managing director Arlida Ariff said there were more than 1,500 visitors to its booth, which showcased the Medini Iskandar Malaysia and Iskandar Waterfront Development projects. The exhibition was held from April 19 to 22,

"We were overwhelmed at the response we received from investors, in spite of the current weak global economy," she said in a statement yesterday. "We will now work hard to translate this positive interest into real investments."

Arlida said Medini Iskandar Malaysia recorded interest from investors from Abu Dhabi, Dubai, South Korea, United States and Lebanon. The main areas of interest were in education, hotel and residential landbanks.

As for the Iskandar Waterfront Development project, the focus were the Iskandar Residences and A2 Villa projects which received interest mainly from UAE investors.

"Despite the global economic slowdown, the Middle East remains one of our main target markets for investment for Iskandar Malaysia," said Arlida.

Part of IIB's delegation at the exhibition was a Malaysia My Second Home (MM2H) agent, who received around 50 serious enquiries on the programme.

The MM2H is an international residency scheme promoted by the government to allow foreigners to live in the country on a long-stay visa of up to 10 years.

"The relevance of this programme to the development of Iskandar Malaysia is that we are not just looking for people to buy property but also need the population to build and sustain the development corridor."

More than 300 companies from over 30 countries took part in the property exhibition.

By Business Times (by Shahrum Sayuthi)

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