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Tuesday, August 25, 2009

Aussie firm seeks Malaysian partner for waterfront jobs

AUSTRALIA's Niecon Development Pty Ltd plans to partner Malaysian developers, including government-linked companies to develop waterfront projects here.

Niecon, set up in 1969 in Australia, is a private company with projects mainly in Queensland.

Its head of international sales and marketing Jo Pavlovich said Niecon is in talks with a few developers but declined to name them .

Pavlovich told Business Times in an interview in Kuala Lumpur recently that Niecon is keen to develop waterfront projects in Sabah, Sarawak and Port Klang to replicate what it has done in Australia.
"We want to develop properties in Malaysia so Australians could buy here. There are great opportunities for Australians to own properties under the Malaysia My Second Home initiative," Pavlovich said.

"Malaysia is one of the strongest country in Asia. There is a good working relationship between Malaysia and Australia and we find it easy to do business here," she added.

Pavlovich said Niecon may form a project-related vehicle with interested developers or landowners to undertake developments jointly, or come in as an equity partner.

She said Niecon is open to options and its role in the developments would be in design, project management and marketing.

Pavlovich said Niecon is also interested to develop luxury residences and office towers in Kuala Lumpur.

The company is currently developing two prestigious projects in Queensland, namely The Oracle in Gold Coast and Nirvana, each worth A$850 million (RM2.51 billion) and A$70 million (RM206.5 million).

Pavlovich said the projects are not designed for first time house buyers but purchasers who buy homes as lock-ups or as a holiday destination.

By Business Times (by Sharen Kaur)

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