Iskandar Investment, WCT in joint venture

WCT Bhd and Iskandar Investment Bhd will jointly develop and co-own the 4.4-hectare 1Medini residential project in Medini Iskandar, Johor with a gross development value (GDV) of RM600 million.

The project will be developed by One Medini Sdn Bhd, a 70:30 per cent joint venture between WCT’s subsidiary, WCT Land Sdn Bhd and Medini Land Sdn Bhd, a subsidiary of Iskandar Investment.

Scheduled to be fully completed by 2015, the 1,332 units of condominiums in 1Medini would include a 68,800 sq ft commercial area for local retail businesses.

Priced at RM350 per sq ft, the first phase of the condominium is expected to be launched in early 2012.

By Bernama