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Wednesday, April 14, 2010

Joint venture in RM1.7b waterfront project

KUALA LUMPUR: Australia’s Walker Corp is investing RM1.7bil to develop Senibong Cove, Johor’s first exclusive waterfront enclave, on the eastern corridor of Iskandar Malaysia.

The project will be developed in a joint venture with the landowner, Iskandar Waterfront Sdn Bhd, via Front Concept Sdn Bhd.

In a statement yesterday, the JV company said Johor Menteri Besar Datuk Abdul Ghani Othman, was instrumental in securing the investment.

Ghani said the project was the first of several initiatives to spread foreign investments in major Iskandar Malaysia growth areas.

The new world-class residential enclave Senibong Cove is developed on 84ha freehold land overlooking the Straits of Johor.

By Bernama

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