By Sharen Kaur
NUSAJAYA (Johor): URBAN development projects are expected to go beyond the fundamentals of maximising land and asset value. They must meet the requirements of tenants, users, communities and stakeholders, as well as generate value and employment in the economy, raise the quality of life and support community development.
Balancing these requirements require good design, strong overall planning, economic and financial modelling, clear-cut engineering and understanding of the development.
Listed developers in Malaysia have recognised that for a project to be successful, they should focus on integrated planning and infrastructure.
It is interesting to note that the largest urban integrated development in Southeast Asia lies in Johor's Nusajaya.
The 9,600ha Nusajaya will play a key role in shaping Iskandar Malaysia to become a sustainable metropolis of international standing by 2025.
Officially launched on February 15 2007, Nusajaya is one of the five flagship zones of Iskandar Malaysia - an economic corridor three times the size of Singapore.
Upon full completion, the region will provide significant investment, financial and business opportunities for economic growth and development in Johor.
From 2006 to 2014, total committed investment in Iskandar Malaysia stood at RM158 billion, with 35 per cent foreign-driven.
Top investors came from Singapore, China, Japan, Spain and the United Kingdom and they invested mainly in the education, tourism and healthcare sectors.
The master developer of Nusajaya is UEM Sunrise and landmark developments include Kota Iskandar, Puteri Harbour, EduCity Iskandar, Afiat Healthpark, Legoland Malaysia Resort, Southern Industrial Logistics and Clusters (SiLC), and Nusajaya residences.
UEM Sunrise chief operating officer, Raymond Cheah Ho Chee, says the company will be busy in Johor for a few years with the ongoing Phase 2 development of Nusajaya, known as Gerbang Nusajaya, attracting many Singaporean and Chinese investors.
The catalytic developments for the 1,800ha Gerbang Nusajaya include the 207.9ha Nusajaya Tech Park, which has a gross development value of RM3.7 billion (a joint venture between UEM Sunrise and Singapore's Ascendas Group), Motorsports City and the Asian Trade Centre.
Gerbang Nusajaya will also comprise developments such as Signature Residences, Gerbang Nusantara (affordable housing), as well as lifestyle and retail parks, campus offices and residential precincts.
"Nusajaya was off to a promising start a few years ago and now we are talking about growth that has taken place in a short span in Gerbang Nusajaya, which is the next big development for Johor.
"In Gerbang Nusajaya, besides catalytic projects, we will offer homes ranging from RM500,000 to RM7 million at Emerald Bay, so people from all walks of life can own a property here and enjoy the facilities and amenities," Cheah told Property Times.
The technology park will focus on delivering a built environment for a wide range of industries, such as electronics, pharmaceuticals and medical devices, food processing, precision engineering, fast-moving consumer goods, logistics and warehousing.
Motorsports City, launched in December 2012, is a joint venture between UEM Sunrise and FASTrack Autosports Pte Ltd, which is controlled by Singapore billionaire Peter Lim.
The RM3.5 billion project over 118ha will feature a 4.5km race track to host GT, go-kart and motorcycle races, and all kinds of racing outside of single-seat class races. It will also be the model automotive hub, comprising 4S (sales, services, spare parts and systems) centres, car showrooms, bonded warehouses, retail and al fresco spaces with food and beverage outlets.
Cheah says Nusajaya Tech Park is on track to completing its first batch of ready-built facilities by end of the year and has attracted flagship clients SANWA and Telekom Malaysia.
FASTrack is close to finalising the details for the commencement of physical construction works The Asian Trade Centre, which is akin to Dragon Mart in Dubai, will be developed over 48ha. UEM Sunrise's partner for this is Chinamall Holdings Pte Ltd.
The 1.4 million sq ft mall worth over RM600 million will house more than 3,000 merchants offering products ranging from textiles to jewellery.
Gerbang Nusajaya is located 5km from the Tuas Checkpoint via the Malaysia-Singapore Second Link with easy access to the Senai International Airport and Singapore's Changi International Airport.
Meanwhile, Cheah says Gerbang Nusajaya's gross development value of RM42 billion is expected to surpass the RM60 billion mark as it will be connected to the proposed high speed rail (HSR) link between Kuala Lumpur and Singapore, which will raise land and property prices.
Malaysia and Singapore have in principal agreed to build the RM40 billion HSR link, with seven stations planned nationwide.
According to Cheah, there will be a HSR station located in the centre of Gerbang Nusajaya, surrounded by Nusajaya Tech Park, Motorsports City and luxury residences.
UEM Sunrise plans to develop the station as a transit-oriented development together with the Land Public Transport Commission.
It will be an integrated mixedused development, featuring office and residential towers, a hotel, retail and commercial units, similar to the types found in Japan, South Korea, Singapore and Europe, he says.
UEM Sunrise, KLK plan RM20b projects
UEM Sunrise Bhd and Kuala Lumpur Kepong Bhd (KLK) are gearing up to launch two joint mixed property projects in Gerbang Nusajaya and Fraser Metropolis in Johor, with a combined gross development value (GDV) of RM20 billion, next year.
UEM Sunrise chief operating officer Raymond Cheah Ho Chee said the residential components would include homes for all segments of the market, ranging from affordable to high end, priced from RM500,000 to RM7 million.
The RM15 billion Fraser Metropolis project will be undertaken by UEM Land Bhd and KLK Land Sdn Bhd, subsidiaries of UEM Sunrise and plantation group KLK, respectively.
The project will comprise residential, industrial and commercial components on a 1,010ha site.
KLK Land executive director Datuk David Tan said the company was in the midst of finalising the urban design for Gerbang Nusajaya, which would feature a "beautiful resort environment".
"The development will be in two parts... the first being the parcel adjacent to the Ramsar reserve, to cater to demand for landed housing in an exclusive resort setting in a highly secured environment.
"The second will be a higher density low-rise development adjacent to the Motorsports City and the proposed high-speed rail (HSR) station.
"With the HSR link, the development will just get better and better. We hope to increase the plot ratio and density at the parcel facing the station. There will be a vibrant retail mall to complement the development," Tan told Property Times.
NUSAJAYA (Johor): URBAN development projects are expected to go beyond the fundamentals of maximising land and asset value. They must meet the requirements of tenants, users, communities and stakeholders, as well as generate value and employment in the economy, raise the quality of life and support community development.
Balancing these requirements require good design, strong overall planning, economic and financial modelling, clear-cut engineering and understanding of the development.
Listed developers in Malaysia have recognised that for a project to be successful, they should focus on integrated planning and infrastructure.
It is interesting to note that the largest urban integrated development in Southeast Asia lies in Johor's Nusajaya.
The 9,600ha Nusajaya will play a key role in shaping Iskandar Malaysia to become a sustainable metropolis of international standing by 2025.
Officially launched on February 15 2007, Nusajaya is one of the five flagship zones of Iskandar Malaysia - an economic corridor three times the size of Singapore.
Upon full completion, the region will provide significant investment, financial and business opportunities for economic growth and development in Johor.
From 2006 to 2014, total committed investment in Iskandar Malaysia stood at RM158 billion, with 35 per cent foreign-driven.
Top investors came from Singapore, China, Japan, Spain and the United Kingdom and they invested mainly in the education, tourism and healthcare sectors.
The master developer of Nusajaya is UEM Sunrise and landmark developments include Kota Iskandar, Puteri Harbour, EduCity Iskandar, Afiat Healthpark, Legoland Malaysia Resort, Southern Industrial Logistics and Clusters (SiLC), and Nusajaya residences.
UEM Sunrise chief operating officer, Raymond Cheah Ho Chee, says the company will be busy in Johor for a few years with the ongoing Phase 2 development of Nusajaya, known as Gerbang Nusajaya, attracting many Singaporean and Chinese investors.
The catalytic developments for the 1,800ha Gerbang Nusajaya include the 207.9ha Nusajaya Tech Park, which has a gross development value of RM3.7 billion (a joint venture between UEM Sunrise and Singapore's Ascendas Group), Motorsports City and the Asian Trade Centre.
Gerbang Nusajaya will also comprise developments such as Signature Residences, Gerbang Nusantara (affordable housing), as well as lifestyle and retail parks, campus offices and residential precincts.
"Nusajaya was off to a promising start a few years ago and now we are talking about growth that has taken place in a short span in Gerbang Nusajaya, which is the next big development for Johor.
"In Gerbang Nusajaya, besides catalytic projects, we will offer homes ranging from RM500,000 to RM7 million at Emerald Bay, so people from all walks of life can own a property here and enjoy the facilities and amenities," Cheah told Property Times.
The technology park will focus on delivering a built environment for a wide range of industries, such as electronics, pharmaceuticals and medical devices, food processing, precision engineering, fast-moving consumer goods, logistics and warehousing.
Motorsports City, launched in December 2012, is a joint venture between UEM Sunrise and FASTrack Autosports Pte Ltd, which is controlled by Singapore billionaire Peter Lim.
The RM3.5 billion project over 118ha will feature a 4.5km race track to host GT, go-kart and motorcycle races, and all kinds of racing outside of single-seat class races. It will also be the model automotive hub, comprising 4S (sales, services, spare parts and systems) centres, car showrooms, bonded warehouses, retail and al fresco spaces with food and beverage outlets.
Cheah says Nusajaya Tech Park is on track to completing its first batch of ready-built facilities by end of the year and has attracted flagship clients SANWA and Telekom Malaysia.
FASTrack is close to finalising the details for the commencement of physical construction works The Asian Trade Centre, which is akin to Dragon Mart in Dubai, will be developed over 48ha. UEM Sunrise's partner for this is Chinamall Holdings Pte Ltd.
The 1.4 million sq ft mall worth over RM600 million will house more than 3,000 merchants offering products ranging from textiles to jewellery.
Gerbang Nusajaya is located 5km from the Tuas Checkpoint via the Malaysia-Singapore Second Link with easy access to the Senai International Airport and Singapore's Changi International Airport.
Meanwhile, Cheah says Gerbang Nusajaya's gross development value of RM42 billion is expected to surpass the RM60 billion mark as it will be connected to the proposed high speed rail (HSR) link between Kuala Lumpur and Singapore, which will raise land and property prices.
Malaysia and Singapore have in principal agreed to build the RM40 billion HSR link, with seven stations planned nationwide.
According to Cheah, there will be a HSR station located in the centre of Gerbang Nusajaya, surrounded by Nusajaya Tech Park, Motorsports City and luxury residences.
UEM Sunrise plans to develop the station as a transit-oriented development together with the Land Public Transport Commission.
It will be an integrated mixedused development, featuring office and residential towers, a hotel, retail and commercial units, similar to the types found in Japan, South Korea, Singapore and Europe, he says.
UEM Sunrise, KLK plan RM20b projects
UEM Sunrise Bhd and Kuala Lumpur Kepong Bhd (KLK) are gearing up to launch two joint mixed property projects in Gerbang Nusajaya and Fraser Metropolis in Johor, with a combined gross development value (GDV) of RM20 billion, next year.
UEM Sunrise chief operating officer Raymond Cheah Ho Chee said the residential components would include homes for all segments of the market, ranging from affordable to high end, priced from RM500,000 to RM7 million.
The RM15 billion Fraser Metropolis project will be undertaken by UEM Land Bhd and KLK Land Sdn Bhd, subsidiaries of UEM Sunrise and plantation group KLK, respectively.
The project will comprise residential, industrial and commercial components on a 1,010ha site.
KLK Land executive director Datuk David Tan said the company was in the midst of finalising the urban design for Gerbang Nusajaya, which would feature a "beautiful resort environment".
"The development will be in two parts... the first being the parcel adjacent to the Ramsar reserve, to cater to demand for landed housing in an exclusive resort setting in a highly secured environment.
"The second will be a higher density low-rise development adjacent to the Motorsports City and the proposed high-speed rail (HSR) station.
"With the HSR link, the development will just get better and better. We hope to increase the plot ratio and density at the parcel facing the station. There will be a vibrant retail mall to complement the development," Tan told Property Times.
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