The prime minister of Singapore and the prime minister of Malaysia, PM Lee, PM Najib have met for the launch of three projects in Johor. The first two projects will be focusing on wellness and the third project will be focusing on joint development.
Just after the launch of a joint development project in Singapore, both the prime ministers travelled to Johor Bahru for unveiling the two wellness developments.
Afiniti Medini is an urban wellness project. The aim of the project is to become a regional destination for families, professionals and tourists. Its features include: service apartments, wellness centre, corporate retail space and training centre. The completion of Afiniti Medini is expected by the end of 2015.
Avira, another wellness project, is launched by both the leaders. It is launched at Medini Central. This project will have homes, commercial spaces and serviced apartments. This developmental project is estimated to get over by 2018. Khazanah Nasional and Temasek Holdings have developed these two projects jointly.
Medini comes under the five flagship zones present in Iskandar Malaysia. Central Business District takes 40-minute to drive from Medini.
The total gross development value of the projects together is expected to be up to 3 billion RM. Project Iskandar, which succeeded beyond the original plans, was acknowledged by PM Najib. Many companies from Singapore have had increased investments in that project.
PM Lee commented that the Malaysian government showed commitment and a drive for the development of Iskandar in Malaysia.
A 3.2 billion RM mixed development project is launched in Danga Bay, Johor. Causeway is a 20-minute drive from this place. This is a joint venture project between the two nations. Here, both the prime ministers witnessed a signing ceremony. It was for the Memorandum of understanding. The ceremony was held by Iskandar Waterfront, Capitaland and Temasek Holdings.
A joint development between the 2 nations to build an express rail service that will take a mere 90 minutes to reach KL from Singapore was also unveiled. With much development going on involving the 2 governments and with much media coverage, more local investors are being drawn in to snap up property in the region.