Iskandar Investment Berhad through the subsidiary of River Retreat Sdn Bhd has been involved in the potential development of 3,746 units of affordable housing for the M40 group through a strategic collaboration with Perbadanan Kemajuan Perumahan Negeri Johor (PKPJ), Permodalan Darul Ta’zim (PDT) and Eco World Development Group Berhad (EcoWorld).
Earlier today ( 18 January) Eco World announced that it will be acquiring land from IIB for the development of affordable homes for the M40 segment of the market. This comes as PDT is joining forces with Eco Botanic 3 Sdn Bhd, a wholly owned subsidiary of EcoWorld, to develop affordable homes for the M40 group that offer quality lifestyle.
“As we approach the goal of reaching a living and working population of 600,000 by 2030, we have strong confidence that this project will not only contribute to achieving population growth but als serve as a catalyst for increased investments in Iskandar Puteri, thereby elevating the socio- economic standing for Johor,” said Dato’ Idzham Mohd Hashim, President / CEO of IIB.
The importance of the middle-income population and the talent within this segment is also recognised in the recently inked Johor-Singapore Special Economic Zone (JS-SEZ) Memorandum of Understanding. IIB’s role as a critical catalyst and strategic developer within Iskandar Puteri’s Flagship Zone B is becoming more emphatic with this historic initiative between Malaysia and Singapore. The Government’s initiative is set to drive foreign investments and accelerate economic growth in Iskandar Puteri, with a strong solid commitment to fostering economic inclusion.
The JS-SEZ rides on the strong solid growth of Johor and significant investments in the region by Singapore. Johor recorded RM70.6 billion worth of investments in 2022 alone, across various sectors.