Tuesday, 9 July 2013

Iskandar Investment inks 2 property deals with GDV of RM4.6bn

Iskandar Investment Bhd (IIB) has sealed two property deals in Iskandar Malaysia worth a combined RM4.6bn in gross development value with private companies. The larger of the two projects involves a joint venture between IIB and Mammoth Empire Holdings Sdn Bhd, which owns Empire Subang and Empire City in Petaling Jaya, to develop Medini Empire, they told the media on in a briefing. The RM4bn Medini Empire is a mixed development comprising office towers, hotels, service apartments, loft offices, retail space, a convention centre, a concert hall and a cinema, set for completion in 2018. IIB - an arm of Khazanah Nasional and the Johor state government that facilitates investments into the state's economic corridor - owns 40% of Medini Empire and Mammoth Empire the remaining 60%. (Starbiz)

Source: CIMB Daybreak - 09 July 2013

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