I guess she can't bear to miss this one.
http://www.bernama.com/bernama/v5/newsbusiness.php?id=597200
June 27, 2011 22:28 PM
Khazanah And Temasek To Develop Land In Singapore And Iskandar Malaysia
KUALA LUMPUR, June 27 (Bernama) -- Khazanah Nasional Bhd and Temasek Holdings (Private) Ltd will establish joint venture companies, M+S Pte Ltd and Pulau Indah Ventures Sdn Bhd, to respectively develop land parcels in Singapore and undertake projects in Iskandar Malaysia in Johor.
These joint developments were supported by Malaysian Prime Minister Datuk Seri Najib Tun Razak and his Singapore counterpart Lee Hsien Loong in their Joint Statements of May 24, 2010, June 22, 2010, September 20, 2010 and June 27, 2011, a statement from Khazanah and Temasek said here Monday.
Owned 60:40 by Khazanah and Temasek respectively, M+S will develop four land parcels in Marina South and two land parcels in Ophir Rochor, each as an integrated development.
An indirect wholly-owned subsidiary of UEM Land Holdings Bhd, a real estate company within Khazanah's portfolio, and an indirect wholly-owned subsidiary of Mapletree Investments Pte Ltd (Mapletree), a Temasek portfolio company, have been appointed to oversee the marketing and development of the project at Marina South, said the joint Khazanah and Temasek statement.
For the Ophir-Rochor site, UEM Land and an indirect wholly-owned subsidiary of CapitaLand Limited, another Temasek portfolio company, have been appointed to oversee the marketing and development, they said.
Khazanah and Temasek are both committed to the successful commercialisation of these land parcels, which will include office, residential, hotel and retail components.
The gross development value of the project with a permitted gross floor area (Permitted GFA) of up to 501,020 sqm is estimated at approximately S$11 billion (RM27 billion), subject to design and development plans.
Meanwhile, Pulau Indah, a 50:50 joint venture between Khazanah and Temasek, will develop projects in Iskandar Malaysia in Johor.
Khazanah and Temasek have worked together since last May to identify suitable sites in Iskandar Malaysia for joint commercial development.
Two sites, one in Medini North and the other at the Heritage Cluster in Medini Central, have been confirmed, they said.
Pulau Indah intends to develop serviced apartments, a corporate training centre, and commercial, retail, residential and wellness-related offerings on these sites, they said.
Khazanah and Temasek are currently in discussions and negotiations with potential partners and operators for the various components to maximize the commercial potential of the location.
The gross development value of the Iskandar project with a Permitted GFA of up to 1,365,675 sqm is estimated at approximately RM3 billion, subject to design and development plans.
Planning and design works for the projects had commenced in first quarter of 2011.
With the signing of these agreements today, the projects will move towards design and further implementation and delivery of the initial phases over the next five years.
Khazanah's Managing Director, Tan Sri Azman Mokhtar, said: "We are honoured to be undertaking these exciting developments at these key sites in Singapore and Iskandar Malaysia with our counterparts from Singapore, Temasek Holdings."
The development in Iskandar with Temasek will be highly complementary and builds on the momentum of existing and planned projects in Iskandar Malaysia, in which Khazanah has been involved since 2006.
--BERNAMAgl
http://www.bernama.com/bernama/v5/newsbusiness.php?id=597200
June 27, 2011 22:28 PM
Khazanah And Temasek To Develop Land In Singapore And Iskandar Malaysia
KUALA LUMPUR, June 27 (Bernama) -- Khazanah Nasional Bhd and Temasek Holdings (Private) Ltd will establish joint venture companies, M+S Pte Ltd and Pulau Indah Ventures Sdn Bhd, to respectively develop land parcels in Singapore and undertake projects in Iskandar Malaysia in Johor.
These joint developments were supported by Malaysian Prime Minister Datuk Seri Najib Tun Razak and his Singapore counterpart Lee Hsien Loong in their Joint Statements of May 24, 2010, June 22, 2010, September 20, 2010 and June 27, 2011, a statement from Khazanah and Temasek said here Monday.
Owned 60:40 by Khazanah and Temasek respectively, M+S will develop four land parcels in Marina South and two land parcels in Ophir Rochor, each as an integrated development.
An indirect wholly-owned subsidiary of UEM Land Holdings Bhd, a real estate company within Khazanah's portfolio, and an indirect wholly-owned subsidiary of Mapletree Investments Pte Ltd (Mapletree), a Temasek portfolio company, have been appointed to oversee the marketing and development of the project at Marina South, said the joint Khazanah and Temasek statement.
For the Ophir-Rochor site, UEM Land and an indirect wholly-owned subsidiary of CapitaLand Limited, another Temasek portfolio company, have been appointed to oversee the marketing and development, they said.
Khazanah and Temasek are both committed to the successful commercialisation of these land parcels, which will include office, residential, hotel and retail components.
The gross development value of the project with a permitted gross floor area (Permitted GFA) of up to 501,020 sqm is estimated at approximately S$11 billion (RM27 billion), subject to design and development plans.
Meanwhile, Pulau Indah, a 50:50 joint venture between Khazanah and Temasek, will develop projects in Iskandar Malaysia in Johor.
Khazanah and Temasek have worked together since last May to identify suitable sites in Iskandar Malaysia for joint commercial development.
Two sites, one in Medini North and the other at the Heritage Cluster in Medini Central, have been confirmed, they said.
Pulau Indah intends to develop serviced apartments, a corporate training centre, and commercial, retail, residential and wellness-related offerings on these sites, they said.
Khazanah and Temasek are currently in discussions and negotiations with potential partners and operators for the various components to maximize the commercial potential of the location.
The gross development value of the Iskandar project with a Permitted GFA of up to 1,365,675 sqm is estimated at approximately RM3 billion, subject to design and development plans.
Planning and design works for the projects had commenced in first quarter of 2011.
With the signing of these agreements today, the projects will move towards design and further implementation and delivery of the initial phases over the next five years.
Khazanah's Managing Director, Tan Sri Azman Mokhtar, said: "We are honoured to be undertaking these exciting developments at these key sites in Singapore and Iskandar Malaysia with our counterparts from Singapore, Temasek Holdings."
The development in Iskandar with Temasek will be highly complementary and builds on the momentum of existing and planned projects in Iskandar Malaysia, in which Khazanah has been involved since 2006.
--BERNAMAgl
