Iskandar Malaysia, the much awaited visionary Malaysia property development in Johor, is anticipated to become a “self-sustaining region” before 2025. Datuk Ismail said “We are confident of achieving total target of about RM383bil when the economic growth corridor reaches maturity in 2025 based on Iskandar Malaysia’s annual growth of between 7% and 8%,” The Star reports. Iskandar recently celebrated its 10th year of progress towards reaching its goals.
Steady progress towards an ideal metropolis
Iskandar stands by its three foundations: Equitable and fair distribution among stakeholders, growth and value creation, and nation building. On these three foundations also stand the five pillars: International rim positioning, economic drivers and catalyst projects, socio-economic equity, institutional framework & regulatory authority, infrastructure enablers. With a strong foundation and hopeful vision, slowly but surely, Iskandar has started to take steps towards its expected development.
From just RM 11.30 billion in 2006, committed investments have reportedly reached RM 218. 84billion.
The new office of Iskandar’s governement
Ten years of milestones
It was 2006 when the comprehensive development plan for Iskandar was first revealed. Since then, investors have been scouring the area for Malaysia real estate investment opportunities whether for personal, business, or commercial use. Many Malaysia property developers have also partnered with international developers to create more Malaysia homes in the area as the city continued to progress.
Several international schools now reside in Iskandar like Netherlands Maritime Institute of Technology, Newcastle University Medicine Malaysia, and University of Southampton Malaysia.
International companies have also sought out Malaysia property investment opportunities in the area. The Hershey Company proposed an RM 816million investment for a confectionery plant. Also, the entertainment Johor property Legoland waterpark and hotel was completed in 2014. With all the companies putting their seeds of investment here, nearly 700, 000 jobs have already been created in Iskandar.
In an interview, Jodie George, president of the International Women’s Association of Johor Bahru, said “Iskandar Malaysia is not your typical city because of the emphasis it places on the human aspect of things. It is not just about transforming the city into an unrecognisable metropolis, but the development of the entire region is very much anchored on human relations, building a sustainable and quality family environment while catering to the lifestyle needs of a developed city”.
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