- Singapore, 23 October 2012 – Asia’s leading business space solutions provider Ascendas
Land International Pte Ltd (“Ascendas”) has entered into a joint venture agreement with
UEM Land Berhad, a wholly-owned subsidiary of UEM Land Holdings Berhad (“UEM Land”)
to develop an integrated eco-friendly tech park in Nusajaya, one of the five flagship zones in
Johor’s Iskandar Malaysia. Ascendas and UEM Land will hold 60% and 40% stakes in the
joint venture respectively.
- Singapore’s Senior Minister of State, Mr Lee Yi Shyan, Ministry of Trade and Industry and
Ministry of National Development, and Malaysia’s Dato’ Sri Mustapa Mohamed, the Minister
of International Trade and Industry, graced the signing ceremony today.
- Ms Chong Siak Ching, President & CEO of Ascendas, said, “We are excited to be involved
in one of the largest and most ambitious development projects in Southeast Asia. This joint
venture extends our presence in Malaysia and offers an opportunity to share our experience
in building environmentally-friendly integrated business space with vibrant work-live-play
elements that Ascendas is renowned for.”
- With a projected investment value of S$1.5 billion (RM3.7 billion), the integrated tech park is
located at Gerbang Nusajaya within the Nusajaya regional city in Iskandar Malaysia. The
519-acre freehold tech park is the closest industrial site to Malaysia-Singapore Second Link
checkpoint and directly accessible by a comprehensive network of main roads and highways
to major international airports and seaports.
- ”UEM Land sees this joint venture as an important and timely milestone as it kicks start the
second wave of catalytic projects to be introduced and implemented post Nusajaya’s 2012
Tipping Point. We are excited to work with Ascendas on this project and are confident that
this project will further cement Nusajaya’s position as a desired destination for strategic
investment as well as for leisure and recreation,” said Dato’ Wan Abdullah Wan Ibrahim,
Managing Director/Chief Executive Officer of UEM Land.
- The fully-landscaped park will offer quality infrastructure to support a range of industries
such as electronics, pharmaceutical & medical devices, food processing, precision
engineering, fast moving consumer goods (FMCGs), logistics & warehousing and general
engineering services as well as land plots for customized facilities. Supporting lifestyle and
social amenities include training facilities and dormitories, F&B outlets, fitness and sports
and retail facilities.
- The proposed development is expected to take place in three phases over nine years with
the launch of Phase 1 targeted in the last quarter of 2013. When fully completed, it is
expected to host a business community of over 34,000 people.
- The Nusajaya flagship zone is a key component of Iskandar Malaysia with 24,000 acres of
development-ready land. It is expected to be the hub for identified sectors and industries
such as Government, tourism and leisure, education, creative, healthcare and wellness,
business and industry, commerce and finance as well as property and infrastructure,
supporting a projected population size of 500,000 by 2025.
- The proposed integrated eco-friendly tech park complements the existing Southern Industrial
and Logistics Custers (“SiLC”), the 1,300-acre ‘green’ and ‘clean’ fully managed industrial
park which houses Malaysia’s first dedicated biotechnology park known as Bio-XCell.
About Ascendas Group (www.ascendas.com)
Ascendas is Asia’s leading provider of business space solutions with more than 30 years of experience. Based in Singapore, Ascendas has built a strong regional presence and serves a global clientele of over 2,400 customers in 25 cities across 10 countries including Singapore, China, India, South Korea and Australia.
Ascendas specialises in masterplanning, developing, managing and marketing IT parks, industrial & logistics parks, business parks, science parks, hi-tech facilities, office and retail spaces. Leveraging on its track record and experience, Ascendas has introduced new business space concepts such as integrated communities and solutions which seamlessly combine high-quality business, lifestyle, retail and hospitality spaces to create conducive human-centric work-live-play-learn environments. Its flagship projects include the Singapore Science Park and Changi City at Changi Business Park in Singapore, International Tech Park Bangalore in India and Ascendas-Xinsu in Suzhou Industrial Park, China. Ascendas provides end-to-end real estate solutions, assisting companies across the entire real estate process.
In November 2002, Ascendas launched Singapore’s first business space trust, Ascendas Real Estate Investment Trust (A-REIT), and in August 2007, Ascendas India Trust (a-iTrust) was launched as the first listed Indian property trust. In July 2012, Ascendas listed Ascendas Hospitality Trust (A-HTRUST), which comprises a portfolio of quality hotels in Australia, China, Japan and Singapore. Besides managing listed real estate funds, Ascendas also manages a series of private funds with commercial and industrial assets across Asia.