Malaysia’s UEM Sunrise and Singapore’s commercial property landlord Ascendas broke ground for the integrated technology park, Nusajaya Tech Park at Gerbang Nusajaya today.
The projected gross development value is RM3.7 billion and the first phase of this integrated technology park is expected to be completed in 2016. Ascendas will have a 60 per cent stake in the project with UEM accounting for the other 40 per cent.
Spanning 210 hectares, the integrated technology park will comprise ready-built facilities and land plots for build-to-suit developments. According to the developers, the development will be in three phases over nine years. In the start-up phase, the park has received 40 per cent pre-commitment for its ready-built facilities. The integrated tech park is expected to support 200 enterprises when fully completed.
The ground-breaking ceremony was officiated by Singapore Trade and Industry Minister Lim Hng Kiang and Malaysia Minister of International Trade and Industry Datuk Seri Mustapa Mohamed.
“Iskandar Malaysia is strategically important for both Malaysia and Singapore. It not only contributes to greater cooperation between the two countries but also the integration of both economies. We have and will continue to jointly develop industries with synergistic activities in both Malaysia and Iskandar Malaysia.”
“Singapore companies should seeking to venture overseas and consider Iskandar Malaysia as an option,” said Lim.