Iskandar Waterfront City Berhad with a landbank of approximately 1000 acres of freehold land is announcing a strategic master development plan for the next 10 years. The company’s development pipeline includes the phased development of 146 acres, with a total Gross Development Value of RM4.3 billion.
These developments it said will be strategically located near the Bukit Chagar RTS Station and JB City Center, capitalising
on their proximity to key transportation hubs and urban centres. One of the flagship projects in the pipeline is Danga Rivera, a mixed waterfront development in the mature area of Permas Jaya. This project will feature shop offices, retail spaces, hotels, and service suites, with an expected GDV of RM500 million.
The company has signed a MOU with Meliá Hotels International S.A., as part of its development plan.
Another highlight of the development plan is Tebrau Bay, a waterfront township located at the serene river mouth of Sungai Tebrau. Focused on health and wellness, this development spans 100 acres and is poised to offer quality waterfront living. Located just 15 minutes from the RTS Bukit Chagar Station, Tebrau Bay is expected to generate a total GDV of RM 3.5 billion in several phases, starting with a pilot phase of 30 acres. Additionally, IWCITY is developing Danga Heights, a vibrant mixed-use project with a focus on retail. This development, spanning 29.3 acres, will feature 2-storey plus mezzanine shop
offices in its first phase, with an expected GDV of RM330 million.
The first phase of the three key development projects is expected to generate a total GDV of RM1.8 billion by developing approximately 63 acres over the next five years.
