Published: Wednesday February 6, 2013 MYT 11:21:00 AM
Singapore's Link (THM) Holdings plans RM2.5b project in Medini Iskandar
KUALA LUMPUR: Singapore's privately-owned property group Link (THM) Holdings Pte Ltd is buying 14.60 acres (5.9ha) of land in Medini Iskandar and plans a mixed development project with a gross development value of S$1bil (RM2.5b).
It said on Wednesday it would acquire the land from from Global Capital & Development, the concession holder of Medini Iskandar. The lead shareholders include Iskandar Investment Berhad and Mubadala, the Abu Dhabi Government investment company.
"Link (THM) will turn the land into a development of mixed properties that is expected to be completed in three phases over a period of five years," it said, adding the project would be known as Media Village @ Medini Iskandar.
Link (THM) said the development site was at the entrance of UK's film-making firm Pinewood Studios, and within the vicinity of Legoland, Hello Kitty and EduCity.
Once completed in 2018, there will be more than 2,000 small office home office units and business suites of 1.2 million square feet of net saleable area.
The commercial properties consist mainly of food and beverage outlets will take up 1.1 million square feet of net lettable area.
For the residential component, Link (THM) plans to build seven 25- to 35-storey tower blocks.