2015 will see UEM Sunrise, one of the main developers of Iskandar, diving headlong into work planed out for Johor that will include a number of catalytic projects in the Nusajay area. This includes Gerbang Nusajaya’s ground-breaking ceremony for Motorsports City.
Having a $15 billion (RM 40 billion) gross development value, Gerbang Nusajaya’s 1,800 hectares consists of residential precincts, industrial parks, campus offices, and retail and lifestyle parks. All of this will be constructed over a span of 25 years in 5 phases.
Westwood Residences Executive Condominium
Chiefly, Motorsports City, with its S$1.32 billion (RM3.5 billion) price tag and 118 hectare area, will bring with it a 4.5km racing track that will be able to host International races. The site will also offer a model automotive nerve centre, which will have F&B outlets, auto showrooms, bonded warehouses, retail units, and al fresco areas. It will also provide centres which will be dedicated to the services, sales, systems and spar parts of a variety of autos. This may in turn affect Westwood Residences EC Sales due to the demand for foreign properties.
A second ground breaking project set of 2015 will be an integrated technology park in Nusajaya consisting of 207.6 hectares. The joint venture development with Singapore’s Ascendas Group is valued at S$1.4 billion (RM3.7 billion).
Westwood Residences EC Koh Brothers
According to Anwar Syahrin, CEO and Managing Director of UEM, 2015 looks to be an exciting year for Johor. He points out that there is another exciting development to come, China Mall, which is the Asian Trade Centre. It is very similar to Dubai’s Dragon Mart. The Asian Trade Centre will be constructed and developed over a 48 hectare site. At the moment UEM is awaiting approval from the relevant authorities.
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Having a gross development value of over $225 million (RM600 million), this mall/trade centre will be able to house more than 3,000 retailers and covers a 1.4 million square foot area.
Syahrin has said that UEM are aiming to not just create homes in the Gerbang Nusajaya area, but create a lifestyle and activities for residents. All of these developments are worth billions of Malaysian ringgits and will be able to provide new job opportunities, as well as economic activity that will be a catalyst for the demand for new housing in the Nusajaya area for Westwood Residences. Nusajaya is in a stage of maturity and is anticipated to be a top locational choice for playing, working and living for the international community and local residents alike, as well as it being a city that is self-sustained.
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At this time there are around 10,000 properties which have been built already or are in the process of being constructed in Nusajaya that are valued at close to $3.75 billion (RM10 billion). Nusajaya is an area that has an estimated gross development value of $9 billion (RM24 billion)