Medini sees demand from
SMEs
KUALA LUMPUR: There is a clear demand
from small and medium enterprises, particularly from Singapore, for affordable
space in Medini Iskandar, said Medini concession holder Global Capital &
Development (GCD) chief executive officer Keith Martin.
This is not only a positive driver for
development at Medini, Iskandar Malaysia but will also spur the growth of the
Malaysian economy as it enters the list of high-income nations.
He
said that GCD's next focus is to further engage in discussions with business
park operators on opportunities to fund an SME business park for a wide range
of business sectors and services.
GCD, he said, is seeing more investors,
especially from Singapore, who are showing a keen interest in buying the three
segments or development zones of Medini, namely Medini Business, Medini Living
and Medini Lifestyle.
Recently,
Medini got a further boost of S$1 billion (RM2.5 billion) investment from
Singapore property developer Link Holdings Pte Ltd to develop the Media Village
@ Medini Iskandar.
Martin
said Singaporean investors' interest in the development of Iskandar Malaysia is
expected given its proximity with Singapore, which is just a 40-minute drive
from Singapore's Central Business District via the Tuas second link, and its
good transport links with Kuala Lumpur.
"We also see the development of
Medini as being complementary to both Singapore's growth and an expansion
opportunity for Malaysian companies based in Kuala Lumpur," he said in an
email interview.
He said Singapore and Kuala
Lumpur-based companies can enjoy a cost-effective blended solution and dual
platform for business, one in Medini where they can expand and base their
support services given the more affordable business and living space; and the
other in Singapore or Kuala Lumpur.
Martin
said for Singapore-based companies, this may be a suitable option, especially
in light of concerns expressed about the rising business costs and tightening
of foreign manpower policy in the country as well as the recent property
cooling measures deployed by the Singapore government.
"In
this way, we see opportunities for future joint benefits and regional growth
prospects for both Malaysia and Singapore."
Martin
said GCD is committed to continue partnering quality investors to transform
Medini into a destination city of global significance.
To
date, GCD has secured a sizeable amount of committed investments in Medini.
Iskandar Malaysia had until December last year recorded total cumulative
investment of RM105.14 billion, exceeding the initial target of RM10 billion.
Source:
Business Times
Date:
18 Feb 13
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