Medini concessionaire seeks funds for SME biz park

PETALING JAYA (Feb 8, 2013): Global Capital & Development (GCD), which on Wednesday sold a 5.9ha piece of land in Medini Iskandar, Johor to Singapore's Link (THM) Holdings Pte Ltd, is calling on business park operators to invest in a business park for small and medium enterprises in Medini.

Source from (The Sun Daily): http://www.thesundaily.my/news/608878
Published: February 08, 2013

"Our next focus will be to hold further conversations with business park operators on opportunities to fund a SME business park (in Medini) for a wide range of business sectors and services," said GCD CEO Keith Martin in a statement yesterday.

"There is a clear demand, particularly from Singapore companies, to seek affordable support space in Medini. We believe this is not only a positive driver for development at Medini but also a positive contributor to the Singapore growth story," he added.

"GCD is committed to continue partnering quality investors to transform Medini into a destination city of global significance."

GCD, whose shareholders include Khazanah Nasional Bhd and Abu Dhabi's Mubadala, is the concession holder tasked with the development of Medini.

In an earlier statement, Link (THM) said it will turn the 5.9ha piece of land in Medini into a development of mixed properties that is expected to be completed in three phases over five years.

Dubbed "Media Village@Medini Iskandar", its gross development value is in excess of RM2.5 billion, which is in the form of progressive payments of the land price.

Link (THM), renowned for its boutique projects in Singapore. is the first privately-owned Singapore property company to solely commit to a massive property project in Medini Iskandar.

"Once completed in 2018, there will be more than 2,000 units of small office home office and business suites of 1.2 million sq ft of net saleable area, while the commercial properties consisting of mainly food and beverage outlets will take up 1.1 million sq ft of net lettable area" said Link (THM) founder and group CEO Kenny Tan.

For the residential component, the company plans to build seven 25- to 35-storey tower blocks.

The media village cluster is designed to support nearby Pinewood Studio, a US$150 million (RM464 million) film and television production facility that is projected to create over 3,000 jobs.