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China's Greenland Plans To Invest RM3 Billion In Danga Bay
A delegation from Greenland was in Johor Baharu today to finalise a major land deal with Iskandar Waterfront Holdings (IWH).
Greenland, which was ranked 359 in the Fortune Global 500 company survey last year, is reportedly keen to acquire about 60 hectares in IWH.
"Greenland's forte is in mixed commercial development, including high-end hotels and residential towers.
"We expect them to bring their expertise and market knowledge to help build world-class waterfront properties in Danga Bay," said IWH Executive Director Lim Chen Herng in a statement today.
Meanwhile, IWH Managing Director Tan Sri Lim Kang Hoo said to date 16 local and foreign investors have joined hands with IWH to develop properties with a cumulative gross development value of RM125 billion.
In addition, several major investors from India, Japan, South Korea, the Philippines and Indonesia are also negotiating with IWH for land deals for large-scale real estate developments in Danga Bay.
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