Ascendas Land International, a Singapore government-linked company, has set up a joint venture with Malaysia's UEM Land Berhad to develop an integrated eco-friendly tech park in Nusajaya.
Nusajaya is one of the five flagship zones in Johor's Iskandar Malaysia.
The integrated tech park will be located at Gerbang Nusajaya within the Nusajaya regional city.
Ascendas and UEM Land will hold 60% and 40% stakes in the joint venture respectively. The projected investment value is $1.5 billion.
The 519-acre freehold tech park is the closest industrial site to Malaysia-Singapore Second Link checkpoint and directly accessible by a comprehensive network of main roads and highways to major international airports and seaports.
The proposed development is expected to take place in three phases over nine years with the launch of Phase One targeted in the last quarter of 2013.
When fully completed, it is expected to host a business community of over 34,000 people.
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