JOHOR BARU: UEM Sunrise Bhd yesterday unveiled development plans for its flagship B (Zone B) parcel in Iskandar Malaysia, which has a gross development value (GDV) of RM42 billion.

Called Gerbang Nusajaya, Zone B is designed to promote growth via catalytic developments and strategic partnerships, said UEM Sunrise (fundamental: 1.5; valuation: 2) managing director and chief executive officer Anwar Syahrin Abdul Ajib. 

“The unveiling of the comprehensive plans for Gerbang Nusajaya today (yesterday) shows the vast potential that the area has to offer. As the master developer for Nusajaya, we are delighted to be working with our strategic partners to firmly establish Gerbang Nusajaya as the key gateway to Iskandar Malaysia,” he told a press conference at its Puteri Harbour sales gallery in Nusajaya yesterday.

To be developed over 25 years, the 4,551-acre (1,841.7ha) development will serve as a commercial and business engine for Nusajaya and marks another milestone for the property developer.

“The Gerbang Nusajaya development is the new catalyst that will spearhead the next wave of growth in Iskandar Malaysia,” DTZ Malaysia executive director Brian Koh said.

Gerbang Nusajaya will comprise developments such as Nusajaya Tech Park (519 acres of integrated eco-friendly technology park), FASTrack Iskandar (a 300-acre motorsports city), Signature Residences, Gerbang Nusantara (affordable housing), as well as lifestyle and retail parks, campus offices and residential precincts.

The development is located 5km from the Tuas Checkpoint via the Malaysia-Singapore Second Link with easy access to the Senai International Airport and Singapore’s Changi International Airport.

Gerbang Nusajaya is expected to create 76,000 direct job offerings, 137,000 indirect job offerings and an estimated population of 220,000 upon completion. 

Also present at the event were strategic partners for Nusajaya — KLK Land Sdn Bhd executive director Datuk David Tan, Ascendas Southeast Asia chief executive officer William Tay, Ascendas Services (Malaysia) Pte Ltd executive director Dacon Pao, and FASTrack (Iskandar) Sdn Bhd directors Barry Kan and Tan Wee Han.

This article first appeared in The Edge Financial Daily, on April 9, 2015.