NUSAJAYA | Johor ( Iskandar Development Region ) | General News & Updates

[rizalhakim]

UEM Land-Damac deal off
Written by Fong Min Hun
Wednesday, 17 June 2009 18:46

KUALA LUMPUR: Damac Properties (M) Sdn Bhd, which is part of Dubai’s Damac Group, has pulled out of a deal with UEM Land Holdings Bhd to acquire a piece of land for RM396.44 million in Nusajaya, Iskandar Malaysia.

UEM Land said on June 17 it received notification on Tuesday that Damac would not be interested in further extending the sales and purchase agreement (SPA), which was signed on June 12 last year.

It told Bursa Malaysia that under the terms of the SPA, the period to fulfil the condition would expire 12 months from the date of the SPA unless extended by mutual agreement by both parties.

“The parties had been in discussions on certain issues relating to the conditions precedent and a possible extension of the extended approval period. However, on Tuesday, UEM Land received notification stating that they are not agreeable to further extension of the extended approval period,” it said.

UEM Land said the SPA relating to the proposed disposal had lapsed and was of no further effect.

The proposed acquisition, if it had gone through, would have resulted in the development of an integrated waterfront development consisting of residential, commercial, retail, dining and leisure facilities.

Damac’s pullout marked the first time that a potential investor in Iskandar Malaysia has pulled out of a deal from the designated economic zone.

The announcement confirmed market talk over the past few months that Damac was no longer interested in the Iskandar development. This was despite statements by UEM Land that Damac was still keen in the project.

To recap, UEM World Bhd had signed the SPA with Damac in June 2008 to dispose of a 17.42-hectare parcel of land in Puteri Harbour, Iskandar Malaysia. The deal was entered into before UEM’s corporate restructuring, which saw UEM Land take over UEM World’s listing status.

The plan then was to accelerate development in Nusajaya and in particular, in Puteri Harbour. One of UEM Land’s strategies was to partner with reputable property developers, such as Damac Group, to develop selected strategic land parcels within Nusajaya.

The proposed disposal would allow UEM Land to bring not just an investor with extensive financial resources, but one of leading international developers of luxury waterfront projects with proven track record and strong market following, to develop a signature world-class waterfront development.

Damac, at the time, was bullish on taking up and developing a parcel of land at Puteri Harbour. This was before the Dubai property bubble burst. Damac was one of the developers caught in the maelstorm, and was forced to dispose of its international ventures elsewhere.

During the heydays, Damac Group had grown into one of the most successful residential, leisure and commercial developers in Dubai and the Middle East, and is expanding rapidly into North Africa, Jordan, Lebanon, Qatar, Saudi Arabia and the Far East.

Its current project portfolio as at June last year included development properties of over 450 million sq ft worth in excess of US$30 billion (RM105.9 billion). Damac Group was then the name behind some of the most distinguished residential and commercial projects in Dubai.

[rizalhakim]

The EduCity development within Nusajaya will feature local institutions as well as programs from such international schools as Carnegie Mellon University and the University of Newcastle

[rizalhakim]

Nusajaya Mosque
under construction???

image hosted on flickr


image hosted on flickr


image hosted on flickr

[nazrey]

No Problem Finding New Buyers For Nusajaya Land
June 23, 2009 21:06 PM

PETALING JAYA, June 23 (Bernama) -- Finding new buyers for land in Puteri Harbour, Nusajaya following the lapse in agreement with Dubai-based developer, Damac Properties Sdn Bhd, is not a problem.

Khazanah Nasional Bhd managing director, Tan Sri Azman Mokhtar, said the location was strategic and hence attracting new investments was not an issue.

"Damac's withdrawal is not a major issue, it's a small part of the investment in Iskandar Malaysia," he told reporters after the ceremony to sign licensing agreement between Rakan Riang Sdn Bhd and KidZania S.A de C.V here Tuesday.

Rakan Riang is a joint-venture company between Khazanah and Boustead Holdings Bhd.

Azmand said this when asked on talks that the lapse in the deal was due to slow infrastructure development and red tape.

Recently, UEM Land, a subsidiary of UEM World Bhd, announced that its sales and purchase agreement with Damac for the sale of approximately 17.416 hectares in Puteri Harbour has lapsed.

UEM Land had signed the deal with Damac for RM396 million cash.



-- BERNAMA

[nazrey]

RM49 juta laksana ladang satelit di Johor
26 Jun 2009 / 3 Rejab 1430

NUSAJAYA 25 Jun - Kerajaan negeri menerima peruntukan sebanyak RM49 juta bagi melaksanakan projek ladang satelit di bawah program pembangunan fidlot negara yang dikendalikan Perbadanan Fidlot Nasional (NFC).

Pengerusi Jawatankuasa Pertanian dan Industri Asas Tani negeri, Abdul Aziz Kaprawi berkata, projek itu bertujuan meningkatkan hasil ternakan lembu dan mengurangkan penggantungan terhadap daging import.

Beliau berkata, projek ladang satelit itu dijalankan di kawasan projek Tanaman Kekal Pengeluaran Makanan (TKPM) di tiga daerah di negeri ini dengan jumlah peserta seramai 21 orang.

"Kawasan yang dipilih adalah di TKPM Lubuk Bakul dan Ulu Bakri di Muar, TKPM Bangas dan Peta Temalik di Segamat serta TKPM Bukit Keruing di Kota Tinggi," katanya.

Beliau berkata demikian menjawab soalan Datuk Samsol Bari Jamali (BN-Semarang) pada persidangan Dewan Undangan Negeri (DUN) di Kota Iskandar di sini hari ini.

Abdul Aziz berkata, para peserta projek satelit itu dipilih daripada peserta TKPM sedia ada dengan masing-masing diperuntukkan kawasan seluas kira-kira lapan hektar.

Katanya, 0.8 hektar diperuntukkan untuk membina kemudahan infrastruktur dan selebihnya ditanam rumput berprotein tinggi 'pastura' yang akan menjadi makanan lembu.

Menurutnya, sehingga Mei lalu, daripada keseluruhan peruntukan yang diberikan, sebanyak RM4 juta telah dibelanjakan dengan status pelaksanaan fizikal antara 16 hingga 23 peratus.

Katanya, Johor amat bertuah kerana dipilih sebagai salah satu negeri perintis projek ladang satelit di bawah kendalian NFC.

Persidangan DUN disambung esok.

[nazrey]

by Linolumixa
http://www.flickr.com/photos/ainaliyana/3650780318/

image hosted on flickr


image hosted on flickr


image hosted on flickr


image hosted on flickr

[nazrey]

CIQ Puteri Harbour semarak pelancongan
29 Jun 2009

NUSAJAYA 28 Jun - Sebuah Pusat Kastam, Imigresen dan Kuarantin (CIQ) Puteri Harbour yang dibina pada harga RM50 juta dijangka menjadi pemangkin ke arah menyemarakkan lagi sektor pelancongan di negeri ini.

Pengurus Besar Pembangunan Waterfront UEM Land Holdings Bhd., Zamani Kasim berkata, sehingga kini kerja-kerja meratakan tanah sedang giat dijalankan dan pembinaan bangunan itu dijangka bermula tahun depan.

Beliau berkata, CIQ berkenaan dijangka siap sepenuhnya pada 2012 dan beroperasi pada tahun yang sama.

"Apabila siap kelak, pusat tersebut turut menempatkan sebuah terminal feri serta teksi air.

"Perkhidmatan feri itu dijangka menghubungkan Singapura, Bintan, Batam dan Pulau Karimun di Indonesia," katanya ketika ditemui di pejabatnya, di sini semalam.

Pembinaan Puteri Harbour yang terletak di kawasan Precint Waterfront itu melibatkan keluasan 278 hektar.

Zamani berkata, dengan adanya kemudahan tersebut, pengguna diberi pilihan untuk memilih perjalanan ke Nusajaya dengan melalui jalan darat atau jalan air.

Kemudahan itu, jelasnya, menjadikan daerah ini mudah untuk dikunjungi.

Beliau berkata, pada ketika ini, pihaknya sedang bekerjasama dengan pelabur iaitu Limitless IIC Dubai bagi membangunkan kawasan perumahan Canal Estate.

Zamani berkata, perumahan mewah pesisiran air yang melibatkan kawasan seluas 44.4 hektar itu turut menyediakan tempat meletak bot di hadapan rumah.

"Reka bentuk kawasan perumahan mewah berkenaan telah siap dan diluluskan oleh pihak berkuasa," katanya.

[rizalhakim]

Originally Posted by nazrey

image hosted on flickr

waaaa besnya

[rizalhakim]

CIQ Puteri Harbour semarak pelancongan

NUSAJAYA 28 Jun - Sebuah Pusat Kastam, Imigresen dan Kuarantin (CIQ) Puteri Harbour yang dibina pada harga RM50 juta dijangka menjadi pemangkin ke arah menyemarakkan lagi sektor pelancongan di negeri ini.

Pengurus Besar Pembangunan Waterfront UEM Land Holdings Bhd., Zamani Kasim berkata, sehingga kini kerja-kerja meratakan tanah sedang giat dijalankan dan pembinaan bangunan itu dijangka bermula tahun depan.

Beliau berkata, CIQ berkenaan dijangka siap sepenuhnya pada 2012 dan beroperasi pada tahun yang sama.

"Apabila siap kelak, pusat tersebut turut menempatkan sebuah terminal feri serta teksi air.

"Perkhidmatan feri itu dijangka menghubungkan Singapura, Bintan, Batam dan Pulau Karimun di Indonesia," katanya ketika ditemui di pejabatnya, di sini semalam.

Pembinaan Puteri Harbour yang terletak di kawasan Precint Waterfront itu melibatkan keluasan 278 hektar.

Zamani berkata, dengan adanya kemudahan tersebut, pengguna diberi pilihan untuk memilih perjalanan ke Nusajaya dengan melalui jalan darat atau jalan air.

Kemudahan itu, jelasnya, menjadikan daerah ini mudah untuk dikunjungi.

Beliau berkata, pada ketika ini, pihaknya sedang bekerjasama dengan pelabur iaitu Limitless IIC Dubai bagi membangunkan kawasan perumahan Canal Estate.

Zamani berkata, perumahan mewah pesisiran air yang melibatkan kawasan seluas 44.4 hektar itu turut menyediakan tempat meletak bot di hadapan rumah.

"Reka bentuk kawasan perumahan mewah berkenaan telah siap dan diluluskan oleh pihak berkuasa," katanya.

[nazrey]

'P. Harbour can go on without new investor'
Published: 2009/07/01

UEM Land Holdings Bhd can develop Puteri Harbour, the water front development of Nusajaya project, without a new investor after the deal with Damac Properties (M) Sdn Bhd has fallout.

"When we signed with Damac one third of the project was still under water. Now, half of it has been reclaimed and will be ready with infrastructure such as roads and drains by end of the year.

"All was done using internal funds," said UEM Land chief executive officer Wan Abdullah Wan Ibrahim said on the sidelines of Invest Malaysia 2009 today. The company's gearing is at 0.35 times.

UEM Land's agreement with Damac for the RM397 million sale of 43 acres in Puteri Harbour lapsed as Damac had failed to resolve issues relating to the conditions of the purchase agreement within the agreed period.

Wan Abdullah said that although Puteri Harbour development could proceed, it needed a partner to create critical mass.

UEM Land already have four to five new interested parties, local and foreign namely Australia and Singapore, and everything could be finalised by year end, he said.

Asked whether the price would be similar to the Damac deal, he said: "We will not bring the price down. The only way the price is going is up."

The high end land is priced at RM250 per sq ft while the average is RM205 per sq ft now, he said.

Going forward, he said UEM Land would launch a development in Cyberjaya with gross development value of RM1 billion in the fourth quarter of 2009. "It is a high end development," he said.

UEM Land was also in the process of securing RM354 million syndicated term loan from two local banks for working capital. - Bernama

[nazrey]

UEM Land in talks with potential Nusajaya investors
By Presenna Nambiar
Published: 2009/07/02

UEM Land Bhd is in talks with four to five parties to replace Middle East developer Damac Properties and invest in its Puteri Harbour project in Nusajaya, Johor.

Last month, Damac Properties backed out of a deal to buy 17.4 hectares for RM396 million.

"When it was brought to the board's attention we believe that we had fulfilled (all the conditions of the sale and purchase agreement), but Damac contested," UEM Land Bhd managing director Wan Abdullah Wan Ibrahim told reporters on the sidelines of Invest Malaysia in Kuala Lumpur yesterday.

Arbitration was an option but the board decided against prolonging the issue.

Wan Abdullah said the entry of an investor is not urgent now but it would be needed at some point in order to make the project a success.

"We can certainly continue our work now, but we need partners to create that busyness, to create that critical mass, we can't do it alone, we don't have enough money in the kitty to do it," Wan Abdullah said.

UEM Land is asking for a RM354 million syndicated term loan from two local banks to finance its developments.

"The bank's management have forwarded it to the credit committee and we will know in a few weeks," Wan Abdullah said. UEM Land's gearing is currently at 0.35 times.

Wan Abdullah is hopeful that UEM Land will secure an investor by the end of the year. But it will be more cautious and iron out funding details before going ahead with the signing.

The interested parties included investors from Australia, Singapore and locals.

UEM Land is asking for RM250 per sq ft for the land now, higher than the average RM205 per sq ft it closed with Damac Properties in 2008.

"We will not bring it (the price) down, the only way the price is going, is up. When we transacted with Damac, you couldn't see the land form yet but if you go to the land site today, the private marina is almost completed, and full completion slotted for the end of the year," Wan Abdullah said.

Meanwhile, he said UEM Land is working on a high-end development in Cyberjaya, with a gross development value of RM1 billion.

The project is to be completed by the fourth quarter of the year.

[rizalhakim]

UEM Land: Nusajaya project completion on track
By SHANNEN WONG


KUALA LUMPUR: UEM Land Bhd is confident of completing the construction of its three buildings in Nusajaya, Iskandar Malaysia, by year-end despite the withdrawal of its major partner, Damac Properties (M) Sdn Bhd.

Managing director Wan Abdullah Wan Ibrahim said the company would also increase the price of its 43-acre waterfront development in Nusajaya to RM250 per sq ft from RM205 previously.

“Before the end of this year, three buildings will be ready in Nusajaya. However, we can’t reveal who will be the owners of the buildings until the agreements are signed,” he said.

UEM Land will be completing the construction of its family entertainment centre, a four-star hotel and an apartment block fronting the marina despite the withdrawal of its Dubai-based partner.

However, Wan Abdullah said the company still needed new investments to create the critical mass and businesses for the new development.

“We need investors to create the critical mass and excitement. Nonetheless, we believe investors will have more confidence to invest in Nusajaya once these three buildings are up,” he said.

The company is in talks with potential local and overseas developers, including from Australia and Singapore, to take over Damac’s place.

“We are also actively making new contacts with other parties,” said Wan Abdullah.

Last month, UEM Land announced that its agreement with Damac for the RM396mil sale of 43.5 acres in Puteri Harbour, Nusajaya, had lapsed.

On the potential transaction value of the property, he said: “We will not bring the price down, for sure. The only way for the price to go is up.

“This time, we will be a bit smarter. We will look into the funding element before we start a partnership. That’s going to be a major issue for us, especially in current times.”

Meanwhile, UEM Land is working out a RM354mil syndicated term loan with two banks for its working capital.

“The banks’ managements have forwarded it to the credit committee and we should know (the results) in a few weeks,” he said.

Currently, UEM Land has a land bank of 11,000 acres.

[rizalhakim]

[nazrey]

Malaysia looks like a police state..security tide!!!!

[rizalhakim]

is dis new??????

[Lastresorter]

Originally Posted by nazrey

Malaysia looks like a police state..security tide!!!!

[nazrey]

I saw many new state of the art police HQs being build in Malaysia right now !
KL - 2
Subang Jaya - 1
Alor Star - 1
Nusajaya - 1
etc.

The most favourite Police HQ is in Putrajaya!
District Police Head Quarters
Precinct 7, Putrajaya

[nazrey]

Originally Posted by nazrey

High cost to relocate a tree
Saturday June 27, 2009
BY NELSON BENJAMIN



JOHOR BARU: Did you know it costs between RM5,000 and RM7,000 with the strength of 15 workers to successfully relocate a tree?

The amount covers the cost of rehabilitating the plant, pruning, lifting and transporting the plant to a new location.

Danga Bay Sdn Bhd chief executive officer Datuk Lim Kang Hoo said the company has allocated between RM4mil and RM5mil to relocate about 200 trees due to the construction of a six-lane coastal highway linking Johor Baru and Nusajaya.

“There are dozens of huge trees including palm treesthat need to be relocated.

Some of these trees are at least 50-years-old,” said Lim.

“Trees are living things and you cannot shock them as relocating a plant takes time and a lot of effort,” Lim added.

In detailing the relocation process, he said a tree would first have to be identified and tagged before the branches were trimmed.



All set: Trees near Danga Bay which have been pruned will be relocated
due to the construction of a six-lane coastal highway linking Johor Baru
and Nusajaya.

Once this was done, a huge hole would be dug around the tree.

“We have to leave the plant in the hole for about two weeks.

“We then use a crane to lift the tree before wrapping a gunny sack to preserve the soil and roots and then place it on the trailer,” said Lim who started in the plantation sector before moving into property development.

He added fertilisers would also be used and many of the relocated plants were placed at a special nursery in Danga Bay before being replanted elsewhere in the area and at locations identified by the Johor Baru City Council (MBJB).

“We must also place some support around the tree once it has been replanted to keep it upright and to allow for new roots to grow.

“It is an expensive and time-consuming process but all of this is worthwhile as we want to preserve the greenery in our development projects,” he said adding that Johor Mentri Besar Datuk Abdul Ghani Othman had been supportive of the initiative and even took time to see the relocating process.

Among the trees that were identified for relocation included tecoma bunga merah, tecoma bunga putih, angsana, bungor, madras thorn, jambu laut, mahogany, rain tree, pong pong, gelam, cengal pasir, gelam and pohon cemara.

As for the palm species, there are pokok kelapa, pokok serdang, yellow palm, royal palm and foxtail palm.

6 Lane Coastal Highway linking Johor City to Nusajaya - Work in progress
by Laguna Johor
http://www.flickr.com/photos/29825069@N03/3674152746/

image hosted on flickr


image hosted on flickr

[nazrey]

TM, UEM Land extend Nusajaya partnership for another year
Written by Surin Murugiah
Friday, 03 July 2009 17:38

KUALA LUMPUR: Telekom Malaysia Bhd and UEM Land Bhd have extended their partnership to develop and provide telecommunications services in Nusajaya, Iskandar Malaysia by another year until July 2, 2010.

The companies said on July 3 they had mutually agreed to extend the memorandum of collaboration under the original terms.

In July last year, TM and UEM Land announced the collaboration to jointly explore the opportunities in the project, in particular areas related to telecommunications infrastructure.

UEM Land is the master developer of Nusajaya, positioned to be the largest, premier and fully integrated urban development in South East Asia.

Nusajaya is targeted to be the heart of Iskandar Malaysia with seven signature developments - Johor State New Administrative Centre, Southern Industrial and Logistics Cluster, Medical City, Educity, Puteri Harbour, International Destination Resort and Nusajaya Residences

[nazrey]

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