Monday, 9 January 2017
IWCITY (1589) - IWCity plans mixed development on Iskandar land
JOHOR BARU: Iskandar Waterfront City Bhd (IWCity) plans to undertake a mixed-development project on two parcels of land being acquired by the company in Iskandar Malaysia.
Chief executive officer and executive director Calvin Wong said the land’s strategic location off Jalan Sungai Danga here fronting the Johor Baru Coastal Highway would be its strong selling point.
Located about 10km North-West of Johor Baru city centre, the land parcels are also accessible via Jalan Tun Abdul Razak, Skudai Highway and Perling Expressway before heading to Johor Baru Coastal Highway.
“We are fortunate to get the much-sought-after land parcels within the Sungai Danga vicinity below market prices,’’ he told StarBiz after the company’s EGM.
At the EGM, shareholders approved the proposal to issue 30,333,333 and 56,666,667 million new ordinary shares at 90 sen each to part-finance and finance the purchase of the two pieces of land.
IWCity’s wholly-owned subsidiary Success Straits Sdn Bhd has proposed to buy the 1.72ha land from Malgold Construction Sdn Bhd and the 2.17ha land from Eight Danga Sdn Bhd.
IWCITY (1589) - IWCity plans mixed development on Iskandar land
http://www.thestar.com.my/business/business-news/2017/01/09/iwcity-plans-mixed-development-on-iskandar-land/
