KUALA LUMPUR: Iskandar Waterfront City Bhd (IWC) has unveiled its strategic master development plan for the next ten years, as the company is poised for significant growth with a landbank of approximately 1,000 acres holding freehold status.
The company’s development pipeline includes the phased development of 146 acres, with a total gross development value (GDV) of RM4.3 billion.
These developments will be strategically located near the Johor Bahru–Singapore rapid transit system (RTS) Bukit Chagar station and Johor Bharu city centre, capitalising on its proximity to key transportation hubs and urban centres.
One of the flagship projects in the pipeline is Danga Rivera, a mixed waterfront development in the mature area of Permas Jaya.
This project will feature shop offices, retail spaces, hotels, and service suites, with an expected GDV of RM500 million.
Today, IWC signed a memorandum of understanding (MoU) with Meliá Hotels International SA, a leading hotel company from Spain, for this development.
Located just 7km from the RTS, Danga Rivera’s strategic location is expected to attract investors and stakeholders.
IWC spokesperson Yap Meow Hin said the company’s collaboration with Meliá Hotels International underscores its commitment to excellence and vision of transforming landscapes to enrich communities.
“We are excited to partner with a global hospitality leader to bring a new dimension of luxury and service to Johor Bharu.
“This is an exciting time for IWC as we capitalise on the strategic location of our land bank, which is within a 10-15 minute drive to the RTS Bukit Chagar station,” he said in a statement.
Another highlight of IWC’s development plan is Tebrau Bay, a waterfront township located at the serene river mouth of Sungai Tebrau.
Focused on health and wellness, this development spans 100 acres and is poised to offer quality waterfront living.
Located just 15 minutes from the RTS Bukit Chagar Station, Tebrau Bay is expected to generate a total GDV of RM 3.5 billion in several phases, starting with a pilot phase of 30 acres.
IWC is also developing Danga Heights, a vibrant mixed-use project focusing on retail.
This development, spanning 29.3 acres, will feature 2-storey plus mezzanine shop offices in its first phase, with an expected GDV of RM330 million.
The project will also include a branded hotel, office, and service apartment and is strategically surrounded by approximately 500,000 residents in the mature residential area of Kempas.
Overall, IWC is confident in developing and leveraging its extensive landbank, strategically located near mature areas and the RTS station and Johor Bharu city centre.
The first phase of the three key development projects is expected to generate a total GDV of RM1.8 billion by developing approximately 63 acres over the next five years.
