Malaysian developer to build S$10 billion ‘mega-townships’ in JB, 1 near Singapore, 1 near Legoland – Mothership.SG

A Malaysian property developer plans to build two “megatownships” worth more than RM35 billion (S$10 billion) in neighbouring Johor Bahru, Malaysian media reported New Straits Times (NST era).

The developer, Tropicana Corp Bhd, has over 1,000 hectares of land in the JB district, said deputy general manager Khoo Thian Shyang.

He noted that the current rental price hike in Singapore makes it a “prime time” for Tropicana to launch these projects.

Highest prices

The developer is targeting prices of more than RM1,000 (S$286) per square foot, Khoo said.

He added that the prime location and modern amenities of the planned development would appeal to Malaysians, Singaporeans and Malaysians working in Singapore.

For this reason, both townships are also being built in such a way that they have easy access to the Causeway and the Second Link Expressway.

The first district, Lido Waterfront Boulevard, will be built on reclaimed land along Singapore’s waterfront and will be worth more than RM25 billion (S$7 billion).

The first residential development, The Watermark Residences, will be an eight-minute drive from the under-construction Bukit Chagar station of the JB-RTS link.

The second township, Tropicana Uplands, will be located in Gelang Patah, near Legoland Malaysia.

According to Google Maps, that’s about an hour’s drive from Singapore.

Khoo said Johor will be “busier than Kuala Lumpur” after the JB-Singapore Rapid Transit System (RTS) Link is completed.

Tropicana wants to capture the potential of this accelerated growth, he added.

“We are excited about the special economic zone, which will boost demand for real estate across Johor, including homes, offices, shopping malls and hotels.”

Top image from Tropicana and New Straits Times website