Datuk Syed Ahmad Khalid Syed Mohammed, Independent Non-Executive Director of UM Land.
Datuk Syed Mohamed Syed Ibrahim, President and CEO of Iskandar Investment Berhad (IIB)
Datuk Syed Ahmad Khalid Syed Mohammed and Datuk Syed Mohamed Syed Ibrahim signing the collaboration agreement flanked by Joanne Oei and Lim Eng Kuan, Group Chief Operating Officer of UM Land.
Datuk Syed Ahmad Khalid Syed Mohammed and Datuk Syed Mohamed Syed Ibrahim exchanging the agreement.
In a milestone event today, UM Land Berhad and Iskandar Investment Berhad inked what would be an agreement to forge ahead into the future to build a greater Iskandar in the epicenter of Medini. An alliance of strength and corporate synergy, optimism resonates during the signing of the Collaboration Agreement held at the Crowne Plaza Hotel in Kuala Lumpur yesterday.
A long standing property developer in Johor, UM Land’s proud projects range from the Seri Alam township, Seri Austin and the latest Somerset Puteri Harbour in Nusajaya. It is well versed with the development landscape of the state and its Seri Alam township for instance is today known as the City of Knowledge, which has garnered the strong support and blessings from IRDA (Iskandar Regional Development Authority).
President and CEO of IIB Datuk Syed Mohamed Syed Ibrahim commended this partnership and jovially shared that it all began in a conference in May last year where he “pitched” the story to Dato’ Ng Eng Tee, Deputy Chairman and Executive Director of UM Land.
He went on to share that “Medini Iskandar is well-positioned and on track to become the central business district of Nusajaya in the heart of Iskandar Malaysia. It will emerge as an important nucleus for business, trade and lifestyle with excellent linkages to local and regional networks. The proposed investment by UM Land, which is one of the renowned property developers in the local real estate industry does not only reflect the attractiveness of Medini as an investment hot spot but will add a new dimension to the vibrancy of the lifestyle development. We are confident of the credibility of UM Land to delivery yet another iconic lifestyle project in Medini.”
Datuk Syed Ahmad Khalid Syed Mohammed, Independent Non-Executive Director of UM Land also pointed out that the business of making this a success shall not “preclude or exclude” other parties to come forth to form a joint venture or via other permutations. The development roadmap shall include residential, commercial and mixed he said.
On size and value, Group Chief Operating Officer of UM Land Lim Eng Kuan shared that negotiations and discussions have been underway to determine the exact plots of lands to be worked on under the joint effort. He also indicated that projects will be spread across multiple plots of land and total acreage is still yet to be determined. Nevertheless, together with this new venture, UM Land shall amass more than 1,000 acres to its portfolio just in Iskandar alone.