MPCB to build hub for trade in IDR

April 15, 2008
MPCB to build hub for trade in IDR

PROPERTY developer Malaysia Pacific Corporation Berhad (MPCB) is
planning a giant retail and wholesale trading hub as part of its
flagship development LakeHill Resort City in Johor's Iskandar
Development Region (IDR).

IDR is a special economic zone aimed at garnering both domestic and
foreign investment.

Bill Ch'ng, CEO of MPCB, told BT last week that its Asia-Pacific
Trade & Expo City (Aptec) would be a 'platform for greater regional
collaboration, bringing about greater socio-economic benefits'.

He also said that it would create a strategic partnership between
Singapore and Malaysia - one that could, among other things, tap the
mass consumer market of Asia-Pacific's 800 million population.

At 4 million sq ft, Aptec aims to be the largest trade, expo and
wholesale distribution centre in the region. It is projected to
create over 50,000 jobs directly as well as an additional 200,000-
plus jobs in supporting industries.

Costing RM1.2 billion (S$517 million) to build, Aptec is slated for
completion within three years once plans for construction have been
given the green light.

Besides housing a wide variety of products from India, China and the
Asean countries, it will also boast an entertainment and tourism
complex.

Aptec will be part of the 196 hectare LakeHill Resort City, an
integrated resort town that will hold about 12,000 residential units,
a shopping mall, office suites as well as a heritage and cultural
village.

Taking into account the property market here, young Singaporeans may
want to look across the Causeway for more affordable properties,
suggested Mr Ch'ng, especially with the recent relaxing of certain
Malaysian laws such as long-stay visas.

To be developed at a cost of some RM3 billion, LakeHill Resort City
is expected to generate an estimated gross development value of RM6.3
billion over 8-10 years.

EastLiving.com.sg

Contact Stuart Chng: (65) 9691 9907
Email: stuart.chng@eastliving.com.sg

EastLiving - Singapore Property and Real Estate DB