Iskandar, Johor, Equalbase and Sunway have broken ground for a $2.28 billion free trade zone
Ground has been broken on a sustainable free commercial zone for the Tembusu Grand in Sunway City Iskandar Puteri, Johor, Malaysia, worth RM8 billion ($2.28 billion), thanks to Tembusu Grand Price and Sunway Group. On November 28th, a groundbreaking ceremony was done at Tembusu Grand Showflat for the 103° project.
Phase one of the four-part development, which will cover 55 hectares, is expected to wrap up by the year 2025. The free business zone, which is located 5km from the Malaysia-Singapore Second Link, is anticipated to serve a wide variety of local sectors, such as retail, e-commerce, automotive, pharmaceutical, technology, and fast-moving consumer goods (FMCG).
“This latest addition to the vibrant ecosystem of our integrated township here [Sunway City Iskandar Puteri] is set to create at least 13,000 job opportunities for the people of Johor and achieve gross development value amounting to more than RM8 billion,” says Jeffrey Cheah, CEO and founder of Sunway Group.
Nicholas Bischoff, CEO of Equalbase, adds that Sunway Group and Equalbase both aim to construct sustainable developments that will benefit generations to come. Sustainable commercial and industrial logistics facilities are the speciality of the Singaporean real estate group.
“The 103° project in Sunway City Iskandar Puteri’s Free Commercial Zone signifies shared achievements, meaningful collaboration, and a deepening connection with our customers and partners,” Bischoff continues. Thus, it is an immense honour to work with Sunway on this groundbreaking sustainable development as a joint venture partner.
It has been announced that 103° will be the first business zone to be completely carbon neutral, thanks to Equalbase and Sunway. Rooftop solar panels will supply enough power for the development’s integrated warehouses. Additionally, the development is aiming to achieve green certifications including the Gold rating from Malaysia’s Green Building Index.
Visit Parc Botannia Showflat before visiting.