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IWC Unveils RM4.3 Billion Master Development Plan for the Next Decade

IWC Unveils RM4.3 Billion Master Development Plan for the Next Decade
IWC Unveils RM4.3 Billion Master Development Plan for the Next Decade

KUALA LUMPUR – Iskandar Waterfront City Berhad (IWCITY), a prominent real estate developer, is proud to announce its strategic master development plan for the next 10 years. With a landbank of approximately 1,000 acres holding freehold status, IWCITY is poised for significant growth and development.

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 Bukit Chagar RTS Station and JB City Center, capitalising on their 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, IWCITY has also signed a Memorandum of Understanding (MOU) with Meliá Hotels International S.A., a leading hotel company from Spain, for this development. Located just 7km from the Rapid Transit System (RTS), Danga Rivera’s strategic location is expected to attract investors and stakeholders.

Mr Yap Meow Hin, a spokesperson for IWCITY, stated, “Our collaboration with Meliá Hotels International underscores our commitment to excellence and our 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 IWCITY as we capitalize on the strategic location of our land bank, which is within a 10-15 minute drive to the RTS Bukit Chagar Station.”

Another highlight of IWCITY’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.

Additionally, IWCITY is developing Danga Heights, a vibrant mixed-use project with a focus 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, IWCITY is confident in its ability to develop and leverage its extensive landbank, which is strategically located near mature areas and close to 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.