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20-02-13, 13:20
http://www.straitstimes.com/premium/top-the-news/story/2600-homes-2-wellness-centres-20130220
SINGAPORE-MALAYSIA PRIME MINISTERS' ANNUAL RETREAT
2,600 homes in 2 wellness centres
Published on Feb 20, 2013
By Esther Teo
MORE than 2,600 homes will rise on the two wellness centres in Medini Iskandar, in Johor.
The two projects have a combined gross development value of RM3 billion (S$1.2 billion) and will also offer other facilities such as serviced apartments and shops.
With a strong focus on wellness - incorporating nature elements and services such as spas and medical facilities - they are designed to meet the increasing demand for a well-balanced life, said developer Pulau Indah Ventures (PIV).
Yesterday, Prime Minister Lee Hsien Loong and Malaysian Prime Minister Najib Razak officiated at the ground-breaking ceremony of the urban wellness project named Afiniti.
Sitting on a 5 acre site in Medini North, it caters to corporate professionals and comprises a corporate training centre, serviced apartments, a wellness centre, shops and 147 homes.
The other project is Avira, a resort wellness centre at Medini Central. It consists of a total of 2,491 units of bungalows, semi- detached homes, terraces and condos, as well as commercial space.
The first phase of the residential launch for both projects is expected in June or July.
These projects are part of a landmark land swop deal involving former railway land that will see both countries developing land sites in Singapore and Johor.
The developers are "optimistic" about both Medini projects. They are aiming for buyers from the post-war baby-boomer generation, many of whom have reached retirement age or will do so soon.
Afiniti is developed by PIV, a 50:50 joint venture between Khazanah and Temasek, while Avira is developed by a joint venture between PIV and Malaysian firm Eastern & Oriental.
As for the Iskandar development area as a whole, PM Lee predicted "a lot of spillover from Singapore companies that want to expand or companies that want to come to Singapore but can't quite fit into Singapore".
He added: "I think Iskandar offers them a prime opportunity and as long as the Malaysian government pursues this policy to develop Iskandar and to link up with Singapore, I think the prospects are very good."
The two prime ministers' visit to Medini capped a day that started with talks in Singapore and a visit to the Marina One project being jointly developed by Khazanah Nasional and Temasek Holdings.
PM Lee said Marina One is very important to both countries and he expects it to become an "iconic" building in Singapore's new business district.
[email protected]
SINGAPORE-MALAYSIA PRIME MINISTERS' ANNUAL RETREAT
2,600 homes in 2 wellness centres
Published on Feb 20, 2013
By Esther Teo
MORE than 2,600 homes will rise on the two wellness centres in Medini Iskandar, in Johor.
The two projects have a combined gross development value of RM3 billion (S$1.2 billion) and will also offer other facilities such as serviced apartments and shops.
With a strong focus on wellness - incorporating nature elements and services such as spas and medical facilities - they are designed to meet the increasing demand for a well-balanced life, said developer Pulau Indah Ventures (PIV).
Yesterday, Prime Minister Lee Hsien Loong and Malaysian Prime Minister Najib Razak officiated at the ground-breaking ceremony of the urban wellness project named Afiniti.
Sitting on a 5 acre site in Medini North, it caters to corporate professionals and comprises a corporate training centre, serviced apartments, a wellness centre, shops and 147 homes.
The other project is Avira, a resort wellness centre at Medini Central. It consists of a total of 2,491 units of bungalows, semi- detached homes, terraces and condos, as well as commercial space.
The first phase of the residential launch for both projects is expected in June or July.
These projects are part of a landmark land swop deal involving former railway land that will see both countries developing land sites in Singapore and Johor.
The developers are "optimistic" about both Medini projects. They are aiming for buyers from the post-war baby-boomer generation, many of whom have reached retirement age or will do so soon.
Afiniti is developed by PIV, a 50:50 joint venture between Khazanah and Temasek, while Avira is developed by a joint venture between PIV and Malaysian firm Eastern & Oriental.
As for the Iskandar development area as a whole, PM Lee predicted "a lot of spillover from Singapore companies that want to expand or companies that want to come to Singapore but can't quite fit into Singapore".
He added: "I think Iskandar offers them a prime opportunity and as long as the Malaysian government pursues this policy to develop Iskandar and to link up with Singapore, I think the prospects are very good."
The two prime ministers' visit to Medini capped a day that started with talks in Singapore and a visit to the Marina One project being jointly developed by Khazanah Nasional and Temasek Holdings.
PM Lee said Marina One is very important to both countries and he expects it to become an "iconic" building in Singapore's new business district.
[email protected]