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Thread: Peter Lim's RM10b project gets Iskandar nod

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    Default Peter Lim's RM10b project gets Iskandar nod

    Peter Lim's RM10b project gets Iskandar nod
    Project centres on medical hub run by Thomson Medical Centre

    By Teo Si Jia

    VANTAGE Bay, an integrated development in Johor Baru that will cost RM10 billion (S$4 billion) in its entirety, has received the nod of approval from the Iskandar Regional Development Authority.

    The project is a joint venture between the Johor royal family and Singaporean businessman Peter Lim, and centres on a medical hub to be operated by Thomson Medical Centre. Mr Lim, a 70 per cent stakeholder in the development, bought out the medical group in 2010.

    Spanning 10 ha, the waterfront project is a gated city with its own medical campus, residential apartments, hotels, convention centres, shopping malls and commercial offices, and will be fully completed in 10 years.

    Thomson Specialist Hospital, a 300-bed tertiary hospital within the medical hub, will be supported by Centres of Excellence (COE) focusing on fertility, diabetes, cardiology and oncology. It will also strike up a public-private partnership with a private wing where medical specialists from public hospitals can practise.

    Chan Boon Kheng, group president of Thomson Medical, said that the medical facility is strategically located with its close proximity to the densely-populated JB Sentral, JB's Royal Customs, Immigration and Quarantine Complex and Singapore's Woodlands checkpoint.

    "We also see the potential of patients in the region coming here regularly for treatments as there is immense value in doing so," he added.

    He said that it has to apply to the relevant bodies to enable Singaporean patients to utilise their CPF balances when footing medical bills in the new hospital.

    Besides healthcare facilities, the integrated complex caters to other needs as well. Vantage Bay offers over a million square feet in office space, and plans to entice firms with operations in Singapore to relocate to JB with lower rentals. It will also boast one of the largest shopping malls in JB with an area of a million square feet.

    Ho Kiam Kheong, CEO of Best Blend, the joint venture vehicle, said that the development will create 10,000 jobs in Malaysia in the long run.

    Work on the project will begin at the end of 2013. The hospital and residential apartments are due to be completed in 2016 under its first phase. The medical facility's COE, office spaces and retail malls will be built under the second phase.

    http://www.businesstimes.com.sg/prem...r-nod-20121129

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    no wonder he took thomson med private despite all the saga

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    Wah peter lim has big plan for that place....it sounds like this whole place could change with this establishment.

    so with all the frothy prices of residential, he will launch it at next year with even bigger price....and its time with Msia election, and RTS announcement I suppose.....

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    Quote Originally Posted by JAFCO
    Wah peter lim has big plan for that place....it sounds like this whole place could change with this establishment.

    so with all the frothy prices of residential, he will launch it at next year with even bigger price....and its time with Msia election, and RTS announcement I suppose.....
    the prices of new homes in that region are very alarming by Msia's standard

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    Melaka new launch at 1.5k psf

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    Quote Originally Posted by newbie11
    Melaka new launch at 1.5k psf
    WHAT? thats KL style! what has Malacca to offer??!?!

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    Quote Originally Posted by graveyard
    the prices of new homes in that region are very alarming by Msia's standard
    Unfortunately they are viewed as extremely affordable by Singaporeans and PRs. My sense is many people here (including myself) are planning to use JB house as as a weekend house or for retirement. With the government committed to population increase via immigration, more people will be pushed overseas to seek refuge from congestion and lower cost of living. This should be the key driver behind the price increase.

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    Peter Lim knows what is lacking in JB and taps on its potential readily. He is very smart to go ahead with this project. It will probably wipe him quite dry in terms of finances!

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    Quote Originally Posted by Shanhz
    no wonder he took thomson med private despite all the saga
    He took TMC only after his bid to buy Liverpool failed. TMC was the next best option which matches the cash he had on hand then for Liverpool, i.e. about $500mil. This idea of an integrated hub probably conceptualized much later...

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    Quote Originally Posted by graveyard
    WHAT? thats KL style! what has Malacca to offer??!?!
    sea front

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    He shd b building a race track near 2nd link.

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    Malacca is Ong Beng Seng's project.
    Quote Originally Posted by graveyard
    WHAT? thats KL style! what has Malacca to offer??!?!

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    Quote Originally Posted by ysyap
    Peter Lim knows what is lacking in JB and taps on its potential readily. He is very smart to go ahead with this project. It will probably wipe him quite dry in terms of finances!
    the potential return is unlimited!


    Quote Originally Posted by DC33_2008
    Malacca is Ong Beng Seng's project.
    what is upcoming in malacca?
    I took the road less traveled by, and that has made all the difference. - Robert Frost quotes (American poet, 1874-1963)

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    [quote=roly8]the potential return is unlimited!
    [quote]Well if returns only after 10 years, its hmmm... he is already in his 50s. Let's say it takes 5 years to break even, then it'll be another 15 years before he can smell profit! Well, maybe its for his children to manage lor... Lol!

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    [quote=ysyap][quote=roly8]the potential return is unlimited!
    Well if returns only after 10 years, its hmmm... he is already in his 50s. Let's say it takes 5 years to break even, then it'll be another 15 years before he can smell profit! Well, maybe its for his children to manage lor... Lol!
    freehold status ?

    he got son or not?

    his children gonna huat until can't spend finish the money

    I took the road less traveled by, and that has made all the difference. - Robert Frost quotes (American poet, 1874-1963)

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    Quote Originally Posted by hyenergix
    Unfortunately they are viewed as extremely affordable by Singaporeans and PRs. My sense is many people here (including myself) are planning to use JB house as as a weekend house or for retirement. With the government committed to population increase via immigration, more people will be pushed overseas to seek refuge from congestion and lower cost of living. This should be the key driver behind the price increase.
    yess a lot of new condos in JB are snapped up by sporeans. Spore govt has also increased its stake in Iskandar development so it has a strong signalling effect on sporean investors too.

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    Quote Originally Posted by Komo
    sea front
    hee. sea front or straits front? this psf standard is comparable to that in penang that has a real sea view (indian ocean)

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    Quote Originally Posted by ysyap
    Peter Lim knows what is lacking in JB and taps on its potential readily. He is very smart to go ahead with this project. It will probably wipe him quite dry in terms of finances!
    strong backing too ..johor royal family. i am sure his investment will pay off handsomely

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    Come with Tsunami
    Quote Originally Posted by graveyard
    hee. sea front or straits front? this psf standard is comparable to that in penang that has a real sea view (indian ocean)

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    Its only because relative to singapore its cheap by exchange rate. But in terms of rental it is not comparable.

    If ties stay warm and moving in out between the two is good people will start to see singapore a working city and iskandar as their country side....
    Our pm lee is already so worried about an ageing population as it will be burden to govt and will eventually depress the outlook of singapore and affect gdp. Look ay japan and u get and idea they are bigger and can be longer process singapore has only about a decade to unwind the situatiin before it face its demographic cliff.

    Idkandar provide opportunity to 'transfer' the old baggage for new one and ensure our sing.inc engines are running well like any ceo should be managing...
    It make sense. When u think the mext 10 urs....

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    [QUOTE=roly8][quote=ysyap]
    Quote Originally Posted by roly8
    the potential return is unlimited!

    freehold status ?

    he got son or not?

    his children gonna huat until can't spend finish the money

    They are lucky indeed as he loves them a lot.

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    Quote Originally Posted by ysyap
    Well if returns only after 10 years, its hmmm... he is already in his 50s. Let's say it takes 5 years to break even, then it'll be another 15 years before he can smell profit! Well, maybe its for his children to manage lor... Lol!
    They r already very rich, with or without this proj. Already, their block of apartmt if rent out, cannot eat finish leow. By our standard lah.

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