Albeit a sluggish 10-year development period for Iskandar, with some projects and real estate developments taking longer than expected to take off, some bright spots have emerged and investors are still hopeful for value appreciation.
The Iskandar Region Development Authority (Irda) estimates a 50 per cent materialisation of the RM187.96 billion already invested into the development. It’s ultimate target is to attract RM338 billion worth of investment monies into the region by 2025. For now, the main developments and attractions are education and healthcare.
Photo: Medini Signature
In EduCity, the international education institution Malborough College Malaysia has brought about 823 students and their families to the region. The school is about a 10-minute drive away from the Tuas second-link in Singapore while also offering boarding facilities. Other tertiary institutions under the EduCity scheme include the Netherlands Maritime Institute of Technology and Newcastle University of Medicine Malaysia. Soon the Management Development Institute of Singapore (MDIS) and Raffles American School will also open, boosting the population and perhaps real estate growth in the vicinity.
Real estate in Nusajaya City could benefit from the EduCity development while the Medini Iskandar project looks to bring in investment monies through healthcare. Gleneagles Medini has already opened its doors in 2015 and soon Regency Specialist Hospital, Thomson Medical Centre and more KPJ Group healthcare centres will join the ranks.