Iskandar realised RM44.82b investments in Q1: Irda

Iskandar Malaysia in Johor has realised over one third of its committed investments secured since 2006, said Iskandar Regional Development Authority (Irda). Specifically, 40.2 percent or RM44.82 billion of the RM111.37 billion investments have been realised as of end-March 2013.

Iskandar Malaysia has also secured additional investments amounting to RM5.06 billion in Q1 2013. Foreign investors accounted for 36 percent (RM38.8 billion) of Iskandar Malaysia’s cumulative committed investments, while local investors contributed 64 percent or RM72.6 million.

Datuk Ismail Ibrahim, Chief Executive Officer of Irda, noted that the Q1 results showed the strong support received by Iskandar Malaysia from both foreign and local investors.

“This indicates the high level of confidence that stakeholders have in the various initiatives that are being implemented in Iskandar Malaysia.”

Notably, Asia remains the region’s major source of foreign investments, with Japan and Singapore as the top two Asian investors. Other key international investors include the United Arab Emirates and European Union countries.

Meanwhile, various projects will likely be completed this year, including the opening of Traders Hotel at Puteri Harbour and Pinewood Iskandar Malaysia Studios in Medini. 

“These developments will help increase the value proposition of the region, and appeal to more prospective investors to Iskandar Malaysia,” Ismail said.

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