April 21, 2009 13:19 PM
IIB Gets Personal In Wooing Investors To Iskandar Malaysia
By Muin Abdul Majid
ABU DHABI, April 21 (Bernama) -- Iskandar Investment Bhd (IIB) is counting on a more personal approach to lure potential investors to Iskandar Malaysia.
"Our approach is much more personalised now. Rather than cast the net wide in the hope of catching a few investors, we now focus on specific individual organisations," said Arlida Ariff, the IIB managing director.
She said in the wake of the global economic and financial crisis, IIB's research was geared to among others, pinpointing those who are still looking for opportunities for cost efficiency.
"These are the kind of people that we'd want to attract and cost efficiency is something Iskandar Malaysia can offer," Arlida told Bernama on the sidelines of the Cityscape Abu Dhabi 2009 real estate show at the Abu Dhabi National Exhibition Centre (ADNEC) here.
She said IIB, the catalytic developer of the special economic corridor in southern Malaysia, would be more Asia-centric in its quest for investors this year.
"We will move more closer to home, targeting mostly Indonesia and Singapore, for the first half of this year, and then going further afield to China and India," she added.
Arlida disclosed that IIB would spend the next few days in conversation with several interested parties but declined to name them.
The 2,217 sq km Iskandar Malaysia, a mixed use development planned for completion in 2025, has nearly met its US$13 billion overall foreign direct investment target for the phase ending in 2010.
To date more than US$11 billion or 92 per cent had been invested by players in the new growth area, three times the size of Singapore.
On suggestions that Iskandar Malaysia's development was dependent on Middle Eastern money, Arlida said this was never the case.
"For Iskandar Malaysia as such, I would not say that Middle Eastern money is primary. In fact, it has never been our primary focus as such. What we wanted to do was develop what was previously non-existent and introduce it to the world.
"Also, it was never intended that we only focus on the Middle East for potential investments.It was just one of the markets that needed a comprehensive, holistic introduction to Iskandar Malaysia. I think we've been fairly successful in doing that," said Arlida.
IIB's Middle East partners, Mubadala, Millennium, Kuwait Finance House and Aldar, have invested US$1.2 billion or more than 10 per cent of the capital raised to date.
Arlida also stated that IIB would focus on the implementation aspect of Iskandar Malaysia this year after previously planning, strategising and signing deals to make the special economic corridor possible.
Meanwhile, IIB's pavilion located in one of ADNEC cavernous halls has been visited by the United Arab Emirates' Vice-President, Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum as well as the Crown Prince of Abu Dhabi General Sheikh Mohammed bin Zayed Al Nahyan.
Arlida said: "The message that we're bringing to Abu Dhabi is that all the projects committed to earlier are onstream. We've forged ahead with building designs and gone on with infrastructure construction."
She cited Merlin Entertainment's US$200 million Legoland Park as one of the newer investments that had come into Iskandar Malaysia despite the current global economic slowdown.
"We signed up last December and are now in earnest designing the masterplan and starting construction by the end of this year.We hope to open by April 2012," she said.
-- BERNAMA
ABU DHABI, April 21 (Bernama) -- Iskandar Investment Bhd (IIB) is counting on a more personal approach to lure potential investors to Iskandar Malaysia.
"Our approach is much more personalised now. Rather than cast the net wide in the hope of catching a few investors, we now focus on specific individual organisations," said Arlida Ariff, the IIB managing director.
She said in the wake of the global economic and financial crisis, IIB's research was geared to among others, pinpointing those who are still looking for opportunities for cost efficiency.
"These are the kind of people that we'd want to attract and cost efficiency is something Iskandar Malaysia can offer," Arlida told Bernama on the sidelines of the Cityscape Abu Dhabi 2009 real estate show at the Abu Dhabi National Exhibition Centre (ADNEC) here.
She said IIB, the catalytic developer of the special economic corridor in southern Malaysia, would be more Asia-centric in its quest for investors this year.
"We will move more closer to home, targeting mostly Indonesia and Singapore, for the first half of this year, and then going further afield to China and India," she added.
Arlida disclosed that IIB would spend the next few days in conversation with several interested parties but declined to name them.
The 2,217 sq km Iskandar Malaysia, a mixed use development planned for completion in 2025, has nearly met its US$13 billion overall foreign direct investment target for the phase ending in 2010.
To date more than US$11 billion or 92 per cent had been invested by players in the new growth area, three times the size of Singapore.
On suggestions that Iskandar Malaysia's development was dependent on Middle Eastern money, Arlida said this was never the case.
"For Iskandar Malaysia as such, I would not say that Middle Eastern money is primary. In fact, it has never been our primary focus as such. What we wanted to do was develop what was previously non-existent and introduce it to the world.
"Also, it was never intended that we only focus on the Middle East for potential investments.It was just one of the markets that needed a comprehensive, holistic introduction to Iskandar Malaysia. I think we've been fairly successful in doing that," said Arlida.
IIB's Middle East partners, Mubadala, Millennium, Kuwait Finance House and Aldar, have invested US$1.2 billion or more than 10 per cent of the capital raised to date.
Arlida also stated that IIB would focus on the implementation aspect of Iskandar Malaysia this year after previously planning, strategising and signing deals to make the special economic corridor possible.
Meanwhile, IIB's pavilion located in one of ADNEC cavernous halls has been visited by the United Arab Emirates' Vice-President, Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum as well as the Crown Prince of Abu Dhabi General Sheikh Mohammed bin Zayed Al Nahyan.
Arlida said: "The message that we're bringing to Abu Dhabi is that all the projects committed to earlier are onstream. We've forged ahead with building designs and gone on with infrastructure construction."
She cited Merlin Entertainment's US$200 million Legoland Park as one of the newer investments that had come into Iskandar Malaysia despite the current global economic slowdown.
"We signed up last December and are now in earnest designing the masterplan and starting construction by the end of this year.We hope to open by April 2012," she said.
-- BERNAMA