Tuesday, January 29, 2008

Node 1 in IDR

Details on the RM 4.1 Billion USD investment by the Middle Eastern Consortium

Area: Node 1 = 883 Hectares = 80 Km

Parties: There are 3 parties to the consortium. There are called the Master Concessionaire and Land Developer (MCLD). This people lease the land for 99 years from Khazanah Nasional Berhad.

1. Mubadala Development Company (Lifestyle and Leisure Cluster) RM 1.8 Billion

They will develop 502 hectares which include the city center, golf village, entertainment bay, medical village and residential areas.

2. Al Nibras 2 (under the Kuwait Finance House- Labuan) (Cultural Cluster) RM 1.2 Billion

They will develop 250.9 hectares which contains logistics village, creative park, heritage center.

3. Millennium Development Holdings, a subsidiary of Saraya Holdings (Financial Center) RM1.1 Billion

They will develop 147.7 hectares into a financial center.