IIB leads collaboration for 3,746 affordable homes in Iskandar Puteri

Iskandar Investment Berhad (IIB), a prominent master developer of Iskandar Puteri, has unveiled its pivotal role in the development of 3,746 units of affordable housing tailored for the M40 group. This milestone is achieved through a strategic collaboration with Perbadanan Kemajuan Perumahan Negeri Johor (PKPJ), Permodalan Darul Ta’zim (PDT), and Eco World Development Group Berhad (EcoWorld), with the assistance of Eco Botanic 3 Sdn Bhd, a subsidiary of EcoWorld.

Dato’ Idzham Mohd Hashim, President/CEO of IIB, expressed excitement about the collaboration, emphasizing its significance in providing affordable housing solutions for the M40 group. This initiative aligns with IIB’s commitment to fostering inclusivity and sustainability within Iskandar Puteri, aiming to address the housing needs of the M40 group and contribute to the overall growth and welfare of the community.

The M40 group’s importance to the growth of Iskandar Puteri and Malaysia’s talent pool was underscored. A healthy middle class is seen as crucial for a stable consumer base that can boost the country’s economy. The availability of affordable homes not only improves the quality of life for the M40 group in Johor but also attracts middle-income individuals looking to relocate to the region, positioning Johor as a new hub for growth in Malaysia.

Johor-Singapore Special Economic Zone initiative

This announcement comes at a significant juncture, coinciding with the recently inked Johor-Singapore Special Economic Zone (JS-SEZ) Memorandum of Understanding (MOU). IIB’s role as a catalyst and strategic developer in Iskandar Puteri’s Flagship Zone B gains prominence with this historic initiative between Malaysia and Singapore, aiming to drive foreign investments and accelerate economic growth in the region.

Fully committed to supporting the JS-SEZ, IIB believes the collaboration will create opportunities for businesses to expand operations, enhance cross-border trade, and stimulate economic prosperity, with a specific emphasis on promoting economic inclusion in the region.

IIB’s commitment to sustainability was further emphasized with the launch of the Net Zero Carbon Central Business District (CBD) in November 2023. This initiative, aiming to make Medini the first net-zero carbon CBD in the ASEAN region, is expected to have a positive impact on Johor’s GDP, employment rate, foreign investments, and Malaysia’s goal to become a high-income, fully developed nation by 2030.

Commitment to Sustainability Goals

In line with its commitment to renewable energy solutions, IIB aims to achieve 50% use of solar energy by 2030 and a 30% reduction in waste to landfill per day per capita by the same year. Initiatives in the electric vehicles (EV) industry, initiated in mid-2023, aim to promote the use of electric vehicles and renewable energy solutions in Iskandar Puteri, reinforcing IIB’s dedication to comprehensive sustainability.

The JS-SEZ initiative emphasizes the geographical advantage of the proximity between Iskandar Puteri and Singapore, making the region an attractive destination for foreign investments. It complements the 2023 announcement of the Forest City Special Financial Zone (SFZ), positioning Iskandar Puteri as an inclusive and sustainable metropolis of the future.

IIB reaffirms its readiness to play a significant role in the JS-SEZ and SFZ, prioritizing economic inclusion as a fundamental aspect of these initiatives. The commitment extends to developing joint promotional events between Johor and Singapore to bolster trade and investment in the JS-SEZ.

IIB’s partnership with PKPJ, PDT, and EcoWorld underscores its commitment to contribute to the social fabric of the community and its vision of creating an inclusive, sustainable, and vibrant community in Medini and Iskandar Puteri.