Danga Heights Development, a subsidiary of Iskandar Waterfront Holdings (IWH), has formed a joint venture with MCC Singapore, a subsidiary of Metallurgical Corporation of China (MCC), to co-develop Danga Heights. The joint venture marks the company’s first major foray into the real estate industry of Malaysia.
Danga Heights is situated on 148 acres of prime commercial land in Skudai, a suburb in Iskandar Puteri, Johor Bahru District, Johor, Malaysia, which is adjacent to Danga Bay and Skudai Highway.
The development is estimated to yield a gross development value of RM8 billion ($2.6 billion). Construction is scheduled to begin in early 2021 and to last 10 years.
The first phase of the development will be a 38-acre mixed-use development.
The project is considered one of the largest projects and it is also one of the biggest foreign direct investments (FDI) in Iskandar Malaysia since the outbreak.
