PROPERTY developer Malaysia Pacific Corporation Berhad (MPCB) is planning a giant retail and wholesale trading hub as part of its flagship development LakeHill Resort City in Johor's Iskandar Development Region (IDR).
IDR is a special economic zone aimed at garnering both domestic and foreign investment. Bill Ch'ng, CEO of MPCB, told BT last week that its Asia-Pacific Trade & Expo City (Aptec) would be a 'platform for greater regional collaboration, bringing about greater socio-economic benefits'.
He also said that it would create a strategic partnership between Singapore and Malaysia - one that could, among other things, tap the mass consumer market of Asia-Pacific's 800 million population.
At 4 million sq ft, Aptec aims to be the largest trade, expo and wholesale distribution centre in the region. It is projected to create over 50,000 jobs directly as well as an additional 200,000- plus jobs in supporting industries.
Costing RM1.2 billion (S$517 million) to build, Aptec is slated for completion within three years once plans for construction have been given the green light.
Besides housing a wide variety of products from India, China and the Asean countries, it will also boast an entertainment and tourism complex.
Aptec will be part of the 196 hectare LakeHill Resort City, an integrated resort town that will hold about 12,000 residential units, a shopping mall, office suites as well as a heritage and cultural village.
Taking into account the property market here, young Singaporeans may want to look across the Causeway for more affordable properties, suggested Mr Ch'ng, especially with the recent relaxing of certain Malaysian laws such as long-stay visas.
To be developed at a cost of some RM3 billion, LakeHill Resort City is expected to generate an estimated gross development value of RM6.3 billion over 8-10 years.
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