Mitsui & Co enters into JV with Nusajaya Tech Park
Published on: Wednesday, July 29, 2015
Kuala Lumpur: Tokyo-based Mitsui and Co Ltd has entered into a joint venture (JV) agreement with Nusajaya Tech Park Sdn Bhd to undertake a 10.7-hectare development, comprising build-to-suit (BTS) properties for lease in Iskandar Malaysia. The project will have an estimated gross development value of RM468 million over four years. Mitsui and Co has experience and know-how in the areas of industrial property development, management and leasing, while Nusajaya Tech Park Sdn Bhd is jointly owned by business space solutions provider Ascendas and property developer UEM Sunrise Bhd. "The developed area, Nusajaya Tech Park, combines three partners that shall be well-positioned to provide differentiated solutions to Japanese corporations in Iskandar Malaysia as well as attracts new wave of Japanese investments into the region," Nusajaya said in a statement, here Tuesday.
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