Shanghai-based Greenland Group’s maiden project in Dannga Bay, Iskandar will comprise residential and commercial properties, reported The New Straits Times.
In particular, the integrated project will consists of a private club, apartments, shop offices, themed street malls, resort homes and high-rise apartments with spectacular views.
The company’s Malaysian subsidiary Greenland Danga Bay Sdn Bhd will build the mixed-use project on a 760,000 sq ft site in Danga Bay, which it purchased from Iskandar Waterfront Holdings Sdn Bhd (IWSB) for RM600 million.
“It will take us five to eight years to develop our project, called Jade Palace,” according to Greenland Group’s GM for Malaysia Wu Shao Hua.
In addition, residents at Jade Palace will benefit from the project’s all-in-one living and lifestyle services like home delivery, interior landscaping, home improvement, general housekeeping and property management.
However, the project’s total cost and gross development value have yet to be finalised because the company’s local operations are still being smoothed out.
Notably, the government-owned Greenland Group decided to build the project in Danga Bay due to its strategic location within Iskandar region, an economic corridor that has been flourishing in the past few years.
*source from PropertyGuru Malaysia on Jun 27, 2014