BSEL plans $4bn Malaysian investment

INVESTMENT OPPORTUNITY: BSEL has agreed to invest $4 billion in developing 70 million square feet of land in Malaysia's Johor Bahru region (pictured). (Getty Images)

UAE-based developer BSEL Infrastructure Realty has agreed to invest as much as $4 billion in developing 70 million square feet of land in Malaysia's Johor Bahru region, the company said on Sunday.

BSEL has signed a preliminary agreement with Iskandar Regional Development Authority for the development of the proposed Iskandar metropolis, it said in a statement.

The UAE firm said it will invest the $4 billion over a period of 12 years.

The attractiveness of Johor Bahru for real estate companies has been attributed to close proximity to Singapore and cheaper land prices, compared to Singapore mainland prices.

“At the moment we see a 10% return on investment on this project,” Christina Cabading, president of BSEL UAE, told Arabian Business.

Around 80% of the development will comprise residential units and the rest will be commercial space.

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