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China : GREENLAND contrives to spend RM3b in JOHOR.

Greenland Group Co Ltd, Shanghai-based contrives to inject RM3 billion in high-end real estate projects, comprising waterfront properties, in Danga Bay, Johor Baru.

For purchasing 60ha of land to invest in Iskandar Malaysia property market, state-linked real estate developer is allotting high-level talks with Iskandar Waterfront Holdings Sdn Bhd (IWH).

Greenland s forte is in mixed commercial development, including high-end hotels and residential towers.

We expect them to bring their expertise and market knowledge to help build world-class waterfront properties in Danga Bay, IWH executive director Lim Chen Herng said in a statement released last Friday.

In IWH, other major Chinese developers with plans comprises include Country Garden Holdings Co Ltd that started work on a 21ha waterfront site for an integrated development, including up-market apartment units.

Chinese shareholders, controlled the Hao Yuan Investment, and have taken over six-parcels of waterfront land totalling 15ha in Danga Bay for a RM1.6 billion mixed development venture.

Greenland, the builder of the 131-storey world s tallest residential tower in Wuhan in Hubei Province in China, is also building another iconic 85-storey tower in Dalian, China, said the statement.

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Publication:Mena Report
Geographic Code:1GREE
Date:Mar 3, 2014
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