Mitsui-Nusajaya Tech Park joint venture offers custom workspaces for lease in Iskandar, Malaysia

Source: Ascendas.

Mitsui & Co. has entered into a joint venture agreement with Nusajaya Tech Park (NTPSB), a company jointly owned by Asian business space solutions provider Ascendas, and Malaysian property developer UEM Sunrise to offer build-to-suit (BTS) properties for lease in Nusajaya Tech Park in Iskandar Malaysia.

The joint venture marks the first Japanese partnership for industrial parks in Iskandar Malaysia. Mitsui has an extensive network in Japan and strong know-how in areas such as industrial property development, management and leasing. Ascendas has an established track record and capabilities in quality business space development and management, while UEM Sunrise has in-depth local market knowledge and capabilities. 

Combining the respective strengths of these three partners, Nusajaya Tech Park will be well-positioned to provide differentiated solutions to Japanese corporations in Iskandar Malaysia, as well as attract a new wave of Japanese investments into the region. The park will also benefit from potential synergies with the Smart City project that Mitsui is undertaking in the Medini District within Iskandar Malaysia. Under the agreement, a total land area of 10.7 hectares will be set aside for BTS for lease within the 210-hectare Nusajaya Tech Park, at a projected development value of approximately S$167 million (RM468 million) over four years.

The joint venture will provide one-stop solution to companies who prefer to operate in customised facilities on long-term leases, without the hassle and capital expenditure associated with the construction process. The joint venture will oversee and finance the entire real estate process for customers – from design, construction, project management to property management.

Designed for a wide range of light to medium industries, Nusajaya Tech Park offers an eco-friendly and world-class business environment, with integrated industrial, commercial spaces, dormitories, amenities and support facilities in one location. It is also the first township in Malaysia to be awarded Singapore’s Building and Construction Authority’s Green Mark for Districts – Gold (Provisional) Award.

Reiji Fujita, General Manager of Urban Development Division of Mitsui, said, “Japanese companies are increasingly seeking investment and expansion opportunities in Southeast Asia as part of their globalisation strategies. Nusajaya Tech Park is a catalytic development in Iskandar Malaysia, located just minutes away from Singapore and well-positioned to serve as a key gateway for Japanese corporations to grow their presence in this region. Our collaboration with two very formidable industry leaders in this market, Ascendas and UEM Sunrise, will cement our position as a preferred partner for Japanese companies seeking growth in this part of the world.”

Manohar Khiatani, President and Group CEO of Ascendas and Chairman of NTPSB, said, “By leveraging Mitsui’s strong network of clients and partners, we can elevate our marketing efforts for Nusajaya Tech Park, particularly to Japanese companies, and help these companies harness the potential of this fast-growing region.”

William Tay, Chief Executive of Ascendas South East Asia and Director of NTPSB, said, “Through this new joint venture, our customers in Nusajaya Tech Park will not only benefit from solutions that are customised to their business needs, but also enjoy international standards of business space development and operations as a result of the collective strengths of all three partners.”

Raymond Cheah, Chief Operating Officer, Commercial of UEM Sunrise said, “We are pleased that Mitsui is joining the Nusajaya Tech Park family. Mitsui’s involvement offers an added dimension that will propel Gerbang Nusajaya into an industrial and business engine to become the regional transformation hub, through a partnership of international proportions.”

SMRT JV Hailo Singapore will allow taxi e-receipts

SMRT Road Holdings (SMRT Roads) has announced a joint venture agreement with London-based taxi mobile application developer Hailo Network Holdings (Hailo) to form Hailo Singapore. Under the agreement, a taxi booking application will be introduced to passengers and taxi drivers in Singapore.

Benny Lim, Managing Director of SMRT Roads, said that the new joint venture would provide an enhanced travel experience for passengers. "The integration of Hailo Network's expertise in taxi booking systems and SMRT Road's experience in taxi operations and fleet management offers a seamless taxi booking experience for our passengers and taxi drivers in Singapore," he said.

Ron Zeghibe, Executive Chairman and Co-Founder of Hailo Network, said “Hailo's mission is to make taxis work better for both passengers and drivers all across the world. Founded in 2011, Hailo is a global service with extensive operations in Europe, North America and Asia. By partnering with SMRT Roads, we are combining the best-in-class Hailo app with the resources needed to provide a new level of choice, quality and service for Singapore. Hailo is here for the long term and is excited to be working with SMRT, the leading multi-modal public transport operator in Singapore.”

Targeted for launch in Singapore in October, the Hailo taxi booking application offers passengers an easy way to organise taxi claims. Passengers can register their credit cards with Hailo and receive e-mail receipts at the end of their trips. This shortens the time required for the processing of payment for both the passenger and taxi driver. The app will also allow users to book and track their taxi’s arrival through a real-time display.