SINGAPORE: Malaysia Pacific Corp Bhd (MPC) will be developing the Asia-Pacific Trade & Expo City (APTEC), billed as the largest trade, exposition and distribution centre in the region at its flagship RM6.3bil Lakehill Resort City, in Johor.
Costing RM1.2bil to RM1.5bil, APTEC will have a four million sq ft complex on 23.5 acres and will be the anchor and key attraction for the proposed freehold Lakehill Resort City near the Port of Pasir Gudang.It will comprise a permanent global trade and expo centre showcasing wholesale consumer products, a shopping mall, two serviced apartment towers, a three-star hotel and office suites.
MPC chief executive officer Bill Ch'ng said APTEC would serve as a catalyst in the development of Iskandar Malaysia into a regional and distribution hub, targeting Asia-Pacific's population of 800 million.
"We aim to recreate in Malaysia a success story even better than that of Shenzhen-Hong Kong, with a similar strategic partnership for Iskandar Malaysia-Singapore synergy," he said at Cityscape Asia 2008 on Monday.
This was the first time that MPC showcased the 484-acre Lakehill Resort City (part of MPCB's 905-acre Nusa Damai at the eastern zone of Iskandar Malaysia) to the foreign investment and property market at the three-day business-to-business real estate exhibition.
Ch'ng said Iskandar Malaysia and Singapore had the potential to forge the same synergistic advantage as "Shenzhen and Hong Kong", which achieved economic success under their partnership arrangement.
APTEC is to generate over 50,000 direct jobs and more than 200,000 indirect employment opportunities in the supporting services and businesses, such as new products, manufacturing, financial services, banking and logistics.
"We are confident APTEC will be a platform for greater regional collaboration between Asean countries. It will also boost the influx of domestic and foreign investments into Iskandar Malaysia, thus bringing greater socio-economic benefits to Iskandar Malaysia and Singapore," Ch'ng said, adding that some parties had expressed interest in taking direct equities in Lakehill Resort City and APTEC.
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