Aldar and Millennium to develop financial district in Malaysia

Aldar Properties and Millennium Development International will lead the development of the new multi-billion dollar Iskandar Financial District (IFD), located in the southernmost tip of Malaysia, adjacent to Singapore.

The development will be undertaken on behalf of Global Capital, an investment entity representing prominent Gulf and Malaysian Investors.

As the lead investor in Medini Iskandar, Global Capital - made up of a Mubadala consortium of investors that includes Aldar, Malaysia Ventures, Unity Capital, United World Infrastructure and Iskandar Investment Berhad - has collectively committed more than $848 million in the land and infrastructure development within Medini Iskandar.

The IFD will be the new heart of Medini Iskandar Malaysia, an integrated development area in the Iskandar Development Region, itself a premier econ-omic growth region promoted by both national and local governments as a strong and sustainable metropolis of international standing.

http://www.gulfnews.com/business/Real_Estate_Property/10247478.html