Khazanah, Temasek to Develop $9.8 Billion of Property Projects
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Khazanah Nasional Bhd. and Temasek Holdings Pte, the state-owned investment companies of Malaysia and Singapore, will jointly develop $9.8 billion of projects in southern Malaysia and downtown Singapore.
The S$11 billion ($8.8 billion) Singapore developments will include hotels, apartments, offices and shops in 501,020 square meters (5.4 million square feet) of space in two main areas of the city’s downtown, the two companies said in an e-mailed statement yesterday. The 3 billion ringgit ($980 million) project in Malaysia’s Iskandar region will have homes, retail space and “wellness-related offerings,” they said.