Billionaire Lim to Build Race Track City Bordering Singapore
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Billionaire Peter Lim said he plans to build a motorsports-themed development, including a Formula One-compliant racing test track, in Malaysia’s southern-most state bordering Singapore.
Lim’s FASTrack Autosports Pte will take a 70 percent stake in the joint venture valued at more than 3.5 billion ringgit ($1.2 billion) in the Iskandar development region of Johor state, with Malaysian developer UEM Land Holdings Bhd. holding the rest, according to a joint statement today. The project, known as Motorsports City, will cover 270 acres and include showrooms, garages and entertainment outlets, they said.