JOHOR BARU: Large development projects, such as the Princess Cove project in Tanjung Puteri, will provide job and business opportunities to the people, said Sultan of Johor Sultan Ibrahim Sultan Iskandar.
He said this would help the people enhance their economic standing.
“This project will change the landscape of Johor Baru and once completed, I am confident it will become a landmark in the city that people can be proud of,” said Sultan Ibrahim at the ground-breaking ceremony of the project yesterday.
Present were the Tunku Mahkota of Johor Tunku Ismail Sultan Ibrahim, Menteri Besar Datuk Seri Mohamed Khaled Nordin, R&F Properties chairman Li Sze Lim and co-chairman and chief executive officer Zhang Li.
The 46.94ha Princess Cove project by China-based property developer, R&F Properties Co Ltd, is an integrated development with a cosmopolitan marina that offers space for hotels, offices, parks, shopping malls, a club house and apartments.
It will incorporate a Grade A office tower, a 5-star hotel, commercial shopping complexes, high-end residences, and also a skypark that will become a signature landmark in Johor and Singapore.
Sultan Ibrahim said R&F Properties had recognised the potential available in the state by choosing Johor Baru as the location of its first overseas project.
An R&F Properties spokesman said the first phase of the project, which comprises of 3,200 units of apartments, was expected to be launched later this month.
“The response for the units have been very encouraging so far. Since we opened our sales gallery last month, more than 30,000 visitors, locals as well as those from Singapore, Australia and Indonesia, have visited the gallery.”
He said the project would be developed in four or five phases and was expected to be completed within the next seven to eight years.
“This is our first overseas project. We are also looking to invest in other states in Malaysia.”
The R&F Princess Cove project is located on the site of the former Tanjung Puteri Customs Complex.