SHANGHAI-based property giant Greenland Holdings Group is expected to replicate the concept of its flagship integrated development project called Greenland 21 at Iskandar Malaysia.
The Fortune 500 company is finalising the acquisition of a 52ha plot in Permas Jaya, Johor Baru, for the project.
This waterfront project marks Greenland’s second venture in Iskandar Malaysia, after its low-density Jade Palace condominium development located at Danga Bay on the western side of the causeway.
Speaking here recently, group executive vice-chairman Xu Jing said Greenland was confident with its investment in Iskandar Malaysia, which is its first in Malaysia as well as Southeast Asia.
He said Greenland 21 started from a vacant plot in 2005 and today, it has turned into a suburban landmark 25km from Shanghai.
“In fact, more than 95 per cent of the property units in Greenland 21 are owned by residents in Shanghai,” he said.
Greenland 21, located in the Huaqiao International Service Business Park, is spread over 1,600ha and features commercial, office and residential developments.
It is deemed as a decentralisation project that seeks to encourage Shanghai residents to relocate there to cushion the impact of escalating property prices and land scarcity in China’s financial capital.
Greenland 21 is divided into four zones to cater to the needs of the younger generation, the business community, senior citizens and those looking for sports and recreational activities.
Xu said Greenland is interested in investing in other cities in the region.
He said the group, which went global in 2012, had penetrated the real estate markets in Europe, the United States, Australia and South Korea last year.
“After Iskandar Malaysia, we plan to go to the Klang Valley. If the conditions allow us to do so, we plan to build an iconic building there,” he said, hinting that it was likely to be a skyscraper.
Greenland is known as a builder of skyscrapers, with three of its towers ranking among the 10 tallest in the world.
The three are the Wuhan Greenland Centre (606m), the Dalian Greenland Centre (518m), and the Chengdu Greenland Centre (468m).
Greenland also has interests in real estate, coal mining, finance and automobiles.
~ By BUSINESS TIMES
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