The Johor Iskander region of Singapore will be getting an economic boost as Singaporean billionaire Peter Lim sets himself up to invest three billion dollars more into the region. Although Lim did not discuss the project in detail, he did hint that he is looking into a couple of projects in the area.
Peter Lim was the son of a fishmonger, but after studying accountancy at the University of Western Australia he went on to become a successful stockbroker and is now one of the Singapore’s richest people. He is estimated to have a fortune upwards of USD 1.5 billion.
Lim was speaking on the sidelines of the World Islamic Economic Forum in Johor Bahru and he said that his interest in the Johor Iskander region would be based on real estate. It was not disclosed as to whether the investment would be linked to commercial and residential properties or only acquiring land.
The billionaire is already developing a RM 10 billion Vantage Bay waterfront property in association with the Johor royal family. This investment is also in the Johor Bahru region and the new investment is said to be in addition to the current one.
On December 4, 2012, Lim announced that in association with FASTrack and UEM Land, he will be launching a joint venture to build a Motorsport city worth RM 3.5 billion in the Iskander region.