Rowsley to turn Iskandar project into healthcare cluster

Peter Lim's real-estate vehicle is to develop a specialist hospital and long-term care facilities among other things

Published Tue, Sep 22, 2015 · 09:50 PM

Singapore

BILLIONAIRE Peter Lim's real-estate vehicle Rowsley has decided against waiting for the Iskandar residential market to recover.

Citing "prevailing market sentiment" and a "strong pipeline" for the residential segment there, the firm announced on Tuesday that it now intends to turn its long-delayed mega Vantage Bay project in Johor into a cluster of healthcare-related facilities with an expected total development value of RM5 billion.

This figure is slightly less than the previous RM5.5 billion estimate for Rowsley's original plan for the 9.23 ha Vantage Bay, which was to have been an integrated development comprising a 75…

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