CapitaLand to shell out cash for man-made island in Malaysia

The 28.33ha project is reportedly worth RM4-5b.

According to OCBC, it was reported in news yesterday that Capitaland Malaysia Pte Ltd, along with Temasek Holdings and Iskandar Waterfront Holdings Bhd, would buy and develop a 28.33ha man-made island at Danga Bay into a mixed integrated development, comprising high-rise residences, landed homes and retail centers.

"The total development cost for the project is reportedly RM4-5 billion. We note that the group has not made an announcement via SGX, and the extent of CapitaLand’s involvement in the project is still unclear," OCBC said.

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