The project being developed by Riverside Terra Sdn Bhd, a wholly owned subsidiary of Iskandar Waterfront Sdn Bhd, focuses on clean-up and beautification efforts to turn the river into a 'Venice of the East' and make it a renowned riverine tourism destination.
Developed on a 21-ha site, it will transform the area with several attractions, among others, hotels, apartments and office suites that are equipped with open berthing facilities, retail shops and a 6km boardwalk on both banks of the river.
Iskandar Waterfront Holdings Sdn Bhd group executive director Lim Chen Herng said other development being planned was the construction of the two man made islands that have thematic features to reflect the ethnic and cultural diversity found in the state.
"Under the project, the river will be turned into a new tourist destination. It is no ordinary project but one that will become a new landmark," Menteri Besar Datuk Seri Mohamed Khaled Nordin said in the launch and ground breaking ceremony for the project, here yesterday.
"This is the first such island in the country where the Malays, Chinese, Indians and others could display their unique cultural heritage, customs, dances, traditions and art works for the sake of tourism," Mohamed Khaled said.
Meanwhile Mohamed Khaled in his speech said the project would become an important catalyst to the tourism sector in the Iskandar Malaysia Flagship A.
"Directly or indirectly, it offers significant benefits to the economy of Johor due to the diversity of tourism product components besides enabling local communities to raise their living standard," he said.
In a move to address fears of foreigners snapping up all available property, the state will designate international zones or housing development projects within Iskandar Malaysia.
Mentri Besar Datuk Mohamed Khaled Nordin said the state government had identified 2 areas for the international zones designated for foreigners and was finalising the details.
The plans would be publish to the public, either in July or August, and the public and developers would be invited to give their feedback.
“There are 2 areas that we want to present. The first part will be on the growth of the international area and the other related to our policies to control oversupply of service apartments,” he told reporters after launching the groundbreaking ceremony of The River City@Danga project by Riverside Terra Sdn Bhd, a subsidiary of Iskandar Waterfront Sdn Bhd.
“We have nothing to hide, and it will be a win-win situation for both sides,” he said, adding that the international zone would help increase the competitiveness of the Johor property market and protect local buyers.
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