Tradewinds to commence its first property project in Nusajaya
Tradewinds Corp Bhd will received help from Mohamed Ali Rasheed Alabbar, the chairman of Dubaibased Emaar Group to commence on its first mega property project in Nusajaya, Johor, that will generate some RM18 billion in gross development value (GDV). According to sources reported in Business Times, through wholly-owned Tradewinds International Sdn Bhd, the company plans to kick-start the integrated township called 'One nu' by end of this year.
The development covering about 202ha will see a freehold integrated mixed-use upscale township in Nusajaya, Iskandar, which will be benchmarked against global world-class developments. Alabbar, who is also Tradewinds International chairman, will spearhead the project with the support of his hand-picked management team.
The first phase of the One Nu project is targeted for launch in the second half of this year and will see the introduction of private landed properties consisting of detached, twin-villas and cluster homes, and serviced residences and waterfront apartments. There will be over three phases to be developed with around 8,000 residential units upon project completion. Moreover, One nu's blueprint will also include commercial components from an expansive retail mall, exclusive hotels and various health and wellness facilities.
According to property agents familiar with Iskandar projects, One nu will be able to fetch an indicative GDV of close to RM18 billion when fully completed, excluding the commercial portion, such as from rentals and terminal value from income-generating assets.
Meanwhile, according to information on its website and recent reports, Tradewinds International has several integrated development projects in Malaysia such as Perdana Quay in Langkawi, Tradewinds Centre at the former Crowne Plaza Mutiara Hotel Kuala Lumpur site and Kompleks Antarabangsa in Jalan Sultan Ismail and the redevelopment of Menara Tun Razak and Belfield, a high-rise residential development adjacent to the former Istana Negara.
Emaar Group was responsible for some of the most iconic landmarks and prestigious master planned communities globally, including the world's tallest building in Dubai, the Burj Khalifa and the shopping and entertainment destination, The Dubai Mall. The website states how 'through Alabbar's guidance and leadership, Emaar has also played a key role in shaping Dubai's residential and lifestyle districts.
The developer is now synonymous with some of the most iconic and commercially noteworthy master planned projects that have come to define Dubai as a world-class cosmopolitan city'. The Dubai Marina is a perfect example, being one of the world's largest man-made waterways and home to more than 100,000 residents.
'The success of these projects stems from an astute understanding of the market, and the same philosophy will be applied to the One nu development in Nusajaya,' a source said. Image Source: gulfbusiness.com Farah Wahida, Editor of PropertyGuru, edited this story. To contact her about this or other stories email firstname.lastname@example.org