JCorp structuring financial, tax incentives for IIBD

JOHOR BARU: Johor Corporation (JCorp) is in the process of structuring and benchmarking financial and tax incentives with the state and federal governments to offer investors in the Ibrahim International Business District (IIBD) here.
President and CEO Datuk Kamaruzzaman Abu Kassim said IIBD’s strategic position could make it the next powerhouse in the Southern Gateway.
An entity to operate as the master developer, implementer and marketer will be set up in the bid to attract foreign and domestic investment as well as social and human capital, he said at the launch of the IIBD brand here.
The event was officiated by the Sultan of Johor, Sultan Ibrahim Sultan Iskandar.
Also in attendance were Tunku Mahkota Johor, Tunku Ismail Sultan Ibrahim; his consort Che Puan Khaleeda Bustamam; Tunku Temenggong Johor, Tunku Idris Sultan Ibrahim; and Tunku Puteri Johor, Tun Aminah Sultan Ibrahim.
Also present were Mentri Besar Datuk Seri Mohamed Khaled Nordin, Chief Secretary to the Government Tan Sri Dr Ali Hamsa and Johor State Secretary Datuk Ismail Karim.
The IIBD’s Spirit of Enterprise brand leverages four “HOME” goals comprising Heritage, Opportunity, Mobility and Eco-Sustainability.
IIBD’s gross development value is expected to hit between RM20 billion and RM25 billion, with commercial developments comprising about 51%, followed by open spaces (24%), institutional (24%), residentail (9%) and parking (2%).
The project, covering 101.17ha, is bordered by Jalan Tun Razak, Jalan Timur, Jalan Seri Lalang, Jalan Ayer Keroh and Persiaran Tun Sri Lanang. – Bernama