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Sales for Iskandar Financial District in Malaysia started with great interest

United Arab Emirates: Tuesday, October 07 - 2008 @ 16:25

The press conference was attended by all partners, Board members and a number of prominent media representatives from local, regional and international publications. The Iskandar project is a multi-billion dollars financial district that will place Malaysia as an important Islamic financial center in Southeast Asia.

The IFD project provides a world class planned district for financial institutions, banks and corporate headquarters, commercial office buildings, shopping centers, condominiums and serviced apartments, 5-stars hotels, conferencing and meeting facilities as well as community service facilities. The project gains its importance from its unique geographical location at the crossroads of trade routes between the East and the West in a region that enjoys the availability of both air and land transportation services within Asia and the world. In addition, the project gains more benefits due to the presence of communication networks with high technology; also being close to Singapore – about 20 minutes by car – and being in the area between China and India whose economies witness a serious rapid growth, makes IFD a desirable location for investment.

Gaining global attention and recognition, while also being supported by the Malaysian government, The Iskandar Financial District will be the new heart of Medini Iskandar Malaysia, an integrated development area in the Iskandar Development Region, itself a premier economic growth region promoted by both the national and local governments as a strong and sustainable metropolis of international standing. It is the geographic midpoint between the booming economies of China and India, the emerging global super powers; it is a midpoint along an established trading corridor; and is at the same time easily accessible to the rest of the principal cities in Malaysia and within 20 minutes drive from Singapore; and by sea through the existing major seaport; and by the three existing and highly developed international airports. The project has gained attention from various media members, as well as investors from the GCC, Singapore and neighboring countries from South East Asia.

As the lead investors in the project, Global Capital, which is made up of a group of investors that includes Mubadala, Aldar properties PJSC from Abu Dhabi, Malaysia Ventures, which is a subsidiary of Saraya Holdings, Unity Capital, the United World Infrastructure (UWI) and Iskandar Investment Berhad of Malaysia, is committed to invest the necessary fund to ensure the successful development of the sites acquired within Medini Iskandar Malaysia.

“The vast attention the project already witnesses is associated to the efforts made by all parties involved on all levels,”

said Oussama Kabbani, Vice Chairman of the Board and Managing Director of Millennium Development International during the press conference.

The fact that Global Capital and Aldar properties PJSC from Abu Dhabi has partnered in such a project, guarantees an unprecedented success. Such an investment alliance will lead this project to become a major center for Islamic finance in South-East Asia.

It was also announced that the area the project is located at will benefit from an advanced environmental transport system and a railway road that would connect the area to the nearest airport. There is no doubt that the nature of the location adds more value to the place, as it is close to one of the greatest rain forests in the world; in addition to the existence of tropical mangrove trees, beautiful islands, beaches and high mountain with scenery nature.

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Tuesday, October 7- 2008 @ 16:25 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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