YTL Group mulls venturing into Iskandar

YTL Group mulls venturing into Iskandar

SINGAPORE - Malaysian conglomerate YTL Group had long resisted the urge to leap aboard the Iskandar bandwagon, but the company is now sizing up opportunities in the booming growth zone.

The family-controlled firm, whose property arm has sizeable high-end projects in Malaysia and Singapore, believes it will not be able to stay away from the area for long.

Mr Joseph Yeoh, vice-president of YTL Land and Development, told The Straits Times: "There are opportunities there and we are currently reviewing these.

"It would depend on many factors such as landbank and whether the project passes some of our internal hurdle rates."

The firm, which is mostly inclined towards the niche high-end real estate segment, had up to now not considered venturing into Iskandar given most of the projects there are large-scale ones, said Mr Yeoh.

Mr Yeoh, 27, is the third child of Mr Francis Yeoh, the man behind the diversified conglomerate spanning Malaysia, Singapore, Indonesia, China, Australia and Britain.

Iskandar has already attracted local and foreign developers in droves.

Its proximity to Singapore has been a strong selling point when pitching its appeal to buyers across the Causeway, so it's no surprise that Singaporeans are among the biggest foreign real estate buyers in Iskandar.

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