KUALA LUMPUR: HOMEVEST Sdn Bhd and R&F Group have signed a memorandum of understanding to enter into a strategic partnership for megaproject Princess Cove.
The 116-acre Princess Cove sets the benchmark for urban living as the iconic development, strategically located next to Johor ICQ and the Woodlands Causeway, will entice both locals and international investors.
The commercial mixed development, which straddles both sides of the Causeway to Singapore, serves as a landmark at the national gateway of Singapore and Malaysia. More importantly, it sets a new standard as a place for work, live, play and investment opportunities on a scale unlike any other.
The components include hotels, offices, parks, shopping malls, clubhouses and apartments where everything you need is within walking distance. This project is an important landmark benefiting both local and international markets.
Recently, Ekovest announced it would take over the EPC job in the RTS Link project for RM1.98bil. The RTS Link is a railway shuttle line of about 4km between Bukit Chagar, Johor Bahru and Woodlands in Singapore, with a capacity to ferry 10,000 passengers per hour per direction. It is slated for completion by the end of 2026 and it will cross the Straits of Johor within five minutes.
About 300,000 Malaysians commute daily for work in Singapore and with the completion of the RTS Link, traffic congestion is expected to ease as more daily-travel workers may opt for an alternative solution to cross the borders quickly and conveniently.
As the international travel restrictions were lifted months ago, there has been a surge in demand for the rental market. As the journey between the two countries is made more convenient through the RTS Link, there will be more Malaysians seeking employment in Singapore. In addition, some Singaporeans may purchase property in the Southern region for investment or as a holiday or as a retirement home for the near future.
”As HOMEVEST exists to make property investment and home ownership simple, enjoyable, profitable and sustainable, with this partnership we seek to unlock the value for Princess Cove to meet the demands of homeownership among local and international buyers. We understand the importance of urban living as homeowners can benefit from it which makes living more efficient, productive and sustainable while enjoying greater social connectivity within the community,” said HOMEVEST group managing director Datuk KY Lim.
“We are delighted to be the strategic partner of HOMEVEST and we look forward to this new partnership. It has always been our goal to work closely with Malaysia’s reputable property company and to make property investment and home ownership accessible to more Malaysians,” said R&F Group vice general manager Xu Jie.
Also present at the MoU signing ceremony were R&F Group sales manager, Wang Son Kim and HOMEVEST chief executive officer Datuk Marcus Low.
Early this year, HOMEVEST was successfully listed on the 1exchange (1X) platform, Singapore’s first private securities exchange regulated by the Monetary Authority of Singapore. It was also recognised by the Malaysia Book of Records as the first Malaysian property company listed on 1X.