CapitaLand responds to ‘inaccurate’ reports on multi-billion Iskandar township project delay

The high-profile deal is still awaiting regulatory approval.

Yesterday’s headlines were flooded with news that CapitaLand’s mega Iskandar township project has been hit with delays, and that the mainboard-listed developer had asked for a half-year extension on the launch of its 900-unit high rise condominium.

But now CapitaLand is striking back by reiterating that media reports on the delay are inaccurate.

“CapitaLand wishes to clarify that the joint venture company is waiting for the relevant regulatory approval for Danga Bay project’s master plan. As regulatory approval has not been obtained, The Business Times’ report that we have sought a 6-month extension on the project is inaccurate,” said a CapitaLand spokesperson in response to a query from SBR.

Capitaland clinched the site in a high profile deal in February last year with other consortium partners including Temasek Holdings and Iskandar Waterfront Holdings.

The $3.2 billion Danga Bay project is CapitaLand’s first direct large-scale township investment and development in Malaysia.

The waterfront community has an estimated total gross floor area of 11 million square feet and will be built in phases over 10 to 12 years.