RCSB, CCSB to start development in IDR

KUALA LUMPUR: Work is to begin soon on the Iskandar Development Region’s (IDR) three theme zones in Node 1, the flagship catalyst project to grow the first integrated international city there. 

Rim City Sdn Bhd (RCSB), the master concessionaire of Node 1, and Cultural Cluster Sdn Bhd (CCSB) have jointly announced that the definitive agreement is now effective. 

RCSB is a subsidiary of South Johor Investment Corp Bhd while CCSB is special purpose development vehicle majority owned by Al-Nibras 2 Ltd, a Labuan-based private fund company managed by Kuwait Finance House (Labuan) Bhd, which is in turn a wholly-owned subsidiary of Kuwait Finance House (M) Bhd.