OREANDA-NEWS. Mitsui & Co., Ltd. has acquired, through a Mitsui subsidiary, a 19.99% ownership stake in Medini Iskandar Malaysia Sdn Berhad ("MIM"; Head office: Malaysia), a company engaged in urban development of the Medini district in Johor State, Malaysia.

Through its wholly-owned holding company (hereinafter, "Mitsui Subsidiary"), Mitsui acquired a 14.99% stake of MIM shareholdings from Iskandar Investment Berhad ("IIB"; Head Office: Malaysia; 60% of IIB shares held by Malaysian government-owned strategic investment fund, Khazanah Nasional Berhad) which owns 75% of MIM, and acquired an additional 5% stake of MIM shareholdings from United World Infrastructure LLC("UWI"; Head Office: United States of America), an urban development company which owns 25% of MIM.

MIM engages in land development in the Medini district, occupying a tract in the Iskandar Project, a project led by the Malaysian government since 2006. MIM owns approximately 132 hectares (roughly 28 times the size of the Tokyo Dome) of the Medini district which covers approximately 908 hectares (roughly the land area of Chuo Ward, Tokyo, which is about 1,105 ha).The Iskandar Project region itself is approximately 220,000 hectares (about the size of the City of Tokyo, which is 219,000 ha).

MIM undertakes the land development, sales and leasing, as well as infrastructure building and potential operations of the Medini district owned by the company, and is committed to developing attractive urban areas in the district.

Speaking of the urban development, it has already begun in the Medini zone, with the tract now hosting LEGOLAND Malaysia, Southeast Asia's first LEGOLAND theme park. The Iskandar region is attracting a great deal of interest in terms of prospects for future development, given its location adjacent to Singapore which is situated in the center of the rapidly growing Southeast Asian region. Moreover, in line with its plans to achieve sustainable economic development of the Medini zone, MIM is setting out to create new service ventures as it works toward developing infrastructure incorporating environmentally-oriented smart technologies.