Malaysian king’s son taps billionaire Peter Lim’s RSP to build $ 200 million estate

Singapore located RSP -architects, planners and engineersA draft agency owned by the Singaporean billionaire Peter Lim, said it was drained by Ismail, the Regent van Johor (Roj), to develop a vast estate on the water that will be the private home of the royal family, in the coastal city of Desaru in southeastern Malaysia.

“This collaboration has a special meaning, formed by years of mutual respect and understanding between our families,” said Kiat Lim, 32, chairman of RSP and son of Healthcare Peter Lim, in a statement. “To bring such an important and personal project to life on this iconic coastline is a rare privilege.”

The residential estate costs more than $ 200 million to develop, will be built in the 27-Hectare building of the Royal Family in Desaru and is expected to take four years to complete, according to the statement. Apart from the villa of the royal family, it has guests, a children’s club and sports facilities. It will also have an underground shooting range and the arsenal for a maximum of 100 soldiers who serve in the safety of the Roj.

“This property is more than a home,” said Ismail, 41, the eldest son of the Malaysian king Ibrahim Iskandar, in the statement. “It is a reflection of family, heritage and partnership. The collaboration with RSP is not only built in the field of excellence, but on the immediate family relationship I shared with Kiat and his father.” Kiat and the Regent share a passion for football. Kiat leads the Spanish football club ValenciaWhile Ismail is the president of the Football Association of Malaysia.

The royal family has huge pieces of land in the ISKANDAR region in the southern Malaysian state of Johor, an area that jointly develops Malaysia and Singapore as a special economic zone. De Roj supervises the development of the heritage properties of his family.

In June, De Roj agreed to exchange 13 hectares of the land of his family in Singapore Botanic Gardens for a nearby 8.5-Hectare Staatsland of Equivalente Value, according to the urban redevelopment authority. “The government of Singapore and the Roj have agreed to undertake a land change, so that the planned developments of the Roj will be further away from the Botanic Gardens in Singapore,” Ura said.

Earlier projects of RSP are the jewel on Changi Airport (in collaboration with Safdie Architects) and the Armani Hotel & Residences Diriyah in Saudi Arabia. Turnover is expected to be higher than S $ 100 million this year, an increase of S $ 92 million in 2024. With a net value of around $ 1.8 billion, LIM is one of the richest in Singapore with interests in Singapore-listed hospital operator Thomson Medical and Spanish football club Valencia.