UEM Sunrise Bhd and Kuala Lumpur Kepong Bhd will jointly develop two projects in Iskandar Malaysia, Johor generating RM20 billion in gross development value.

The first project is the 2,500 acres Fraser Metropolis, which will comprise residential, industrial and commercial properties worth RM15 billion to be developed over 15 years.

The second development is the 500 acres Gerbang Nusajaya featuring residential and commercial properties worth RM5 billion to be developed over eight years.

Both parties formalised two separate agreements today for the planned joint venture developments.