Peter Lim has announced that is planning to build a motorsports-themed development to be called Motorsports City in the Iskandar development zone in the Malaysian state of Johor, just across the water from his native Singapore. The Iskandar development will span 2,200 square kilometres of land around the city of Johor Bahru. As part of the development Lim says there will be a Formula 1-spec test facility. Lim’s FASTrack Autosports Pte will own 70 percent of the $1.2 billion joint venture, with the remaining shares being owned by Malaysian developer UEM Land Holdings.
The project will cover 270 acres and include showrooms, garages and entertainment outlets. It will be 2.8 miles in length and will have a 0.9-mile karting facility attached. The facility will be located at Nusajaya, close to the Second Link Bridge, one of border crossings between Malaysia and Singapore.
“The region is fast becoming a hub for motor sports,” Lim said.
Lim is a shareholder of McLaren Automotive Ltd.