The latest auto news, reviews, prices, product and vehicle releases. Dec
4th
Stay connected Subscribe to our RSS feed
Bloomberg's web site revealed Tuesday that a Malaysian billionnaire is planning to construct a motorsports-themed development, including a Formula 1-spec road circuit, in Malaysia's southern-most state bordering Singapore.
A statement issued Tuesday said that FASTrack Autosports Pte (a company owned by Peter Lim) will take a 70% stake in the joint venture valued at more than $1.2 billion with Malaysian developer UEM Land Holdings Bhd. holding the rest. The project, called Motorsports City, will cover 270 acres and include showrooms, garages and entertainment outlets, the statement said.
Lim -- a businessman -- is also a shareholder of McLaren Automotive Ltd., the road car disivion of the McLaren Group.
The 4.5 km Iskandar road circuit will be designed by a Formula 1 track designer, most probably Hermann Tilke, although his name was not mentioned in the press release.
The circuit would be ideally located just a five-minute drive from Tuas Second Link, one of two border crossings between Malaysia and Singapore.
This new circuit apparently will not interfere with the current Malaysian and Singapore F1 Grands Prix races, as it will be built primarily to suit the need for speed of local motorsport and sports-car enthusiasts.
A statement issued Tuesday said that FASTrack Autosports Pte (a company owned by Peter Lim) will take a 70% stake in the joint venture valued at more than $1.2 billion with Malaysian developer UEM Land Holdings Bhd. holding the rest. The project, called Motorsports City, will cover 270 acres and include showrooms, garages and entertainment outlets, the statement said.
Lim -- a businessman -- is also a shareholder of McLaren Automotive Ltd., the road car disivion of the McLaren Group.
The 4.5 km Iskandar road circuit will be designed by a Formula 1 track designer, most probably Hermann Tilke, although his name was not mentioned in the press release.
The circuit would be ideally located just a five-minute drive from Tuas Second Link, one of two border crossings between Malaysia and Singapore.
This new circuit apparently will not interfere with the current Malaysian and Singapore F1 Grands Prix races, as it will be built primarily to suit the need for speed of local motorsport and sports-car enthusiasts.