Living in JB

[lastresort]

hello all,
there is this high-rise building, seemed abandoned, in JB,
picture at,
http://www.flickr.com/photos/47787076@N07/6381976907/in/photostream
Does anyone know of the history,..etc,..what happened ?
how much will it cost - to take over such a project ? T
thanks

That is the abandoned RM300mil Pacific Mall near Bukit Cagar. Owners who purchased individual lots at the shopping centre are crying foul over the loss as they are still servicing bank loans for the failed project. Restoration cost has increased from RM10mil to RM50mil. The mall's construction was stopped in 2000 due to management issues.

In 2008, those who purchased the lots are fighting a legal battle with the bank to prevent their lots from being auctioned. But apparently, the banks seems to be holding on to the property as prices has gone up quite a lot.

 

[lastresort]

I am also thinking about buying a place there albeit not so high end like HH
or EL but i am considering Bukit Indah. The terrace houses there seems
fairly reasonable. Plus my dad a Malaysian so I was thinking I could get places below 500k def. It not for investment purpose but for staying. I*would like my parents to retire there. †he properties there are developed by SP Setia.

I would like to ask its it feasible to get a place there? And how the security over there at bukit indah? Cos i think i would be in Singapore most of the time but i will try to shuttle to & fro and i will be worried about my parents' safety.

Hope anyone can advise!

Thanks a mil!

Hi Fang65,

it is definitely feasible to get a place there and stay. Many forumers have done so and are commuting in and out on a daily basis, some of our forummers also have kids studying in Singapore but do not mind waking up early to travel to Singapore. The place is relatively safe as compared to many parts of Johor and is a good place to retire due to its convenience factor. Setia is quite a trusted developer. For security issues, you need to check, because for different precincts and phases, security level can be different. Some old precincts are not gated, and they only have a few guards at the guard house and anyone can just enter the precinct compound. However some are more guarded and gated and require pass to enter.

You can also consider Nusa Duta and Nusa Bestari as these are also decent developments next to Bukit Indah. Some of the Setia units in Bukit Indah may be located even further away from the commercial areas than Nusa Duta and Nusa Bestari. So do find out more from these 3 developers what units they have and their locations.

 

[lastresort]

I asked an exec in a small S'pore property firm what he though about Iskandar. He replied that things tend to be slower in Malaysia, but Iskandar is different from other JB properties because of the massive investment from Khazanah, overseas investors (SG included). Interestingly I asked around friends including a few Malaysians -- none of them would consider investing in Iskandar, and thought it was crazy to own a property there. Perhaps many are hung up by CLOB and other bad experiences they heard about Malaysian property. Of course there is massive capital appreciation elsewhere, esp KL-- One of my friends bought an apt in Desa Parkcity, and it has appreciated about 100% in the last 3 years.

I stumbled on this thread while searching for information on Iskandar, and the posts here are quite encouraging. It makes sense that Nusajaya will be relatively successfully regardless of how the rest of Iskandar does, due to the sheer number of projects and attractions in Nusajaya. It will take time, but it does look like Iskandar will take off. Will prices double in 5years? I don't know, but there is a higher chance of that happening here, than in S'pore.

P.S. I'm keen to buy a terrace house in Nusajaya but it seems all are sold out some time back. Where else should I look?

Yes many people are still emotionally affected by CLOB, my parents do have friends who have lost a lot of their savings at that time. I think it will really take a while before people change their perception. Why World War 2 only happened a few decades ago, but nowadays this generation of Singaporeans don't see the hardship their grandparents have gone through and are crazy over the J culture.

 

[lastresort]

I suddenly get the deja vu feeling answering questions on this forum as though I have said something wrong but repeated it again.

 

[lastresort]

When I ask them "malaysia iskandar is doing very well, interested to invest on property"?
They come out with negative answer such as "can meh", "safe bo", "malaysia house must wait till you see the shape liao then can buy"!!
I told them if really inteested then make a trip look look see see and gather more information on the progress.

it's good that they have at least asked, "can meh". I've done this several times but all I get is people talking bad and laughing behind us thinking we can't afford to live in Singapore and wants to act smart.

 

[lastresort]

Yup I have 2 friends, a Singaporean and a Malaysian, who uses the 2nd link almost daily but when I asked whether or not they know about Nusajaya, they said that they have no idea and that there should be nothing there.

Two other friends doing their own biz in JB city are interested in Nusajaya since last year but have yet to visit the place till today.

Many Johor Bahru natives especially those living in the older tamans still do not know much about Nusajaya, they may have heard stories from their friends and relatives, but many of the older generation do not care much. They think the government is spending a lot of tax money to build a new city to rival the downtown JB sentral which they think should be the only city centre in Johor. They think the government should spend more to upgrade and improve the existing infrastructure in JB. The condition in JB sentral is very bad and the government seems to be neglecting them, but spend so much to build a completely new city not to their benefit. They think the new city only caters to the new residents and is there to attract more outstation citizens and Singaporeans. They think Singaporeans are the ones who are driving up the property prices and the Najib admin is the one making money out of this Iskandar development.

They have lost all faith and trust due to the never ending flip flopping polices, so much that they do not care to find out more about what is going on in their state. Sometimes it is not that they do not know about Nusajaya, it is that they don't want to find out more, especially so for the older gen.

However, this time we are taking a risk and if this time the Najib admin is serious, as I believe they are since they have invested a lot and Singapore is involved, I think they are able to win back the trust and support of many over time.

Over time, perceptions will change and it can get a lot better in a short time. See what has happened a few decades after World War 2, now Singapore kids are so in love with Jap culture.

 

[investjb]

Hi InvestJB bro,

thanks for adding your name to the list, you seem to have invested mostly on highrise apartments and condos =) The developments you have chosen are definitely on the safe risk level side. =)

Hi lastresort,
Ya. try to get more prop below 400K for some rental income with lower risk. but only at selective locations. so must choose carefully

 

[Investor]

Hi Lastresort,

Is Nusa Bestari a different development from Bestari Heights?

 

[yonglip]

Many Johor Bahru natives especially those living in the older tamans still do not know much about Nusajaya, they may have heard stories from their friends and relatives, but many of the older generation do not care much. They think the government is spending a lot of tax money to build a new city to rival the downtown JB sentral which they think should be the only city centre in Johor. They think the government should spend more to upgrade and improve the existing infrastructure in JB. The condition in JB sentral is very bad and the government seems to be neglecting them, but spend so much to build a completely new city not to their benefit. They think the new city only caters to the new residents and is there to attract more outstation citizens and Singaporeans. They think Singaporeans are the ones who are driving up the property prices and the Najib admin is the one making money out of this Iskandar development.

They have lost all faith and trust due to the never ending flip flopping polices, so much that they do not care to find out more about what is going on in their state. Sometimes it is not that they do not know about Nusajaya, it is that they don't want to find out more, especially so for the older gen.

However, this time we are taking a risk and if this time the Najib admin is serious, as I believe they are since they have invested a lot and Singapore is involved, I think they are able to win back the trust and support of many over time.

Over time, perceptions will change and it can get a lot better in a short time. See what has happened a few decades after World War 2, now Singapore kids are so in love with Jap culture.

I share similar views bro...It wont take long before a paradigm shifts happens among the locals...it will happen when Legoland is up and running, the first real catalyst...johoreans will then start to realise the huge potential of their own backyard.

cheers.

 

[lastresort]

Hi Lastresort,

Is Nusa Bestari a different development from Bestari Heights?

Bestari Heights is actually part of the bigger Nusa Bestari which stretches from near Sutera to Bukit Indah. =)

 

[lastresort]

Hi lastresort,
Ya. try to get more prop below 400K for some rental income with lower risk. but only at selective locations. so must choose carefully

Yeah I agree, that's the way. =) good job brother!

 

[investjb]

Yeah I agree, that's the way. =) good job brother!

waiting for 1medini. some how it keep delaying. hmm. not a good sign

 

[lastresort]

waiting for 1medini. some how it keep delaying. hmm. not a good sign

I believe it is only due to the middle east investor problem. Same as Singapore's South Beach project before they quit the venture.

 

[lastresort]

I share similar views bro...It wont take long before a paradigm shifts happens among the locals...it will happen when Legoland is up and running, the first real catalyst...johoreans will then start to realise the huge potential of their own backyard.

cheers.

yeah so our risk is quite calculated and we do see Legoland and Educity progressing well. Can't wait to visit Premium Outlet Store, another major project completion.

 

[spidey]

waiting for 1medini. some how it keep delaying. hmm. not a good sign

Medini got <400k?

 

[yonglip]

yeah so our risk is quite calculated and we do see Legoland and Educity progressing well. Can't wait to visit Premium Outlet Store, another major project completion.

ya bro. but JPO, educity will only draw a select or niche crowd to the place..however an international theme park will draw bus loads of families (those with kids, grandkids, newphews/nieces) to this part of johor....thats when johorean, some of who have never even left their kampung until now will start to see what is actually happening to this part of town...thats why i call Legoland a real catalyst..

cheers.

 

[wuqi256]

Thanks for the questions and thanks to the bros helping with them.
I am just a nobody and hope to be a recluse in peace.

On a sad note, someone just highlighted to me this:

Bro,
Seems like you no longer have to cross the causeway to die, you can die just as easily back here, worse still died in no head no tail fashion.
Luckily they caught the guy involved.
http://sammyboy.com/showthread.php?104937-Ah-tiong-FT-is-Yishun-triple-murderer&p=886188#post886188

 

[Investor]

waiting for 1medini. some how it keep delaying. hmm. not a good sign

I believe it is only due to the middle east investor problem. Same as Singapore's South Beach project before they quit the venture.

Maybe they're holding till next year so as to sell at higher price when Legoland and Lifestyle Mall are ready?
There are way too many investments in this part of Medini, called Medini Lifestyle(Northern part of Medini), where 1 Medini is located. Moreover, infrastructure of Medini Lifestyle is almost 100% completed. Thus, I don't see any bad sign at all, just super bullish signs for this area.

Some of the committed developments in Medini Lifestyle(Northern part of Medini) includes;
Legoland
Lego Hotel
Lifestyle Mall
Gleneagles Hospital
1 Medini
Medini Square
Boutique Town Residences
Primary Trust School
KIDZ Komos - a purpose-designed children-themed edutainment centre and luxury condominiums
Urban wellness development by Khazanah and Temasek

Take note that all above developments are located in just the northern part of Medini called Medini Lifestyle. We haven't include Medini Business, Medini Central and Medini Living yet. Which other part of Iskandar has received so much investments?

 

[wuqi256]

Many Johor Bahru natives especially those living in the older tamans still do not know much about Nusajaya, they may have heard stories from their friends and relatives, but many of the older generation do not care much.
Over time, perceptions will change and it can get a lot better in a short time. See what has happened a few decades after World War 2, now Singapore kids are so in love with Jap culture.

Something is changing, i see more and more rich Johoreans buying houses. Seems they realised what they were sitting on now. Getting lots more people asking me about their own neighbourhood and helping as much as i can. I guess they saw something different this time and its not only their government involved but that of some others as well.

Indeed, having been to Japan so many times and despite working there for a short time, never really wanted to learn their language. Only short survival and meeting phrases.

I still prefer to speak in Mandarin or Hokkien to those close to me. I speak Hokkien/Broken Teochew/Broken Cantonese/Mandarin to my closest friends and family. They are unfortunately just too eager to diss or dismiss their own culture, forgetting that much of what is in Japan was borrowed from the Chinese in the first place. This extends to more than just culture, even medicine. Only when accupunture was accepted by the west did many Chinese even begin to accept it.

They don't even realise that as recent as a couple of hundred years back, blood letting in western medicine, etc was still very common.

 

[Investor]

For those who are interested to know more about Medini, here's a good read.