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Leisure Farm Community
- Thread starter Jogs1
- Start date
I must say the Enclave in KL look super sexy. Shame they don't use the same design style for the Bayou Creek. Never the less well done Mulpha.
I agree. Enclave looks nice but the price 13.3 to 14 million kind of steep too
thats becos its in bangsar.
Well you get what you pay for. Still lots cheaper than Bukit Timah Bungalow.
So, not much of surprise then.
I would say the rise from last year at MYR60-80 per sq ft to MYR130-168 range is already a 100% increase. That's giving me cause for concern as the price is currently running ahead of what might be sustainable. The higher it goes, the riskier it gets. Would be better to have price rest around MYR100-120 for a while for market to digest the recent brisk rise. Just my personal take on this.
Leisure Farm bungalow lots in Iskandar Malaysia sold out
Posted on July 29, 2013 - Property News.
Lee Seng Huang
PETALING JAYA: Due to overwhelming response, 10 pre-selected bungalow lots in Leisure Farm Resort, Iskandar Malaysia was sold out with over 30 bids received.
Successful bidders secured the units around 10% to 15% above the reserve price, with about half of the total sale of RM50mil to Malaysians and the balance to overseas buyers.
Leisure Farm Corporation Sdn Bhd, a wholly-owned subsidiary of Mulpha International Bhd, said in a statement that there was a surge in demand in the first six months of the year, with land prices increasing by 40% to 70% depending on the precinct and topography of the lots.
“We are overwhelmed by the strong reception,” Mulpha executive chairman Lee Seng Huang in a statement.
The reserve price of the lots ranged from RM2.03mil to RM6.93mil, or RM115 to RM150 per sq ft.
October will see the launch of a further 57 units of canal-front bungalows and eco-themed semi-Ds, Bayou Creek, Precinct 7B in the same area.
Posted on July 29, 2013 - Property News.
Lee Seng Huang
PETALING JAYA: Due to overwhelming response, 10 pre-selected bungalow lots in Leisure Farm Resort, Iskandar Malaysia was sold out with over 30 bids received.
Successful bidders secured the units around 10% to 15% above the reserve price, with about half of the total sale of RM50mil to Malaysians and the balance to overseas buyers.
Leisure Farm Corporation Sdn Bhd, a wholly-owned subsidiary of Mulpha International Bhd, said in a statement that there was a surge in demand in the first six months of the year, with land prices increasing by 40% to 70% depending on the precinct and topography of the lots.
“We are overwhelmed by the strong reception,” Mulpha executive chairman Lee Seng Huang in a statement.
The reserve price of the lots ranged from RM2.03mil to RM6.93mil, or RM115 to RM150 per sq ft.
October will see the launch of a further 57 units of canal-front bungalows and eco-themed semi-Ds, Bayou Creek, Precinct 7B in the same area.
Mulpha is aggressively marketing their leisure farm bungalow lots.By October the new access road should be almost completed and can expect them to market phase 2 of bayou creek semi dees and bungalows just as aggressively. I think the response will just be as overwhelming esp with the ringgit weakness.
is the townhouse wotth buying at 800k? i heard they aer digging the new access route to medini but was told it is not cfm whether it will be opened subject to govt approval. my question is why dig it when it is possible that it may not be opened up for access in future?
those foreigners must be young and have grown up ignorant, not knowing that a lot of super rich in SG originated from Penang, Ipoh, Malacca, KL, Medan, Surabaya and Jakarta. It is called "first world mindset", like a lot of Americanoes know nothing beyond their states, not to mention beyond their shores.
Read the part about leisure farm. Very exciting news about the new launches there.*
Simplifying the way Mulpha works
I like property development because you are leaving your mark on this world that people can enjoy and look forward to," says Mulpha International Bhd's executive chairman Lee Seng Huang.*
Lee, who is in his late thirties, helms one of the most recognised companies here, which today has a presence in Malaysia, Vietnam and Australia.*
Mulpha International was listed on the Kuala Lumpur Stock Exchange in 1983, and has been involved in a diverse number of businesses. But in the last few years, under Lee's leadership, it has offloaded non-core assets to better focus on high-end property development, property investment and property-related businesses.
"Mulpha International is becoming more of an investment house — you could even call it a hedge fund, and what we do is we invest in businesses and companies that are involved in certain sectors," Lee explains.*
"What we have been trying to do is simplify Mulpha International's business. We have got rid of all non-core assets like the trading businesses, crane hire business and even an industrial paint business in China.*
"All this leads to a further simplification of the business, which allows you to hire the right people to focus on a particular field, rather than trying to find someone who is a jack of all trades and master of none."
The restructuring exercise is at its tail end. One of the remaining assets to be disposed of is a 1,000-acre tract in Sepang, Selangor, for low to medium-end products, which no longer fits the company's plan of developing high-end products.*
The group recently purchased 6.41 acres adjacent to the Tropicana Golf & Country Club in Petaling Jaya, from Tropicana Corp Bhd for RM116.1 million. Its property division, Mulpha Land Bhd, has plans for a mixed-use development, with an estimated gross development value (GDV) of RM700 million.*
"We are reactivating Mulpha Land and rationalising all our developments under the company. Mulpha International will be an investor in Mulpha Land," says Lee.
Mulpha Land was a "sleepy" company, but has become more active, thanks to projects like Enclave Bangsar, which features seven exclusive bungalows with a GDV of RM94 million, he explains.
Lee clarifies that the massive Leisure Farm project in Iskandar Malaysia, Johor, will not come under Mulpha Land, as it is too big and will swallow it up. Mulpha Land will be positioned as a high-end branded developer.
"We will bring our international expertise to the local development scene," Lee says. "A lot of people probably don't realise how 'international' Mulpha is, and we are trying to bring that experience and knowledge to the Malaysian market by offering high-end aspirational products and creating a brand out of them."
Moreover, new blood has being injected into both Mulpha Land and Mulpha International, says Lee. "We have changed management and hired younger people like Ghazi Yeoh Abdullah [executive director of Mulpha Land]. The team is also being reinvigorated.*
"Mulpha International too has hired new people. Previously, Australia had its own management team, and there was very little cross-pollination between the group's businesses. Now with some management changes, the group is more integrated. So in the future, people will understand that Mulpha International is not only a Malaysian company, but also a large developer overseas."*
The head office will still be in Malaysia, he adds.*
Leisure Farm
Mulpha International's 1,765-acre Leisure Farm development in Johor, is beginning to bear fruit. "We are accelerating [the development] at Leisure Farm, which has been going slowly for many years, deliberately because we didn't think the market was right. Now we see that the market and pricing are there," says Lee.*
In July, 10 pre-selected bungalow lots at Leisure Farm brought in RM50 million via a tender process. The reserve price ranged from RM2.03 million to RM6.93 million (RM115 psf to RM150 psf).*
"Previously, people didn't appreciate the scarcity of land at Leisure Farm. They thought it was an endless resource because the development is very large," Lee says.*
"By putting lots up for tender, they will realise that there are not many remaining lots left at Leisure Farm. And it is a rare product — in the entire Iskandar Malaysia, there are no one-acre lots. This could be the Damansara Heights, the Bukit Tunku or the Nassim Hill [in Singapore] of Iskandar.*
"So I came up with the plan, with our marketing people. Let's keep it exclusive. We don't really want to sell undeveloped land, as we want to sell developed products. But we still get a lot of requests for bungalow lots, so we are balancing that — every year, we will release an X number of lots and people who have registered can tender for them. It is a much more transparent system as well, because it is the fairest way to sell."
At the close of bidding on July 28, all the lots had been sold. There were 30 bidders, and half of the successful bidders were Malaysians.
"We chose 10 lots from different precincts, to give buyers variety," says Mulpha International's deputy CEO Ronn Yong. "The one-acre lots are the most prime, and we are the only development with 'Good Class Bungalow' or GCB status, which is a Singapore-based standard for similar bungalows in prime areas such as District 9 and Orchard Road."*
In the future, Mulpha International plans to build and sell products and not sell bungalow lots anymore, he adds.
Meanwhile, thanks to the "Iskandar effect", property values are increasing across the board in the region. Lee believes that as conditions improve, values could go up even further.*
"I have seen it before in Shenzhen and Hong Kong," he says. "The key was getting the Malaysian and Singaporean governments to work closely together. That was the missing ingredient before. But once they started working together, the development of Johor sped up.
"Shenzhen used to be very cheap compared with Hong Kong, but now property prices there are a third of those in Hong Kong. "
New launches at Leisure Farm in October include its Bayou Creek Precinct 7B, which comprises 17 canal-front bungalows and 40 eco-themed semi-detached houses. Also to be launched at the end of this year or early next year, is the Bayou Gardens project, which will feature waterfront semi-detached homes and superlink villas.*
Australia
Mulpha International's resort development Sanctuary Cove — the group's other big property development in Australia's Gold Coast, is a significant project. It is a 1,171-acre integrated residential resort that includes two world-class golf courses, four harbours and 15 restaurants and cafés.
Lee says the group will continue to launch bungalow lots at the development. Meanwhile, there is a joint venture to build a medium-density product with Sunland Group — an Australian company that developed the Versace Hotel in Gold Coast, at the entrance of Sanctuary Cove.*
"Gold Coast has gone through a tough period," Lee says. "Post-global financial crisis, there was a correction, but a lot of the distressed stock has been sold. The banks have sold the loans, and the funds that bought the loans have sold the products. So the market is clear now.
"The overhang is down to a few hundred units in Gold Coast, and Brisbane is picking up strongly. As a result, I think Gold Coast prices are starting to climb and we've seen enquiries, demand and transactions come back very strongly compared with the past few years."
Mulpha International is also active on the retirement-home front via FKP Property Group. "We are streamlining FKP," says Lee. "I think FKP is a very misunderstood company because it has such large retirement and development portfolios. Investors are confused — do they invest in this company because of the retirement or the development portfolio?
"I think the market is better served by a clearer strategy. So the new CEO has put in a plan to divest the entire development portfolio, to make it a pure retirement play."
In June, Lee stepped down as interim CEO to make way for Geoff Grady, after a 10-month search for a new chief executive. Grady, who has had a long relationship with Mulpha International, joined the company's Australian arm in 2002 and was chief executive of Sanctuary Cove. He then joined FKP in 2009 as chief operating officer.
Lee says the retirement portfolio, worth more than A$1 billion (RM2.9 billion) in direct and indirect holdings, will eventually be put into a real estate investment trust (REIT).*
Australia is currently undergoing much uncertainty because of economic and political issues, but Lee expects this to be resolved and anticipates steady performance in both the residential and retirement sectors of the property market.
"Australia is going through a difficult time in terms of the cost base, which is very expensive. There's also uncertainty over the change in prime minister, which has unsettled people in general," Lee says.*
"But with the currency pulling back, interest rates at a historical low and talk that they might come down some more, I think the residential market will strengthen, and in turn the retirement sector, because the retirement market follows the residential market."
Besides property development, the Group — through its subsidiary Mulpha Australia Ltd, acquires, develops and manages a range of property and lifestyle investments, including hotels, a hotel school, commercial developments, a car park, and a winery and vineyard operation.
Property market overview
Lee is bullish about the Malaysian property market. "Malaysia is relatively cheap in the region. For our level of infrastructure, comfort and development, we are cheaper than the Philippines, Indonesia and Thailand. And we have good products. I think there is a lot of upside to come. Demographics are in the country's favour, with a young population getting into the property market."
Even with the new banking guidelines by Bank Negara Malaysia, where there is now a maximum tenure of 35 years for financing the purchase of residential and non-residential properties, Lee does not see the market cooling off too much.*
"[The market will be affected] a little, but it is healthy in the long term," he opines. "You want controlled growth; you don't want a crazy bubble like in America, where with no money down, you can buy as many houses as you want. I think it is very prudent and wise of Bank Negara to control this before it got out of hand."
As for the Australian market, Lee says it is a good time to buy property there now, with interest rates so low.*
"Sydney's residential market is cheap and has not risen in the last 10 years, while other markets like Perth is reliant on the mining boom and will be subdued. Brisbane is bottoming out and starting to pick up aggressively, while Melbourne is relatively weak.*
"But the most affordable is Melbourne, in terms of dollar per sq m. It is just that the whole market is a lot cheaper, but it will come back strongly. In Australia, with interest rates so low, it is cheaper to buy than to rent."*
By the look of things, Mulpha International is all set to continue its steady growth within Malaysia and Australia.*
Leisure Farm's product launches this year
Leisure Farm in Iskandar Malaysia, Johor, has two launches slated for the end of this year. The first to be launched is Bayou Creek Phase 7b in October, which will see 57 units up for sale — 40 semi-detached houses and 17 bungalows.*
The built-ups of the semidees start from 3,720 sq ft and the indicative selling price from RM2.55 million, while the built-ups of the bungalows start from 4,120 sq ft and the indicative selling price from RM3.59 million. The project's estimated gross development value (GDV) is RM180 million.
According to Ronn Yong, deputy CEO of Mulpha International, Phase 7c is slated for launch in 3Q2014 and Phase 7d, six months later. "Balloting will be conducted due to demand," he says.
Bayou Creek Precinct 7 has an estimated GDV of RM800 million and sits on 57.24 acres. The precinct is divided into four sub-phases and will have 332 residential units. Phase 7a, launched in 2012 and sold out, offers 96 units — 46 bungalows and 50 semidees.*
The second project that will be launched is Bayou Gardens residences, which will feature cluster homes along the canal, Yong says.*
No GDV is provided at the moment as the project is still in the planning stage. However, Yong highlights that units will come fully-furnished with a built-in designer kitchen with hood and hob, wardrobe in all bedrooms, ceiling fans and energy-saving light fittings, as well as an alarm system. The cost of the fit-out will be around RM150,000.
This story first appeared in*The Edge weekly*edition of Aug12-18, 2013.
Simplifying the way Mulpha works
I like property development because you are leaving your mark on this world that people can enjoy and look forward to," says Mulpha International Bhd's executive chairman Lee Seng Huang.*
Lee, who is in his late thirties, helms one of the most recognised companies here, which today has a presence in Malaysia, Vietnam and Australia.*
Mulpha International was listed on the Kuala Lumpur Stock Exchange in 1983, and has been involved in a diverse number of businesses. But in the last few years, under Lee's leadership, it has offloaded non-core assets to better focus on high-end property development, property investment and property-related businesses.
"Mulpha International is becoming more of an investment house — you could even call it a hedge fund, and what we do is we invest in businesses and companies that are involved in certain sectors," Lee explains.*
"What we have been trying to do is simplify Mulpha International's business. We have got rid of all non-core assets like the trading businesses, crane hire business and even an industrial paint business in China.*
"All this leads to a further simplification of the business, which allows you to hire the right people to focus on a particular field, rather than trying to find someone who is a jack of all trades and master of none."
The restructuring exercise is at its tail end. One of the remaining assets to be disposed of is a 1,000-acre tract in Sepang, Selangor, for low to medium-end products, which no longer fits the company's plan of developing high-end products.*
The group recently purchased 6.41 acres adjacent to the Tropicana Golf & Country Club in Petaling Jaya, from Tropicana Corp Bhd for RM116.1 million. Its property division, Mulpha Land Bhd, has plans for a mixed-use development, with an estimated gross development value (GDV) of RM700 million.*
"We are reactivating Mulpha Land and rationalising all our developments under the company. Mulpha International will be an investor in Mulpha Land," says Lee.
Mulpha Land was a "sleepy" company, but has become more active, thanks to projects like Enclave Bangsar, which features seven exclusive bungalows with a GDV of RM94 million, he explains.
Lee clarifies that the massive Leisure Farm project in Iskandar Malaysia, Johor, will not come under Mulpha Land, as it is too big and will swallow it up. Mulpha Land will be positioned as a high-end branded developer.
"We will bring our international expertise to the local development scene," Lee says. "A lot of people probably don't realise how 'international' Mulpha is, and we are trying to bring that experience and knowledge to the Malaysian market by offering high-end aspirational products and creating a brand out of them."
Moreover, new blood has being injected into both Mulpha Land and Mulpha International, says Lee. "We have changed management and hired younger people like Ghazi Yeoh Abdullah [executive director of Mulpha Land]. The team is also being reinvigorated.*
"Mulpha International too has hired new people. Previously, Australia had its own management team, and there was very little cross-pollination between the group's businesses. Now with some management changes, the group is more integrated. So in the future, people will understand that Mulpha International is not only a Malaysian company, but also a large developer overseas."*
The head office will still be in Malaysia, he adds.*
Leisure Farm
Mulpha International's 1,765-acre Leisure Farm development in Johor, is beginning to bear fruit. "We are accelerating [the development] at Leisure Farm, which has been going slowly for many years, deliberately because we didn't think the market was right. Now we see that the market and pricing are there," says Lee.*
In July, 10 pre-selected bungalow lots at Leisure Farm brought in RM50 million via a tender process. The reserve price ranged from RM2.03 million to RM6.93 million (RM115 psf to RM150 psf).*
"Previously, people didn't appreciate the scarcity of land at Leisure Farm. They thought it was an endless resource because the development is very large," Lee says.*
"By putting lots up for tender, they will realise that there are not many remaining lots left at Leisure Farm. And it is a rare product — in the entire Iskandar Malaysia, there are no one-acre lots. This could be the Damansara Heights, the Bukit Tunku or the Nassim Hill [in Singapore] of Iskandar.*
"So I came up with the plan, with our marketing people. Let's keep it exclusive. We don't really want to sell undeveloped land, as we want to sell developed products. But we still get a lot of requests for bungalow lots, so we are balancing that — every year, we will release an X number of lots and people who have registered can tender for them. It is a much more transparent system as well, because it is the fairest way to sell."
At the close of bidding on July 28, all the lots had been sold. There were 30 bidders, and half of the successful bidders were Malaysians.
"We chose 10 lots from different precincts, to give buyers variety," says Mulpha International's deputy CEO Ronn Yong. "The one-acre lots are the most prime, and we are the only development with 'Good Class Bungalow' or GCB status, which is a Singapore-based standard for similar bungalows in prime areas such as District 9 and Orchard Road."*
In the future, Mulpha International plans to build and sell products and not sell bungalow lots anymore, he adds.
Meanwhile, thanks to the "Iskandar effect", property values are increasing across the board in the region. Lee believes that as conditions improve, values could go up even further.*
"I have seen it before in Shenzhen and Hong Kong," he says. "The key was getting the Malaysian and Singaporean governments to work closely together. That was the missing ingredient before. But once they started working together, the development of Johor sped up.
"Shenzhen used to be very cheap compared with Hong Kong, but now property prices there are a third of those in Hong Kong. "
New launches at Leisure Farm in October include its Bayou Creek Precinct 7B, which comprises 17 canal-front bungalows and 40 eco-themed semi-detached houses. Also to be launched at the end of this year or early next year, is the Bayou Gardens project, which will feature waterfront semi-detached homes and superlink villas.*
Australia
Mulpha International's resort development Sanctuary Cove — the group's other big property development in Australia's Gold Coast, is a significant project. It is a 1,171-acre integrated residential resort that includes two world-class golf courses, four harbours and 15 restaurants and cafés.
Lee says the group will continue to launch bungalow lots at the development. Meanwhile, there is a joint venture to build a medium-density product with Sunland Group — an Australian company that developed the Versace Hotel in Gold Coast, at the entrance of Sanctuary Cove.*
"Gold Coast has gone through a tough period," Lee says. "Post-global financial crisis, there was a correction, but a lot of the distressed stock has been sold. The banks have sold the loans, and the funds that bought the loans have sold the products. So the market is clear now.
"The overhang is down to a few hundred units in Gold Coast, and Brisbane is picking up strongly. As a result, I think Gold Coast prices are starting to climb and we've seen enquiries, demand and transactions come back very strongly compared with the past few years."
Mulpha International is also active on the retirement-home front via FKP Property Group. "We are streamlining FKP," says Lee. "I think FKP is a very misunderstood company because it has such large retirement and development portfolios. Investors are confused — do they invest in this company because of the retirement or the development portfolio?
"I think the market is better served by a clearer strategy. So the new CEO has put in a plan to divest the entire development portfolio, to make it a pure retirement play."
In June, Lee stepped down as interim CEO to make way for Geoff Grady, after a 10-month search for a new chief executive. Grady, who has had a long relationship with Mulpha International, joined the company's Australian arm in 2002 and was chief executive of Sanctuary Cove. He then joined FKP in 2009 as chief operating officer.
Lee says the retirement portfolio, worth more than A$1 billion (RM2.9 billion) in direct and indirect holdings, will eventually be put into a real estate investment trust (REIT).*
Australia is currently undergoing much uncertainty because of economic and political issues, but Lee expects this to be resolved and anticipates steady performance in both the residential and retirement sectors of the property market.
"Australia is going through a difficult time in terms of the cost base, which is very expensive. There's also uncertainty over the change in prime minister, which has unsettled people in general," Lee says.*
"But with the currency pulling back, interest rates at a historical low and talk that they might come down some more, I think the residential market will strengthen, and in turn the retirement sector, because the retirement market follows the residential market."
Besides property development, the Group — through its subsidiary Mulpha Australia Ltd, acquires, develops and manages a range of property and lifestyle investments, including hotels, a hotel school, commercial developments, a car park, and a winery and vineyard operation.
Property market overview
Lee is bullish about the Malaysian property market. "Malaysia is relatively cheap in the region. For our level of infrastructure, comfort and development, we are cheaper than the Philippines, Indonesia and Thailand. And we have good products. I think there is a lot of upside to come. Demographics are in the country's favour, with a young population getting into the property market."
Even with the new banking guidelines by Bank Negara Malaysia, where there is now a maximum tenure of 35 years for financing the purchase of residential and non-residential properties, Lee does not see the market cooling off too much.*
"[The market will be affected] a little, but it is healthy in the long term," he opines. "You want controlled growth; you don't want a crazy bubble like in America, where with no money down, you can buy as many houses as you want. I think it is very prudent and wise of Bank Negara to control this before it got out of hand."
As for the Australian market, Lee says it is a good time to buy property there now, with interest rates so low.*
"Sydney's residential market is cheap and has not risen in the last 10 years, while other markets like Perth is reliant on the mining boom and will be subdued. Brisbane is bottoming out and starting to pick up aggressively, while Melbourne is relatively weak.*
"But the most affordable is Melbourne, in terms of dollar per sq m. It is just that the whole market is a lot cheaper, but it will come back strongly. In Australia, with interest rates so low, it is cheaper to buy than to rent."*
By the look of things, Mulpha International is all set to continue its steady growth within Malaysia and Australia.*
Leisure Farm's product launches this year
Leisure Farm in Iskandar Malaysia, Johor, has two launches slated for the end of this year. The first to be launched is Bayou Creek Phase 7b in October, which will see 57 units up for sale — 40 semi-detached houses and 17 bungalows.*
The built-ups of the semidees start from 3,720 sq ft and the indicative selling price from RM2.55 million, while the built-ups of the bungalows start from 4,120 sq ft and the indicative selling price from RM3.59 million. The project's estimated gross development value (GDV) is RM180 million.
According to Ronn Yong, deputy CEO of Mulpha International, Phase 7c is slated for launch in 3Q2014 and Phase 7d, six months later. "Balloting will be conducted due to demand," he says.
Bayou Creek Precinct 7 has an estimated GDV of RM800 million and sits on 57.24 acres. The precinct is divided into four sub-phases and will have 332 residential units. Phase 7a, launched in 2012 and sold out, offers 96 units — 46 bungalows and 50 semidees.*
The second project that will be launched is Bayou Gardens residences, which will feature cluster homes along the canal, Yong says.*
No GDV is provided at the moment as the project is still in the planning stage. However, Yong highlights that units will come fully-furnished with a built-in designer kitchen with hood and hob, wardrobe in all bedrooms, ceiling fans and energy-saving light fittings, as well as an alarm system. The cost of the fit-out will be around RM150,000.
This story first appeared in*The Edge weekly*edition of Aug12-18, 2013.
Thanks Valdez, certainly a very good update to the state of affairs to Leisure Farm, and also Bayou Creek.
I visited Bayou Creek recently and was very impressed with the mature state of development there. I would say approximately 50% of the earlier builts are near completion and the roads are currently being completed.
The houses already have good screening plants in place (bamboos, rain trees, etc)
Compared to the other higher end developments in the Iskandar region, Bayou Creek certainly oozed a very good high end feel to the whole environment.
Certainly, at present, a lot of potential buyers are being put off by the long drive via Gelang Patah, which can get really dark at night.
However, I have observed that the highway entry on both sides are also advancing well. Not too sure about when their targeted completion will be though.
I personally think that once the two highway entry points are completed, it will greatly enhance the convenience and attractiveness of Leisure Farm as a premier residential enclave.
Be interesting to know how the nearby Gerbang Nusajaya area developments will pan out. Peter Lim's Motor City is right across and further up, Ascendas commercial park is only about a 5 minute drive away.
Will be interesting to observe.
I visited Bayou Creek recently and was very impressed with the mature state of development there. I would say approximately 50% of the earlier builts are near completion and the roads are currently being completed.
The houses already have good screening plants in place (bamboos, rain trees, etc)
Compared to the other higher end developments in the Iskandar region, Bayou Creek certainly oozed a very good high end feel to the whole environment.
Certainly, at present, a lot of potential buyers are being put off by the long drive via Gelang Patah, which can get really dark at night.
However, I have observed that the highway entry on both sides are also advancing well. Not too sure about when their targeted completion will be though.
I personally think that once the two highway entry points are completed, it will greatly enhance the convenience and attractiveness of Leisure Farm as a premier residential enclave.
Be interesting to know how the nearby Gerbang Nusajaya area developments will pan out. Peter Lim's Motor City is right across and further up, Ascendas commercial park is only about a 5 minute drive away.
Will be interesting to observe.
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To my understanding, Leisure Farm's location is well within Iskandar region.
Just that it is not part of the UEM/SP Setia owned land, which covers East Ledang, Ledang Heights, Puteri Harbour.
It should be located within Zone B of the Iskandar Development Region, which covers the broad Nusajaya region.
Just that it is not part of the UEM/SP Setia owned land, which covers East Ledang, Ledang Heights, Puteri Harbour.
It should be located within Zone B of the Iskandar Development Region, which covers the broad Nusajaya region.
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