• IP addresses are NOT logged in this forum so there's no point asking. Please note that this forum is full of homophobes, racists, lunatics, schizophrenics & absolute nut jobs with a smattering of geniuses, Chinese chauvinists, Moderate Muslims and last but not least a couple of "know-it-alls" constantly sprouting their dubious wisdom. If you believe that content generated by unsavory characters might cause you offense PLEASE LEAVE NOW! Sammyboy Admin and Staff are not responsible for your hurt feelings should you choose to read any of the content here.

    The OTHER forum is HERE so please stop asking.

Johor's Forest City could house up to 700,000: Developer - See more at: http://www.st

GG789

Alfrescian
Loyal
BY REME AHMAD, ASSISTANT MONEY EDITOR

THE master developer for the 1,400ha reclaimed land in Johor near Tuas said that over the next 20 or 30 years, homes may be built that can house as many as 700,000 people.

The homes being built in the Forest City project would add to the nearly 336,000 new residential units that are in the pipeline for the rest of Johor state.

The large number of new homes coming up in Johor has raised concerns in Singapore.

Minister for Culture, Community and Youth Lawrence Wong, who is a board member of the Monetary Authority of Singapore, told Parliament on Monday that the nearly 336,000 new private residential units are more than the total number of private homes in Singapore.


He said the figure, derived from official Malaysian statistics, does not include homes being built on the Forest City reclaimed land.

Johor had 719,421 existing homes at the end of last year, according to Malaysia's National Property Information Centre, a unit under its Ministry of Finance.

"There is indeed a real concern about future oversupply in the property market there and hence the potential decline in value of homes," Mr Wong said in reply to an MP's question about Singaporeans buying in southern Johor's Iskandar Malaysia region.

Johor Menteri Besar Mohamed Khaled Nordin, when asked last week about concerns in Singapore over a property glut in Iskandar, said: "Investments in Johor are not only confined to property."

The reclaimed Forest City project consists of four man-made islands being raised by a company partly owned by the Sultan of Johor.

Forest City will offer wealthy international buyers luxury homes by the Strait of Johor, its developer has said.

The four islands will have a total land area of 1,386ha - about three times the size of Sentosa island. Forest City's master developer is Country Garden Pacificview (CGPV).

Asked via a text message yesterday how many people would live in Forest City, CGPV's executive director, Datuk Md Othman Yusof, replied: "The project duration is between 20 and 30 years. Estimation of population = 700,000."

CGPV is 60 per cent owned by China's Country Garden Holdings, with Johor's Sultan Ibrahim Ismail and an investment arm of the Johor government also holding stakes. Assuming six people live in each housing unit in Forest City, the 700,000 residents would need 116,666 homes.

The first phase is expected to be ready in five years, with these units adding to the incoming supply of nearly 336,000 new homes in Johor over the next few years.

Singapore's latest official figures show it has 327,811 private homes. There are another 83,642 in the pipeline, including executive condominium units.

- See more at: http://www.straitstimes.com/news/bu...d-house-700000-developer-20150513#xtor=CS1-10
 

xebay11

Alfrescian
Loyal
Re: Johor's Forest City could house up to 700,000: Developer - See more at: http://ww

Wealthy people want to face incinerator stacks?
 

chowcheebye

Alfrescian
Loyal
Re: Johor's Forest City could house up to 700,000: Developer - See more at: http://ww

DOTPOTA_puremovies1.jpg
 

enterprise2

Alfrescian
Loyal
Re: Johor's Forest City could house up to 700,000: Developer - See more at: http://ww

Can move whole of Singapore over?
 

Leckmichamarsch

Alfrescian
Loyal
Re: Johor's Forest City could house up to 700,000: Developer - See more at: http://ww

where got so many turkeys from sg.......... hope they fall flat on their faces due to no critical mass
 

Narong Wongwan

Alfrescian (Inf)
Asset
Re: Johor's Forest City could house up to 700,000: Developer - See more at: http://ww

How come sinkie minister want to chap one leg and kaypoh job business?
 

Leckmichamarsch

Alfrescian
Loyal
Re: Johor's Forest City could house up to 700,000: Developer - See more at: http://ww

How come sinkie minister want to chap one leg and kaypoh job business?

you are rite.,.. it is really none of sg govt biz
want to show its concern but cannot really do anything abt it.......... dog n pony show to score points
 

syed putra

Alfrescian
Loyal
Re: Johor's Forest City could house up to 700,000: Developer - See more at: http://ww

How come sinkie minister want to chap one leg and kaypoh job business?

Because it may affect property price in Singapore. Deflation like what happened in Japan may occur.
 

jw5

Moderator
Moderator
Loyal
Re: Johor's Forest City could house up to 700,000: Developer - See more at: http://ww

Pappies or people with pappy mentality are known to be kaypohcheebyes. :biggrin:

How come sinkie minister want to chap one leg and kaypoh job business?
 

Narong Wongwan

Alfrescian (Inf)
Asset
Re: Johor's Forest City could house up to 700,000: Developer - See more at: http://ww

Because it may affect property price in Singapore. Deflation like what happened in Japan may occur.

Ok it may....
But then like bro mentioned....Sg govt can do fuck off about it.....
Got say like no say....
 

Runifyouhaveto

Alfrescian
Loyal
Re: Johor's Forest City could house up to 700,000: Developer - See more at: http://ww

That's becos sinkies expect the $800psf condo to appreciate, whereas they expect the 4-wheeler to depreciate. :wink:

On surface, the same dollar is better spent on housing than car.
But if you take a $600k loan for cond vs $60k loan for car,
A 2% spike in cost of financing (SIBOR) in the years ahead will ruin the former.

Last year, Deloitte expert told RUN that don't worry, the world will survive on low interest rates environment from now on (forever), SIBOR spiked from 0.4% to 1% within a few months after he made that remark.

I just wanna say, when everybody around you starts to believe in something, the invisible hand of the market will start to harvest.
 

jw5

Moderator
Moderator
Loyal
Re: Johor's Forest City could house up to 700,000: Developer - See more at: http://ww

Couple Of Points:

1. Well, people may buy homes on loan because they are starting a new family and feel they are financially stable enough, in addition to the expectation of price appreciation or at least stability. Whereas people should not buy cars on loan, even though they are relatively cheaper. If they can't afford to pay cash for a car, they should continue to take public transport. :wink:

2. As for the Deloitte expert, if he was really such an expert, he need not be working for Deloitte. :biggrin:

On surface, the same dollar is better spent on housing than car.
But if you take a $600k loan for cond vs $60k loan for car,
A 2% spike in cost of financing (SIBOR) in the years ahead will ruin the former.

Last year, Deloitte expert told RUN that don't worry, the world will survive on low interest rates environment from now on (forever), SIBOR spiked from 0.4% to 1% within a few months after he made that remark.

I just wanna say, when everybody around you starts to believe in something, the invisible hand of the market will start to harvest.
 

Runifyouhaveto

Alfrescian
Loyal
Re: Johor's Forest City could house up to 700,000: Developer - See more at: http://ww

2. As for the Deloitte expert, if he was really such an expert, he need not be working for Deloitte. :biggrin:

Very well said good brother.

But these people are the highly-qualified ones in our society. He humiliated Ah RUN before because RUN no degree, just kachang puteh. Anyway, I am also not always right. But at least, we shouldnt be so arrogant.

Good night
 

blissquek

Alfrescian
Loyal
Re: Johor's Forest City could house up to 700,000: Developer - See more at: http://ww

you are rite.,.. it is really none of sg govt biz
want to show its concern but cannot really do anything abt it.......... dog n pony show to score points

Perhaps you want to see it from another angle..

My friend has correctly pointed out their agenda on this .

They do not want to look stupid and greedy, if the Chinese can build and sell a "Sentosa Cove " type of bungalow at a
fraction of Singapore price.

Imagine you get to buy a seaside bungalow at $1 million, instead of pay $20 million for the same bungalow in Sentosa Island.

Don"t this make them look like a greedy bunch.? They want to keep the Sentosa hype and protect their value
so that they can continue to suck money from the daft.
 
Last edited:

KuanTi01

Alfrescian (Inf)
Asset
Re: Johor's Forest City could house up to 700,000: Developer - See more at: http://ww

Couple Of Points:

2. As for the Deloitte expert, if he was really such an expert, he need not be working for Deloitte. :biggrin:

Well said! All these so-called experts think too highly of themselves. If they are experts, they can do better than just being employed. They would be jet-setting tycoons with limitless wealth!
 
Top