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Leisure Farm Community

Leisure Farm and UEM, in Iskandar, are completely different animals with a different vision, mission, and strategy.

Leisure Farm (Mulpha) is positioned as high end real estate. Their mission is to maximise the value of their owned land bank, without much control into what happens around it. In a region that has become a favourite of investors, and prices are going up, it is in their interest to release limited real estate into market and keep waiting until prices rise further to sell off the limited land bank they own. They will continue to free ride on all of the catalytic developments created by UEM.

UEM, on the other hand, are the master developers of Nusajaya. They are perhaps the largest land owners. It is in their interest to get the area populated so that Iskandar becomes successful. They offer real estate at all price ranges (Nusa Bayou to East Ledang). Be it entry level, like Nusa Bayou or high end, like East Ledang, they are trying to keep their prices reasonable and release as many units they can sustain so that more people can buy and start living, in the process create critical mass for businesses to come in. So far, I must say they have done a darn good job. I have been going to Nusajaya quite frequently since early 2011 and I can see that the place is shaping up quite nicely. Shops, Restaurants, Hotels, Mall, Schools, Colleges, internationally diverse communities, businesses, have all come up within these 3 years and that's incredible.

So, in a nutshell, here is what I can conclude about an organization like UEM:
- there focus is more on the success of Iskandar and creating a lively community, not just make money on real estate
- being a government linked organization, they cannot be seen as a company that is jacking up real estate prices and contributing to a bubble, so they cannot be price leaders. Their price increases have to be slow and sustainable and in tandem with material costs, etc, that may be justified
- right now, they are making tons of money from land sales to other developers so they can very well afford to keep their real estate prices reasonable and let it sell itself

Sharp observation, bro IR.
 
Been kinda quiet on this tread lately.

Anyone knows if the handover for Bayou Creek has started?

Drove by and place is still quite quiet.

Heard about the semi detached launch for phase two, but nothing much about bungalow units launched yet though.
 
Been kinda quiet on this tread lately.

Anyone knows if the handover for Bayou Creek has started?

Drove by and place is still quite quiet.

Heard about the semi detached launch for phase two, but nothing much about bungalow units launched yet though.

The handover has started for phase 1. The majority however will be getting their keys around end feb early march.

I heard they managed to sell 2 units if their phase 2 semi dee at 2.9 million. Total only 20 units semi dee type B for sale. 6 are bumi lots so left 14 international lot.

They only send invitations to selected LF residents and may only open to the public in feb or march if it is not sold out by then.They are in no hurry to sell and will definitely not reduced their prices any lower apart from the usual 5% disc.

Heard phase 3 will feature a totally new brand new design and be priced at least 20% higher.

One area of concern is the departure of Ronn yong the man behind the success of leisure farm. Don t know whether any changes to the master plan. Heard he joined Sunway. Service standard and morale of the staff there has dropped.

Also some changes to the planned access road. Heard it is temporary shelved for now pending re design to accommodate the other uem projects like Peter lim motor city which is located just outside leisure farm, ascenda tech park and china mall.

Also heard Sunway, uem and mulpha will be sharing money to build an extension to the coastal highway to link up medini to the North south highway and the exit will be near to the current rest area near the petrol kiosks.
 
The handover has started for phase 1. The majority however will be getting their keys around end feb early march.

I heard they managed to sell 2 units if their phase 2 semi dee at 2.9 million. Total only 20 units semi dee type B for sale. 6 are bumi lots so left 14 international lot.

They only send invitations to selected LF residents and may only open to the public in feb or march if it is not sold out by then.They are in no hurry to sell and will definitely not reduced their prices any lower apart from the usual 5% disc.

Heard phase 3 will feature a totally new brand new design and be priced at least 20% higher.

One area of concern is the departure of Ronn yong the man behind the success of leisure farm. Don t know whether any changes to the master plan. Heard he joined Sunway. Service standard and morale of the staff there has dropped.

Also some changes to the planned access road. Heard it is temporary shelved for now pending re design to accommodate the other uem projects like Peter lim motor city which is located just outside leisure farm, ascenda tech park and china mall.

Also heard Sunway, uem and mulpha will be sharing money to build an extension to the coastal highway to link up medini to the North south highway and the exit will be near to the current rest area near the petrol kiosks.

Thanks Valdez,

that was definitely a quick reply.

I am also surprised by the departure of Ronn Yong. I am sure that Sunway wanted to tap on his experience and success in marketing Leisure Farm over the past decade and to strategise how they would like to plan the Sunway Iskandar project to competitively launch it in the near future. Don't forget that Sunway bought a huge tract of land on Pendas area.

I hope the staff morale will be kept high as they are the unsung heroes who keep the Leisure Farm branding going strong in the market place. Their service standard is really genuine and sales approach professional. I hope the current management will take good care of their well being and morale to keep the Leisure Farm spirit and flag flying high amidst all these new competition.

Another surprise is the brand new design for phase III. Be interesting to know how it will look. Another 20% higher? I think it is indeed ambitious.

Am curious why the bulk of phase I buyers are only taking keys in Feb/March?
 
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Does not sound right that they sent invitations to selected residents only. They have already released to registrants. I am a registrant only and received an email from them in mid December. Another friend, who is a registrant, received an email as well. At the prices and specifications, they have done very well to sell 2 units. Sales are in general is very slow all across after budget. I was told by EL as well that sales of Phase 4b has slowed down significantly after budget announcements.

They may not lower the price, however, still good news for genuine buyers as they can take their time and choose, rather than be a part of the mad rush of investors.

The sales morale, service and enthusiasm seemed to have dropped long back. In early 2011 the sales lady who showed me around was very responsive and eager to sell. However, since last year LF pulled back on sales. They release very limited units at such high prices that they are hard to sell. How do you expect the sales morale to stay high? The sales people are there to sell, and not sit and watch the developer's asset value grow.
 
Land opposite 1st entrance being cleared. Wondering if it is for autocity? Ascenda just launched their nusajaya tech park. Was told there will be a major interchange leading to leisure farm, autocity and nusajaya tech going to be built soon. Sunway iskandar also launching their office units and extending the coastal highway to link with CIQ at tanjong kupang. That is why they say only 5 minutes to CIQ. Leisure farm third entrance will be linked with this new road. Looks like by this time next year it will truly take only 5 minutes to reach leisure farm from the CIQ.
 
Land opposite 1st entrance being cleared. Wondering if it is for autocity? Ascenda just launched their nusajaya tech park. Was told there will be a major interchange leading to leisure farm, autocity and nusajaya tech going to be built soon. Sunway iskandar also launching their office units and extending the coastal highway to link with CIQ at tanjong kupang. That is why they say only 5 minutes to CIQ. Leisure farm third entrance will be linked with this new road. Looks like by this time next year it will truly take only 5 minutes to reach leisure farm from the CIQ.

Wow! That's good news for LF owners!
Thanks Valdez for the info.
 
Land opposite 1st entrance being cleared. Wondering if it is for autocity? Ascenda just launched their nusajaya tech park. Was told there will be a major interchange leading to leisure farm, autocity and nusajaya tech going to be built soon. Sunway iskandar also launching their office units and extending the coastal highway to link with CIQ at tanjong kupang. That is why they say only 5 minutes to CIQ. Leisure farm third entrance will be linked with this new road. Looks like by this time next year it will truly take only 5 minutes to reach leisure farm from the CIQ.

Anyone has any idea what the area in front of Entrance 1 will be?
Saw the cleared area too when I drove past LF.
 
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There will be a huge increase in activities and residential supply in the vicinity around LF. Both Sunway and Motorcity will have large scale developments that will encompass residential, commercial and leisure facilities. Should add more value and relevance to this area.

However, they would need to create the buzz to drum up the interests in potential buyers as they will be huge supply potential coming on stream for at least the next 5 years.
 
Market's been quiet.
Am aware that some owners have already taken over their units at Bayou Creek.
Any idea how is the rental market in Bayou Creek?
Building activities seem slow, which is usual for Mulpha I suppose.

Sunway had been actively advertising their Iskandar development. Apparently, their land are leasehold, with 123 years of tenure.

Will be good to see more activities and developments coming up. Though, came across an article that raise concern about short term oversupply situation, especially for condominiums.

I suppose double gated premium landed will still be low in supply.
 
Market's been quiet.
Am aware that some owners have already taken over their units at Bayou Creek.
Any idea how is the rental market in Bayou Creek?
Building activities seem slow, which is usual for Mulpha I suppose.

Sunway had been actively advertising their Iskandar development. Apparently, their land are leasehold, with 123 years of tenure.

Will be good to see more activities and developments coming up. Though, came across an article that raise concern about short term oversupply situation, especially for condominiums.

I suppose double gated premium landed will still be low in supply.

The handover of the rest of phase 1 moved to April or maybe may. Heard there was a sub sale of a type C semi dee at 2.8 million.
 
The handover of the rest of phase 1 moved to April or maybe may. Heard there was a sub sale of a type C semi dee at 2.8 million.

It's good to hear sub sale activity moving along. Shows that there is indeed demand for the properties at Leisure Farm and in this case, Bayou Creek.
Up till now, East Ledang has had a more active sub sale activities going on. Hope the resident activities pick up soon too.
 
In time to come, these area, with Medini, EcoBotanic, Educity, Sunway, Motorcity, LEGOLAND, Ascendas, nature parks, etc, etc... will be the new economic corridor of Johor and an enviable place to live, work and play.
 
In time to come, these area, with Medini, EcoBotanic, Educity, Sunway, Motorcity, LEGOLAND, Ascendas, nature parks, etc, etc... will be the new economic corridor of Johor and an enviable place to live, work and play.

This forum should add the 'Like' buttons.
 
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