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Living in JB 2 (Johore)

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Everyone has a choice in life as to what path they want to choose -- it is the uncertainty of moving into unchartered waters that make it difficult. Mindset change is very important, but it takes time.

I've missed the boat in the SG property run-up, and hence I've decided that Iskandar Malaysia presents an opportunity of a lifetime. Like what my wife's ex-colleague used to say (he made a fortune from the Nasdaq dotcom bubble), you just need to do a few right things to do well in your life, the other failures don't matter. Of course the usual rules apply, like not over committing, etc.

Have learnt a bit & am still learning from plenty of good people here, and I hope to slowly share this with my friends.

Indeed Cathy, all the fuss about Legoland and everything else opening, to me that's not enough. They not only need to open, they need to do well, and that is still uncertain. Look at Sentosa, year after year they revamped, revamp after revamp fail, took them how many years before Sentosa became what it is today? Not impossible that same thing happens to Nusajaya.

I wonder though where they are going to find trained staff with English good enough to work at Legoland, Trader's etc. The good ones either run to Singapore or KL. Does it mean they need to offer more wages to hire these people and therefore set Johor on the path we hope it will go?



Lol, indeed we should all keep that in mind. What goes around comes around.



True, whether one does buy Johor property first instead of Singapore depends on the level of confidence one has in the Iskandar project. If it takes off as well as we all hope it does, wouldn't buying in Johor be much better than buying in a developed country like Singapore? Almost like buying property in Singapore in the 80s.

I am doing almost the same, not in the sense that I'm buying Johor property before Singapore property, but in that I am going to dispose of my HDB. That's the bet I'm taking on property prices.

Anyone want to buy? 40k renovation in end-2007, only going to ask 80k cov lol.

Arranged to meet my Johor contractor tomorrow, will see how he quotes and report.
 
I agree that buying a resale HDB, especially single, will be very "siong".

Options include staying with parents, rent a room outside etc, if one does not have the means yet.
But if one has the means, then, the options become available for one to choose.

When one just started earning (freshie), the above is what one will do.

JB house maybe affordable but with the RM500k restriction, we are looking at about SGD 200k too.
Add the daily commute (assuming freshie and working in Sgp) either by Bus or buy a car.
Buying a car to do this will just add on to the burden.
Add the issue of not utilising CPF to service the loan, meaning cash will need to be used.
Add the higher bank interest rate versus the HDB rate
Also the HDB Grant, though not much, still $$

of course JB house is mostly Freehold and landed vs the 99 yr HDB Flat.
Both can appreciate in value, no one knows which will turn out to be faster, however, it is a home, so any appreciation is not going to mean anything, except when one needs to cash out urgently, HDB may present more options.

Lastly is the means testing for Healthcare in Sgp. Again, one can buy medical insurance to mitigate.

I guess, it really boils down to individual's outlook and preference in terms of risk taking. ;)
 
Okay, done lots of running about in these 2 days. At last I can take a breather now. Just a quick update:-

Given the ordeal I had at the HH's office, I am never going back there again, and I will never buy a property from them directly, never ever! Not gonna elaborate much either ... Ah tiong, sorry to disappoint ...

On the other hand for the brighter news, I have made a booking at setia tropika instead. The joy and the excitement of my first venture in property is indescribable. At last I have made the first bold step :-)

Bro yonglip, we can see that it was only meant as a joke, don't take it to heart ;) in fact, I found it funny :)

Okay, gonna put my feet up and watch a movie. Hope u guys are having a good weekend too. Cheers

Only 3 days ago and now it is almost 10 pages behind! Bro DoA, congratulate on your booking in ST. Well no comment on the HH sales office, but glad that you've found what you are looking for.
 
Bro.... 7A... and you?


FYI UEM is giving out RM8k voucher from SenQ for purchase between 16-26Feb at precinct 7A..... I am not sure whether it is also valid for precinct 8 or other precincts.

Hi bro yahoo1234, is it confirmed that they are giving out SenQ voucher for 8k during that period? I tried to 'dig' from their sales office but couldn't get anything related to promotion.
 
I am also very optimistic about Iskandar, else will not even buy anything there. In fact on paper, my humble place has gone up 25% in just 4 months and i expect it to increase another 10% - 20% once fully completed. However like all investments, one should always be prepared with a back up plan in case anything happens and in a country like Msia, anything can happen. Its a well known fact that Singaporeans are welcomed with open arms not becos they love us, but becos they love our monies. Unfortunately, whenever they start to realise that foreigners are making tons of monies at the expense of locals, polices (most of them irrational) will be formulated to disadvantage them. I think many bros can remember better than me the many examples in the past of this happening...so dont be surprised if one day they raised the capital gains tax to 20, 30 or even 40% for foreigners or come up with some other 'creative' policies that make cashing out difficult.

bottomline,...no matter how screwed you feel in your own country, it is still better than being screwed in a foreign land.

cheers.
 
hahahaha , i have delegate this job to my asst kampong chief , Bro Diaspora ....he will come out with the programes to discuss with me ....
Oh , u r in P8 ? didnt know that ...
Are u my neighbour in 8/8 too ?

ahem ahem...i heard i hv been summoned by HRH...
Since we may moved in during 4Q2012, why not hv one sammyboy P8 gathering by the lakeside then.
It can be a Precinct 8 move-in cum house warming cum Christmas cum New Year celebration...
We can JV with UEMLand for the organizing and partial sponsorship as well as some local business to partake in the event...hmmm...maybe can even organize a small run around the lake and get F&N to sponsor 100Plus drinks...also a fishing competition too...hmmm...
Let's make the P8 community an active one! We will only need 5-10 active residents to be in the organizing committee. In this forum, we should already have at least 3-4 already... :)
Open Position: Chairperson, Asst. Chair-Secretary, Treasurer, F&B Coordinator, Fun&Games Coordinator & Logistics Coordinator. :)
 
I am also very optimistic about Iskandar, else will not even buy anything there. In fact on paper, my humble place has gone up 25% in just 4 months and i expect it to increase another 10% - 20% once fully completed. However like all investments, one should always be prepared with a back up plan in case anything happens and in a country like Msia, anything can happen. Its a well known fact that Singaporeans are welcomed with open arms not becos they love us, but becos they love our monies. Unfortunately, whenever they start to realise that foreigners are making tons of monies at the expense of locals, polices (most of them irrational) will be formulated to disadvantage them. I think many bros can remember better than me the many examples in the past of this happening...so dont be surprised if one day they raised the capital gains tax to 20, 30 or even 40% for foreigners or come up with some other 'creative' policies that make cashing out difficult.

bottomline,...no matter how screwed you feel in your own country, it is still better than being screwed in a foreign land.

cheers.

Precisely, I asked close relative to buy a unit at BI cluster @ 520K mid 2010 launch , she didnt think is good idea . She say is better to save more money . Today price BI cluster cant even get at 600K , I supect will hit 700K sooner than we think . How on earth can ordinary worker save 100 to 150K in just one , two year ?
BTW , being raped by your own brother is no better feeling leh , I guess is worse , as you feel hurt and being betrayed at the same time.
 
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I am also very optimistic about Iskandar, else will not even buy anything there. In fact on paper, my humble place has gone up 25% in just 4 months and i expect it to increase another 10% - 20% once fully completed. However like all investments, one should always be prepared with a back up plan in case anything happens and in a country like Msia, anything can happen. Its a well known fact that Singaporeans are welcomed with open arms not becos they love us, but becos they love our monies. Unfortunately, whenever they start to realise that foreigners are making tons of monies at the expense of locals, polices (most of them irrational) will be formulated to disadvantage them. I think many bros can remember better than me the many examples in the past of this happening...so dont be surprised if one day they raised the capital gains tax to 20, 30 or even 40% for foreigners or come up with some other 'creative' policies that make cashing out difficult.

bottomline,...no matter how screwed you feel in your own country, it is still better than being screwed in a foreign land.

cheers.

My view on Iskandar is still 50-50 as it is still a long way to go. Like majority mentioned, those fundamentals need to be there to sustain and push the property value to the next level. Some of the doubts I'm still having right now and looking for answer (I believe only time can tell).

1. Property price - For common new property launch, normal double-storey terrace all cost above 400k or next time even 500k, can the local afford? ( With more job opportunities in the future with good salary, yes. However, how good will it be?). By looking at the current massive rate of the new property being launched, I won't be surprised more than 50% are bought for investment purpose. Imagine next time when everyone is selling..

2. The M'sia govt mentioned about foreign investment - what does Iskandar offer to attract foreign investor? Definitely cost is one of the main factor. If the operating cost in Kota Iskandar increase in the future, would Iskandar will still be their pick?

3. Job opportunity - linked with item 2. How good will the job remuneration package be in such a way to attract more work force that can afford the expensive houses? Not to forget that it is just right beside Singapore.

4. Educity - what group of intake / students are they targeting? And it is not only one University, there are 4 (for what I've heard)! What good will it bring to increase the property value? Perhaps some demands from students seeking for rental? But again it depends on whether those university / college provide hostel / accommodation for them and also the students' background. Unless some rich fella send their kids here, but again among all place, why Kota Iskandar?

5. Legoland and In-door theme park (or what do they call it) - Tourism - hopefully they will do well to bring some business to this area.

6. Kota Iskandar as a Johor state new administrative centre - I can only imagine the future Kota Iskandar similar like the current Putrajaya.

Might miss out some points. I just hope this time M'sia govt will focus on what they would like to achieve in the end and execute every phase timely as per proposed, or else eventually people will just lost confident and leave.
 
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JB city centre in for new image

Monday February 6, 2012
By ZAZALI MUSA
[email protected]

http://biz.thestar.com.my/news/story.asp?file=/2012/2/6/business/10668305&sec=business

Work on transformation project is expected to start in June
JOHOR BARU: The masterplan for the Johor Baru city centre transformation project has been completed and work on the first phase is likely to start in June.
The masterplan is divided into two parts comprising the development concept and business plans.
“It will take five to seven years to transform Johor Baru into a vibrant city,'' Iskandar Regional Development Authority (Irda) chief executive officer Ismail Ibrahim told StarBiz.
“It is vital to redevelop and rejuvenate Johor Baru city centre in line with its status as one of the five flagship development zones in Iskandar Malaysia.''
The redevelopment covers 485.62ha in the city central area including Bukit Timbalan; the former site of Lumba Kuda low-cost flats; Bukit Chagar Customs, Immigration and Quarantine complex; Tanjung Puteri Lorry Customs complex and areas within the Johor Zoo; the Ayer Molek prison and Hospital Sultanah Aminah.
A consortium comprising public and private sector players will be set up to undertake the multi-billion ringgit project this year.
The private sector will play a prominent role in the development. The Government will facilitate and inject funds for infrastructure and facilities at public areas while funding for the development of individual land parcels will come from the private sector.
Prime Minister Datuk Seri Najib Tun Razak had in April last year announced that the Government would allocate RM1.8bil for infrastructure development in the project.
To lessen the burden of the Government, part of the RM1.8bil can be taken up by the private sector.
The RM1.8bil project includes RM200mil to open up and clean Sungai Segget, one of the dirtiest rivers in the country. It flows along Jalan Wong Ah Fook in downtown Johor Baru.
Several years ago, RM6mil was spent to cover up the river, which is 1.4km long and 25m wide.
“Opening up Sungai Segget is going to be an engineering feat but it will be a showcase not only for Iskandar but also the country,'' said Ismail.
The growth of Johor Baru has been so much associated with Sungai Segget; in the old days, it was a key port where ships of certain sizes came in to load and unload their goods.
“Within the strategic planning, we will indicate how various key components will take shape, especially the ones that will form the initial stage of development,'' said Ismail.
While drawing up the plans, Irda has held discussions with stakeholders from the Federal and Johor Governments as well as with the business community in the area comprising business operators and land owners.
The country's first economic growth corridor is divided into five flagship zones; the other four zones are Nusajaya, Eastern Gate Development, Western Gate Development and Kulai-Senai.
Ismail said the “History and Culture” theme was chosen for the transformation project as it reflected the long history of Johor Baru, which started as a small Malay fishing village and was modernised by the father of modern Johor, Sultan Abu Bakar.
Irda has been looking at other cities abroad which had more or less the same theme. These include cities in Britain such as Stratford-On-Avon, Cambridge, Oxford, Kent-At-Canterbury and Johor Baru's sister city, Istanbul.
“For the transformation project to succeed, the Johor Baru city centre has to be pedestrianised instead of having vehicular traffic,'' he said.
Looking at some of the vibrant cities in the world, the trend now was to attract pedestrians that businesses and landowners found to be greater contributors to economic activities in the areas.
On that note, Irda is looking at the tramway as an option for Jalan Wong Ah Fook to transport people into the city and discourage them from driving in.
It will look at tram services in San Francisco and Istanbul where the systems have successfully served as transportation modes for locals and tourists.
 
PETALING JAYA: Despite the unending controversies that have beleaguered Eastern & Oriental Bhd (E&O) since last year, the niche property developer is forging ahead with its next flagship development in Iskandar Malaysia.

The Penang-based company is looking southwards to Johor's new growth region to build a wellness-themed township called Medini Integrated Wellness Capital.

Deputy managing director Eric Chan told StarBiz that the project, which is still in its early stages, could be launched as early as next year.

The Wellness Capital, with a gross development value of RM3bil, will occupy 210 acres in Medini, one of the clusters in Iskandar. The land was bought for RM350mil in mid-2011.

p4-chan.JPG


Chan said this would be E&O's maiden foray into Johor, and the first of its kind wellness-based township in the region.

“We believe the market is moving in this direction,” he said of the rationale for the focus on wellness, adding that the idea was first mooted by Khazanah Nasional Bhd.

According to Chan, this was not an entirely new concept as there have been similar developments in Canada and other countries.

The project will be undertaken by Nuri Merdu Sdn Bhd, which is a 50:50 joint-venture (JV) between Galaxy Prestige Sdn Bhd, a wholly-owned subsidiary of E&O, and Pulau Indah Ventures Sdn Bhd.

Pulau Indah Ventures is a 50:50 JV between Teluk Rubiah Ventures Sdn Bhd, a wholly-owned subsidiary of Khazanah Nasional, and Aneto Investments Pte Ltd, an indirect wholly-owned subsidiary of Temasek Holdings (Pte) Ltd.

E&O is responsible for the overall project management as well as sales and marketing.

As its partners are the sovereign wealth funds of both Malaysia and Singapore, a working model of the project was presented to the respective countries' Prime Ministers during their leaders retreat in Putrajaya in January.

The Wellness Capital will comprise two main portions the Medini Estate, which is the overall development, and the Medini Sanctuary, its 12.5 acre core. The township is fringed by a natural mangrove forest.

Chan said an operator would be brought in to run the Sanctuary by the end of the year.

“It is too early to throw out their names. We have not identified anyone yet but a few names have come forward. We will do the rounds to visit their facilities after Chinese New Year.

“Of course, Khanazah and Temasek can use their network to help us get the best team on board,” he said.

He added that the residential side would comprise 96 bungalows, 68 semi-detached homes, 445 terrace houses, 1,415 condominium units and one block of serviced apartments. Some 18 acres have been earmarked for commercial property.

However, this was a work-in-progress and the final numbers were subject to change, he pointed out.

In keeping with the wellness theme, Chan said the township might allocate 20 acres for food planting and fish farming.

On its target customers, Chan explained that they would be locals and foreigners above 40 years of age and from the middle-income group.

“Why 40 and above? Because they have typically acquired some capital by that age and can understand the need to spend money to prolong one's quality and active years,” he said.

He stressed that the development would not cater specifically for the “super-rich” and would be affordable to regular wage-earners.

In terms of returns, Chan said the development was expected to generate a 20% to 25% profit margin in two or three years, similar to E&O's previous projects, and begin contributing to earnings two years after its launch.

http://biz.thestar.com.my/news/story.asp?file=/2012/2/7/business/10686496&sec=business
 
Hello everyone!

I have been reading the thread but had nothing to contribute as yet since I'm reading to digest all the huge amount of info and personal insights. Our unit at The Golf should be ready by Q3 or Q4, so while we are excited, we are quite nervous with the commute and the initial adjustments! :*:

Hmmmm.....but for the sake of fresh air!! Yay!

It has been a pleasure to read all that's have been shared, and a big thank you to all for all your insights! :D
 
Thursday February 2, 2012

UMLand to start mixed project in downtown Johor Baru

By ZAZALI MUSA
[email protected]

http://biz.thestar.com.my/news/story.asp?file=/2012/2/2/business/10566535

PASIR GUDANG: United Malayan Land Bhd (UMLand) plans to start its multi-million ringgit mixed development project in Jalan Wong Ah Fook in downtown Johor Baru this year.

Group chief Pee Tong Lim said the project was now in the planning stage which included the gross development value (GDV), land utilisation and other related development details.

“We are looking at building a hotel block, a serviced apartment tower and a retail podium on the site,'' he said at the opening of the company's sales gallery and corporate office Galleria Seri Alam here by UMLand chairman Tun Musa Hitam.

Also present at the events were the company's executive director Datuk Ng Eng Tee, UMLand's subsidiary Seri Alam Properties Sdn Bhd general manager Frankie Tan Kiat How and Iskandar Regional Development Authority chief executive officer Ismail Ibrahim.

Pee said he hoped the project would start concurrently with the RM1.8bil Johor Baru City Centre transformation plan which is expected to start either in the second or the third-quarter of the year.

The land is situated opposite Kompleks Tun Abdul Razak and just a short distance from JB City Square shopping mall.

Under the transformation plan, Sungai Segget which has been covered and turned into a pedestrian walkway would be opened up and beautified similar to the famous Cheonggyecheon river in downtown Seoul.

Separately, Pee said the company's joint venture project with UEM Land Bhd, the master developer of Nusajaya at Puteri Harbour, would start early next month.
 
ahem ahem...i heard i hv been summoned by HRH...
Since we may moved in during 4Q2012, why not hv one sammyboy P8 gathering by the lakeside then.
It can be a Precinct 8 move-in cum house warming cum Christmas cum New Year celebration...
We can JV with UEMLand for the organizing and partial sponsorship as well as some local business to partake in the event...hmmm...maybe can even organize a small run around the lake and get F&N to sponsor 100Plus drinks...also a fishing competition too...hmmm...
Let's make the P8 community an active one! We will only need 5-10 active residents to be in the organizing committee. In this forum, we should already have at least 3-4 already... :)
Open Position: Chairperson, Asst. Chair-Secretary, Treasurer, F&B Coordinator, Fun&Games Coordinator & Logistics Coordinator. :)

Can move in so early meh? Now only 35% completion nia.
 
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