UEM CS3 Heading south, UEMS — the flagship company for the property businesses of UEM Group and Khazanah Nasional Bhd — is expected to rope in Lend Lease to operate the Mall of Medini in Iskandar Johor. The Mall of Medini project is a 55:45 joint venture between UEMS and Iskandar Investment Bhd (IIB). This development spans some 35 acres and comprises street-style retail, entertainment facilities, shopping malls and serviced apartments designed to provide a unique retail, entertainment and lifestyle experience. The street-style retail component has been completed and the remaining components are expected to be completed in 2017. UEMS is also expected to sign a deal that could see the debut of the Fullerton hospitality brand in Malaysia. Hong Kong’s Sino Group and its Singapore affiliate Far East operate the luxury class The Fullerton Bay Hotel and The Fullerton Hotel in Singapore. It is learnt that the Fullerton Hotel, which is popular for its chocolate buffets, will have a presence in Puteri Habour. Sources say that the deal may extend to include another hotel brand under the group call Oasia. However, it could not be determined if the collaborations will merely be a management deal or if the foreign party will invest in the development of the hotel. Should these two hotel brands have a presence in Puteri Harbour, the hotels will join two other brands already there — the currently operational Traders Hotel and the soon to open Somerset Serviced Residence. Yet another deal expected to be inked between UEMS and UM Land is a joint venture for the development of retirement condominiums. Details of this partnership remain sketchy. Both companies already have a 50:50 joint venture for a RM1 billion GDV project in parcel CS3 in Puteri Harbour located on a 6.7-acre site. The Somerset project is in fact a joint venture project between UM Land and UEMS. Based on UEMS’ presentation material dated January 2014, it has 68.4 acres remaining in Puteri Harbour for development.
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New developments to share
- Thread starter wuqi256
- Start date
Either shortage of big parcel of land or land price near Singapore has gone up so high it's cheaper to build an island from scratch.
Country Garden to build massive island in Johor
Jun 16, 2014
China-based developer Country Garden Holdings will build a man-made island near Pendas, Johor with the help of Kumpulan Prasarana Rakyat Johor (KPRJ), the state’s economic development division.
Dubbed as the Forest City, the project spans more than 5,000 acres and will be developed over the course of 30 years. It is located near Johor’s second link and will comprise high-end homes.
“This will be a massive mixed development and the investment and commitment shows our confidence in the Malaysia market,” according to Kayson Yuen, Country Garden’s Regional President for Malaysia.
“We decided in the investment because the land cost was reasonable. I cannot remember the exact price but we have committed towards the project,” he said.
While there are concerns over the project’s environmental impact, Country Garden has assured everyone that it has been thoroughly studied for more than a year before the go signal was given.
The Chinese firm also engaged an Australian consultant, who helped build Sentosa Island in Singapore. The project was also supposed to be announced back in March, but its announcement was delayed due to the MH370 tragedy.
Country Garden to build massive island in Johor
Jun 16, 2014
China-based developer Country Garden Holdings will build a man-made island near Pendas, Johor with the help of Kumpulan Prasarana Rakyat Johor (KPRJ), the state’s economic development division.
Dubbed as the Forest City, the project spans more than 5,000 acres and will be developed over the course of 30 years. It is located near Johor’s second link and will comprise high-end homes.
“This will be a massive mixed development and the investment and commitment shows our confidence in the Malaysia market,” according to Kayson Yuen, Country Garden’s Regional President for Malaysia.
“We decided in the investment because the land cost was reasonable. I cannot remember the exact price but we have committed towards the project,” he said.
While there are concerns over the project’s environmental impact, Country Garden has assured everyone that it has been thoroughly studied for more than a year before the go signal was given.
The Chinese firm also engaged an Australian consultant, who helped build Sentosa Island in Singapore. The project was also supposed to be announced back in March, but its announcement was delayed due to the MH370 tragedy.
How can e boss not know e price
Yup, something is fishy...dunno why he does not want to disclose...
something BIG must be brewing at Nusajaya, else why would they spend billions to reclaim land ?
humm..... I hope to see more industrial / commercial project than condo project..... . Hope that the situation of the over supply might not happen as what is reported in the last Sunday ST.
It is not sustainable for any residence project without the main supporting factors like job creation.
It is not sustainable for any residence project without the main supporting factors like job creation.
For condo or landed, as reported? I din catch e report as I don't subscribe to ST.
because they can sell Waterfront living at exorbitant prices! johor not enough waterfront. let's build an island!
Opps.... it is the Chinese new paper - 早报, reporting about the total resident projects coming on stream in the next few years. It is very importance that Iskandar need to create job via industrial / commercial, which is the real demand than building condo / house etc
Just my 2 cents worth of comments.
Thanks. There will definitely be more companies, but not those high end type. They dont even have an EDB equivalent to do e proper job. The flip flop policies r not helpful.
Strange tt the govt collects so much levies n taxes, but pushes out improvements n attract MNCs so slowly.
This new island will stick like a thumb as it will be close to Singapore boundary , guess why politics ? Malaysia loss the ICA disputed 'rock -light house' to Singapore & sultan said recently not happy & will re-appeal.
Show of power & size , I can get close to you , narrow your straits & don't play with big brother!!!!!!!!!
Build a casino lor. The UMNO say no to casino in Johor but they never say NO to casino outside Johor mainland ma
Makes a lot of sense really. Not a lot of seaview land near to 2nd link, certainly not 3 times the size of Ang Mo Kio. Most are owned by GLCs. 3-4 years ago, I couldn't quite understand what Vincent Tan was doing reclaiming land at Danga Bay, when there's so much land around. Fast forward 3-4 years later, you begin to appreciate the vision of these corporate bigwigs.
So it's all about getting the sea view land, reclaimed or not. Yes there is plenty of land in JB but sea view ones are in low supply...basic demand and supply at work.
Seaview land yes, but it must also be near to SG 1st & 2nd links to generate value.....That's why Malaysia is so keen on 3rd link, but SG not so keen. If Temasek can acquire huge land plots around 3rd link in Pasir Gudang area, then I think SG will talk.
Seaview land that is near the links at the moment are only at Puteri Harbour, Danga Bay and Tg Puteri. So all these will do well ?
oops, forgot about Senibong Cove :P
Best bet imho is to "follow the infrastructure", as Ho Chin Soon would say. Personally I am not so swayed by the seaviews, if the infrastructure doesn't come up. If it's a seaview with infrastructure, it's a sure winner. You would also like to stay in a seaview property with great amenities right?
http://www.hochinsoon.com/freebies.htm
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