Dear prof, I truly miss your comments after a particular thread on another forum went dead. Can pls enlighten me where else I can view your actions and thoughts (esp. on those properties you have vested in)?
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New developments to share
- Thread starter wuqi256
- Start date
Dear prof, I truly miss your comments after a particular thread on another forum went dead. Can pls enlighten me where else I can view your actions and thoughts (esp. on those properties you have vested in)?
- Joined
- Oct 3, 2012
- Messages
- 2,705
- Points
- 48
In a rush today, missing a "house"
Originally Posted by potter
In SG, buying a SG500k house is high for local ppl.
In MY, buying a RM500k house is also high for local ppl.
It took me so much time to realize "Earn $" is not the right way, maybe bcos being educated with..
Originally Posted by potter
In SG, buying a SG500k house is high for local ppl.
In MY, buying a RM500k house is also high for local ppl.
It took me so much time to realize "Earn $" is not the right way, maybe bcos being educated with..
- Joined
- Mar 3, 2009
- Messages
- 6,807
- Points
- 63
Dear all, please help to work with me to keep the threads commercial free unless one needs to post commercial ads, etc.
If commercial postings are required, please PM Boss Sam Leong or myself for more details.
Postings of ones experience with contractors, etc are still ok but property ads or new launches, please PM us first.
Thank you
If commercial postings are required, please PM Boss Sam Leong or myself for more details.
Postings of ones experience with contractors, etc are still ok but property ads or new launches, please PM us first.
Thank you
- Joined
- Dec 2, 2012
- Messages
- 2,510
- Points
- 48
Initially plan to buy Penang or KL, but sudden move in JB catch my eye.
- Joined
- Dec 2, 2012
- Messages
- 2,510
- Points
- 48
Reflections and expectations
THEN AND NOW- Industry leaders look back on the year that was and outline their plans for the times ahead
BASED on the strategic roadmap, 2012 was the tipping point for Iskandar Malaysia and we have reached that as most of the catalytic projects that we planned have been completed.
The next stage of development is to make the Iskandar region a metropolis of international standing, comparable to London, New York, Auckland and Singapore, in a bid to become among the world's 10 most liveable cities.
The investment put in by the federal government in building new infrastructure and improving existing infrastructure, coupled with catalytic projects, have equated to the current situation we're seeing in Iskandar Malaysia, which is buzzing with activities.
Perhaps, we shouldn't have been too 'cautiously optimistic' in developing Iskandar Malaysia. We should have built more five-star hotels. We have shortage of rooms now in Johor.
OUR Bank Negara Malaysia governor (Tan Sri Dr Zeti Akhtar Aziz) has reiterated her optimism that the economy will continue to do well in 2013 despite challenges in the global economy.
The growth of the Malaysian economy is expected to be in the region of 5.0 per cent this year and this would be made possible by the resilience displayed by the domestic economy, which was fuelled by domestic private investments.
The local property market is very much domestically-driven. So long as it is a good concept in the right location and the products cater to the market's demand, it will do well.
We expect the residential market to continue being the main driver for property sales this year, similar to previous years' trends.
For Mah Sing, we are focusing on landed residential projects and niche size high-rise projects.
In the commercial segment, retail offices in good schemes, smaller SoHo and SoVo properties should do well due to the affordable price points and the lack of such supply in selected locations, especially in integrated development projects.
We are particularly confident about mass market housing for the middle-income class where there is pent-up demand for basic shelter.
THE Malaysian Real Estate Investment Trusts (M-REITs) industry is seeing exciting times ahead. The current total market capitalisation of RM24.1 billion is projected to exceed RM35 billion with the proposed formation of KLCCP Stapled Group.
The growth of M-REITs in the last two years has enhanced the visibility and prominence of M-REITs among international investors.
From a relatively small and unknown market in Asia, M-REITs is now ranked fourth (by market cap) in Asia after Japan, Singapore and Hong Kong. In Southeast Asia, M-REITs is ranked second (by market cap) after Singapore.
For acquisition purpose, the use of debt financing is timely due to the availability of "cheap" financing.
In essence, the environment is conducive for M-REITs to embark on acquisition trail. But vendors may be equally demanding in their asking price.
CERTAINLY, deepwater capabilities are key to accessing some of the significantly liquid resources that are available worldwide. And in Malaysia, we expect to have four sanctioned projects coming online that will deliver up to 75,000 barrels a day of production by 2016.
We are spending about US$500 million a year right now on these projects that have up to 20 per cent types of returns. And they provide a strong liquids ramp in our portfolio.
We have additional opportunities in this complex that are being appraised and ready for sanction in the next few years to continue the growth and development of our Malaysian positions.
MALAYSIA'S economic resilience in 2012 was remarkable, especially against the backdrop of an European financial crisis and sluggish growth in China, but it drove domestic demand growth for energy that required the industry to draw on all its resources.
As an industry, we (Shell) have made investments to increase capacity over the years, so we are able to meet the demand growth.
The Gumusut-Kakap development - a deepwater joint venture between Petronas, Shell, ConocoPhillips and Murphy Oil Corp - is an example where its early production added 25,000 barrels per day of oil to the country's production.
For 2012, Shell Malaysia took the decision to invest and look for oil and gas, with the signing of several production- sharing contracts.
To address issues pertaining to the production decline, we will continue investing in new fields as well as extending the life of existing fields with the aim to maintain the production levels.
Our ongoing and new contracts underpin Shell's commitment to Malaysia as a heartland, where we already invest an average of around US$1 billion annually
Looking forward, more Malaysia's oil and gas will be produced in increasingly challenging conditions, and this requires us to bring high-end technology and innovation.
-btimes.com
THEN AND NOW- Industry leaders look back on the year that was and outline their plans for the times ahead
BASED on the strategic roadmap, 2012 was the tipping point for Iskandar Malaysia and we have reached that as most of the catalytic projects that we planned have been completed.
The next stage of development is to make the Iskandar region a metropolis of international standing, comparable to London, New York, Auckland and Singapore, in a bid to become among the world's 10 most liveable cities.
The investment put in by the federal government in building new infrastructure and improving existing infrastructure, coupled with catalytic projects, have equated to the current situation we're seeing in Iskandar Malaysia, which is buzzing with activities.
Perhaps, we shouldn't have been too 'cautiously optimistic' in developing Iskandar Malaysia. We should have built more five-star hotels. We have shortage of rooms now in Johor.
OUR Bank Negara Malaysia governor (Tan Sri Dr Zeti Akhtar Aziz) has reiterated her optimism that the economy will continue to do well in 2013 despite challenges in the global economy.
The growth of the Malaysian economy is expected to be in the region of 5.0 per cent this year and this would be made possible by the resilience displayed by the domestic economy, which was fuelled by domestic private investments.
The local property market is very much domestically-driven. So long as it is a good concept in the right location and the products cater to the market's demand, it will do well.
We expect the residential market to continue being the main driver for property sales this year, similar to previous years' trends.
For Mah Sing, we are focusing on landed residential projects and niche size high-rise projects.
In the commercial segment, retail offices in good schemes, smaller SoHo and SoVo properties should do well due to the affordable price points and the lack of such supply in selected locations, especially in integrated development projects.
We are particularly confident about mass market housing for the middle-income class where there is pent-up demand for basic shelter.
THE Malaysian Real Estate Investment Trusts (M-REITs) industry is seeing exciting times ahead. The current total market capitalisation of RM24.1 billion is projected to exceed RM35 billion with the proposed formation of KLCCP Stapled Group.
The growth of M-REITs in the last two years has enhanced the visibility and prominence of M-REITs among international investors.
From a relatively small and unknown market in Asia, M-REITs is now ranked fourth (by market cap) in Asia after Japan, Singapore and Hong Kong. In Southeast Asia, M-REITs is ranked second (by market cap) after Singapore.
For acquisition purpose, the use of debt financing is timely due to the availability of "cheap" financing.
In essence, the environment is conducive for M-REITs to embark on acquisition trail. But vendors may be equally demanding in their asking price.
CERTAINLY, deepwater capabilities are key to accessing some of the significantly liquid resources that are available worldwide. And in Malaysia, we expect to have four sanctioned projects coming online that will deliver up to 75,000 barrels a day of production by 2016.
We are spending about US$500 million a year right now on these projects that have up to 20 per cent types of returns. And they provide a strong liquids ramp in our portfolio.
We have additional opportunities in this complex that are being appraised and ready for sanction in the next few years to continue the growth and development of our Malaysian positions.
MALAYSIA'S economic resilience in 2012 was remarkable, especially against the backdrop of an European financial crisis and sluggish growth in China, but it drove domestic demand growth for energy that required the industry to draw on all its resources.
As an industry, we (Shell) have made investments to increase capacity over the years, so we are able to meet the demand growth.
The Gumusut-Kakap development - a deepwater joint venture between Petronas, Shell, ConocoPhillips and Murphy Oil Corp - is an example where its early production added 25,000 barrels per day of oil to the country's production.
For 2012, Shell Malaysia took the decision to invest and look for oil and gas, with the signing of several production- sharing contracts.
To address issues pertaining to the production decline, we will continue investing in new fields as well as extending the life of existing fields with the aim to maintain the production levels.
Our ongoing and new contracts underpin Shell's commitment to Malaysia as a heartland, where we already invest an average of around US$1 billion annually
Looking forward, more Malaysia's oil and gas will be produced in increasingly challenging conditions, and this requires us to bring high-end technology and innovation.
-btimes.com
- Joined
- Dec 2, 2012
- Messages
- 2,510
- Points
- 48
Re: Reflections and expectations
Mega Green Project in Iskandar......
http://earthtechling.com/2013/01/living-large-green-megaprojects-of-the-future/
Mega Green Project in Iskandar......
http://earthtechling.com/2013/01/living-large-green-megaprojects-of-the-future/
Bro, like to clarify If your post is in reference to the links and videos..
- Joined
- Mar 3, 2009
- Messages
- 6,807
- Points
- 63
No, that is fine as long as its not spamming and openly promoting commercial items.
Hi all dear forummers,
Let me intro, I'm Justin fr Huttons Int. In 2013, many Msian developers will market their proj in Sg and
Huttons will be Sg marketing agency. My purpose is to share more info on these upcoming projs. As I understand this is a discussion forum, I'll keep it as concise but informative. Feel free to PM me so I can share more with them. Thank you, hope to hear from you
Paragon Suites Launching in January
View attachment 8644
Feel free to PM
Let me intro, I'm Justin fr Huttons Int. In 2013, many Msian developers will market their proj in Sg and
Huttons will be Sg marketing agency. My purpose is to share more info on these upcoming projs. As I understand this is a discussion forum, I'll keep it as concise but informative. Feel free to PM me so I can share more with them. Thank you, hope to hear from you
Paragon Suites Launching in January
View attachment 8644
Feel free to PM
- Joined
- Dec 2, 2012
- Messages
- 2,510
- Points
- 48
Paragon Suites launching before chinese new year. Anyone got more info?
2 Towers of 33 Storeys, 461 units:
Tower A – 224 Units
Each floor 9 units
Tower B – 237 Units
Each floor 10 units
Unit Sizes:
1bedroom = 641 sqft
2 bedrooms = 909/988 sqft
3+1 = 1,381 & 1,695 sqft
3+2 bdm = 1,482 sqft
Security:
3 Tier Security System
- Security Guard Post
- Lobby Entrance
- Lift Personal Access Card
Tenure:
Freehold
2 Towers of 33 Storeys, 461 units:
Tower A – 224 Units
Each floor 9 units
Tower B – 237 Units
Each floor 10 units
Unit Sizes:
1bedroom = 641 sqft
2 bedrooms = 909/988 sqft
3+1 = 1,381 & 1,695 sqft
3+2 bdm = 1,482 sqft
Security:
3 Tier Security System
- Security Guard Post
- Lobby Entrance
- Lift Personal Access Card
Tenure:
Freehold
Video
www.youtube.com/watch?v=_BXtDWDPotQ&sns=em
Start from 208k sgd, 641sf. That's 800psf. If each flr is +5k, top flr is 1.3k psf?!??
www.youtube.com/watch?v=_BXtDWDPotQ&sns=em
Start from 208k sgd, 641sf. That's 800psf. If each flr is +5k, top flr is 1.3k psf?!??
- Joined
- Jan 5, 2013
- Messages
- 357
- Points
- 0
http://propertylaunchlist.com/paragon-suites-at-iskandar-johor-bahru/
Location seems inferior than Matex
Location seems inferior than Matex
- Joined
- Nov 24, 2011
- Messages
- 200
- Points
- 18
Got this from PropertyBuzz FB:
Type A – 641 Sqft Fully Furnished (1 BR/1 Bath) ,1 carpark
Type B - 909 Sqft (2 BR/2 Bath) ,1 carpark
Type B1 – 988 Sqft (2 BR / 2 Bath) ,1 carpark
Type C – 1381 Sqft (3+1 BR / 4 Bath) ,2 carpark
Type D – 1482 Sqft (3+2 BR / 4 Bath) ,2 carpark
Type E – 1695 Sqft (3+1 BR / 4 Bath) ,2 carpark
Price start from S$208k，或RM5xxk起！
For Early Birds Deal!
Early Bird Discount 10%
FREE SPA Legal Fee & MOT / Stamp Duty
FREE Loan Legal Fee & Stamp Duty
DIBS (Developer Interest Bearing Scheme)
2-years developer defects warranty
Others: All Bedrooms with Aircon & Wardrobe, Living Room With Aircon, Kitchen With Kitchen Cabinet (Top and Bottom)… etc
Jan19 is the soft launch date！
Type A – 641 Sqft Fully Furnished (1 BR/1 Bath) ,1 carpark
Type B - 909 Sqft (2 BR/2 Bath) ,1 carpark
Type B1 – 988 Sqft (2 BR / 2 Bath) ,1 carpark
Type C – 1381 Sqft (3+1 BR / 4 Bath) ,2 carpark
Type D – 1482 Sqft (3+2 BR / 4 Bath) ,2 carpark
Type E – 1695 Sqft (3+1 BR / 4 Bath) ,2 carpark
Price start from S$208k，或RM5xxk起！
For Early Birds Deal!
Early Bird Discount 10%
FREE SPA Legal Fee & MOT / Stamp Duty
FREE Loan Legal Fee & Stamp Duty
DIBS (Developer Interest Bearing Scheme)
2-years developer defects warranty
Others: All Bedrooms with Aircon & Wardrobe, Living Room With Aircon, Kitchen With Kitchen Cabinet (Top and Bottom)… etc
Jan19 is the soft launch date！
- Joined
- Jan 5, 2013
- Messages
- 357
- Points
- 0
Paragon Suites.1) It is a specutalor packages. If you can get 90% loan, the initial 10% will be settled via by the early bird rebate. It is no money down basically. attract speculators
2) Comparing with Matex. Matex location/developer/design/amenties/current accessibility beats Paragon Suites hand down. Matex is in fact cheaper..
Paragon Suites is nearer to Vantage Bay. It is not really within walking distance to CIQ as there is mininal pedestrian linkages. RTS location
2) Comparing with Matex. Matex location/developer/design/amenties/current accessibility beats Paragon Suites hand down. Matex is in fact cheaper..
Paragon Suites is nearer to Vantage Bay. It is not really within walking distance to CIQ as there is mininal pedestrian linkages. RTS location
Iskandar now poised to roll in the money
Posted on January 3, 2013 - Investment.
By Chee Su-Lin | [email protected]
With most projects now broken ground or operating, Iskandar Malaysia is in position to rake in the value from investments made
L-R: Wan Abdullah, Ismail and Syed Mohamed
Was it a rebranding, the entry of the Singapore government’s own investment vehicles, improved bilateral relations, or the entry of crucial names like Pinewood Studios (of James Bond fame), Legoland, Marlborough College (of Kate Middleton fame), Traders Hotel and the Hello Kitty theme park? Or was it the attractive tax and government incentives, the heating up of the Singapore property market, or just timing in its serendipitous mysterious way? Whatever it is, it seems like the Iskandar Malaysia economic region in southern Johor, since its grand scheme was announced as the South Johor Economic Region about seven years ago, is coming together.
With several new projects announced recently, the master developers of Nusajaya (where much of the development is taking place)—UEM Land and Iskandar Investment Bhd—are poised to reap the rewards of their investment.
The Legoland Hotel is under construction.
“Whatever that was planned in 2006 and 2007, we have together delivered what was promised,” said Iskandar Investment Bhd CEO Datuk Syed Mohamed Syed Ibrahim at the recent “Living Nusajaya” media tour. “Now, we will embark on the next stage of growth or what we call the value creation stage to leverage on what we have achieved.”
UEM Land CEO Dato’ Wan Abdullah Wan Ibrahim expected Iskandar and Nusajaya to “make a lot of money for a long time” for UEM Holdings. “Already, you hear from our financial announcements, year on year, that we have been growing quite fast.”
Much of the revenues will come from increased property sales at prices that have appreciated significantly. There has been a steep rise in demand in UEM Land’s Nusajaya properties by various buyers, said Wan Abdullah. These buyers range from Singaporeans to Malaysians and expats working in Singapore as well as regional buyers (see the five categories at right).
While committed investments in Iskandar have increased from about RM11bil in 2006 to about RM100bil this year, according to Iskandar Regional Development Authority CEO Datuk Ismail Ibrahim, 37% of that RM100bil has come from foreign investors, with the balance coming from Malaysians. When it comes to the high-end properties, however, the proportion of foreign investors rises to 50% or even 70%, said UEM Land representatives.
A recent phenomenon has been the launch of UEM Land’s Teega condominiums in Puteri Harbour, Nusajaya. “At its recent launch, we put on the market two towers, about 900 units, and 750 units were sold within two days,” said Wan. “I had no choice but to put a stop to it.”
“In Singapore, properties are reaching S$1,000 per sq ft, so even if properties in Iskandar are RM1,000 per sq ft, that’s still cheap to them,” explained Rahim & Co (Johor) executive director Loo Kung Hoe. “Like in Puteri Harbour, there is now a ferry going across and it’s so easy. All these projects, they grab! And the shop office launches, they are selling like hot cakes!”
Notable educational facilities also help attract residents into Iskandar. “A lot of parents are contemplating relocation into the Iskandar region,” said Bob Pick, master of Marlborough College. “A lot of people have not bought a house here until they were offered a place in the school. Horizon Hills, East Ledang, Leisure Farm, Ledang Heights, have all benefited from the presence of the school.”
Newly launched properties in Iskandar appreciated 20% to 30% last year, added Loo, while the secondary market appreciated by 10%. Indeed, he says that he expects 2013 to see more appreciation of about 10% to 20%.
Horizon Hills is a golf resort development with some property phases yet to be launched.
The Horizon Hills bungalows for example were launched three years ago at approximately RM1.8mil. “Now it’s already increased to nine units on the right hand side selling at RM3.2mil,” said Horizon Hills Golf and Country Resort’s senior club manager Alan Kee. Kee related that he has even heard of offers at RM5mil for these houses, which are currently in the process of being handed over.
Together with this increased demand has also been an increase of interest in Iskandar land by Malaysian property developers from Kuala Lumpur, from Sunway and Dijaya to Mah Sing and SP Setia. “Earlier there was not much interest coming from local investment,” said Ismail. “They took this ‘wait and see’ attitude. Today, 63% of the total RM100bil of committed investment is coming from local investors.”
Of course, this slew of activities has been catalysed at some cost to the government, which has utilised resources from Khazanah Nasional as well as EPF, among others. Also, many companies were offered attractive packages, including tax breaks, to establish themselves in Iskandar. Companies carrying out a range of promoted activities are accorded pioneer status which offers tax exemption for five to ten years, while knowledge workers receive a maximum tax rate of only 15%.
On the other side of the coin, valuer Dr Ernest Cheong would like to counsel caution amongst all this real estate euphoria. “If the recession in Singapore gets worse, properties in Iskandar may remain unsold. Malaysians, either in Johor or from other parts, cannot afford to buy these high-priced properties. Remember what happened to Johor and Johor Bahru during the 1997/1998 Asian Crisis, and to a lesser degree the global banking crisis in 2008? At that time there was a glut of properties in Johor Bahru that were meant for Singaporeans that went unsold.
“When a detached house increases in ‘value’ in three years from RM1.8mil to RM3.2mil or even RM5mil (about twice within three years) I see alarm bells ringing… We saw the same kind of hype surrounding property investments in Ireland and Spain.”
This would especially be true if a significant amount of buying activity in Iskandar has come from speculators, developers and investors parking their “flight money” (money avoiding taxes, law enforcement detection or economic instability) there, as Cheong suggests.
Either way, several projects in this part of Johor have certainly materialised, from the stage of building plans and ground breaking to handover and occupation. From the days when the Tuas Second Link first opened in 1998 next to hectares of tiger-inhabited oil palm plantations, mangrove swamps and villages famous for otak otak, these hectares now see multinational companies, global brands, international schools and cosmopolitan residents. And slowly, this expanse of land is filling up.
Artist’s impression of the Puteri Harbour catalyst development
Related articles:
Iskandar attractors
Iskandar and Nusajaya FAQs
7 Iskandar investment tips
A modern Iskandar mansion for a tenth the price
Iskandar Malaysia: Full steam ahead
Cheaper labour biggest factor for Singaporean company to locate in Iskandar
Johor property market may face oversupply in the longer term
Posted on January 3, 2013 - Investment.
By Chee Su-Lin | [email protected]
With most projects now broken ground or operating, Iskandar Malaysia is in position to rake in the value from investments made
L-R: Wan Abdullah, Ismail and Syed Mohamed
Was it a rebranding, the entry of the Singapore government’s own investment vehicles, improved bilateral relations, or the entry of crucial names like Pinewood Studios (of James Bond fame), Legoland, Marlborough College (of Kate Middleton fame), Traders Hotel and the Hello Kitty theme park? Or was it the attractive tax and government incentives, the heating up of the Singapore property market, or just timing in its serendipitous mysterious way? Whatever it is, it seems like the Iskandar Malaysia economic region in southern Johor, since its grand scheme was announced as the South Johor Economic Region about seven years ago, is coming together.
With several new projects announced recently, the master developers of Nusajaya (where much of the development is taking place)—UEM Land and Iskandar Investment Bhd—are poised to reap the rewards of their investment.
The Legoland Hotel is under construction.
“Whatever that was planned in 2006 and 2007, we have together delivered what was promised,” said Iskandar Investment Bhd CEO Datuk Syed Mohamed Syed Ibrahim at the recent “Living Nusajaya” media tour. “Now, we will embark on the next stage of growth or what we call the value creation stage to leverage on what we have achieved.”
UEM Land CEO Dato’ Wan Abdullah Wan Ibrahim expected Iskandar and Nusajaya to “make a lot of money for a long time” for UEM Holdings. “Already, you hear from our financial announcements, year on year, that we have been growing quite fast.”
Much of the revenues will come from increased property sales at prices that have appreciated significantly. There has been a steep rise in demand in UEM Land’s Nusajaya properties by various buyers, said Wan Abdullah. These buyers range from Singaporeans to Malaysians and expats working in Singapore as well as regional buyers (see the five categories at right).
While committed investments in Iskandar have increased from about RM11bil in 2006 to about RM100bil this year, according to Iskandar Regional Development Authority CEO Datuk Ismail Ibrahim, 37% of that RM100bil has come from foreign investors, with the balance coming from Malaysians. When it comes to the high-end properties, however, the proportion of foreign investors rises to 50% or even 70%, said UEM Land representatives.
A recent phenomenon has been the launch of UEM Land’s Teega condominiums in Puteri Harbour, Nusajaya. “At its recent launch, we put on the market two towers, about 900 units, and 750 units were sold within two days,” said Wan. “I had no choice but to put a stop to it.”
“In Singapore, properties are reaching S$1,000 per sq ft, so even if properties in Iskandar are RM1,000 per sq ft, that’s still cheap to them,” explained Rahim & Co (Johor) executive director Loo Kung Hoe. “Like in Puteri Harbour, there is now a ferry going across and it’s so easy. All these projects, they grab! And the shop office launches, they are selling like hot cakes!”
Notable educational facilities also help attract residents into Iskandar. “A lot of parents are contemplating relocation into the Iskandar region,” said Bob Pick, master of Marlborough College. “A lot of people have not bought a house here until they were offered a place in the school. Horizon Hills, East Ledang, Leisure Farm, Ledang Heights, have all benefited from the presence of the school.”
Newly launched properties in Iskandar appreciated 20% to 30% last year, added Loo, while the secondary market appreciated by 10%. Indeed, he says that he expects 2013 to see more appreciation of about 10% to 20%.
Horizon Hills is a golf resort development with some property phases yet to be launched.
The Horizon Hills bungalows for example were launched three years ago at approximately RM1.8mil. “Now it’s already increased to nine units on the right hand side selling at RM3.2mil,” said Horizon Hills Golf and Country Resort’s senior club manager Alan Kee. Kee related that he has even heard of offers at RM5mil for these houses, which are currently in the process of being handed over.
Together with this increased demand has also been an increase of interest in Iskandar land by Malaysian property developers from Kuala Lumpur, from Sunway and Dijaya to Mah Sing and SP Setia. “Earlier there was not much interest coming from local investment,” said Ismail. “They took this ‘wait and see’ attitude. Today, 63% of the total RM100bil of committed investment is coming from local investors.”
Of course, this slew of activities has been catalysed at some cost to the government, which has utilised resources from Khazanah Nasional as well as EPF, among others. Also, many companies were offered attractive packages, including tax breaks, to establish themselves in Iskandar. Companies carrying out a range of promoted activities are accorded pioneer status which offers tax exemption for five to ten years, while knowledge workers receive a maximum tax rate of only 15%.
On the other side of the coin, valuer Dr Ernest Cheong would like to counsel caution amongst all this real estate euphoria. “If the recession in Singapore gets worse, properties in Iskandar may remain unsold. Malaysians, either in Johor or from other parts, cannot afford to buy these high-priced properties. Remember what happened to Johor and Johor Bahru during the 1997/1998 Asian Crisis, and to a lesser degree the global banking crisis in 2008? At that time there was a glut of properties in Johor Bahru that were meant for Singaporeans that went unsold.
“When a detached house increases in ‘value’ in three years from RM1.8mil to RM3.2mil or even RM5mil (about twice within three years) I see alarm bells ringing… We saw the same kind of hype surrounding property investments in Ireland and Spain.”
This would especially be true if a significant amount of buying activity in Iskandar has come from speculators, developers and investors parking their “flight money” (money avoiding taxes, law enforcement detection or economic instability) there, as Cheong suggests.
Either way, several projects in this part of Johor have certainly materialised, from the stage of building plans and ground breaking to handover and occupation. From the days when the Tuas Second Link first opened in 1998 next to hectares of tiger-inhabited oil palm plantations, mangrove swamps and villages famous for otak otak, these hectares now see multinational companies, global brands, international schools and cosmopolitan residents. And slowly, this expanse of land is filling up.
Artist’s impression of the Puteri Harbour catalyst development
Related articles:
Iskandar attractors
Iskandar and Nusajaya FAQs
7 Iskandar investment tips
A modern Iskandar mansion for a tenth the price
Iskandar Malaysia: Full steam ahead
Cheaper labour biggest factor for Singaporean company to locate in Iskandar
Johor property market may face oversupply in the longer term
- Joined
- Dec 2, 2012
- Messages
- 2,510
- Points
- 48
Matex may not be cheap.... It is only cheap if you buy per-launch.
When it launch it will be Paragon Suites price or much higher.
China firms bullish on Iskandar's property sector
Jan 7, 2013 - PropertyGuru.com.my
By Farah Wahida:
Iskandar Malaysia’s property sector is drawing strong interest from Chinese companies expected to invest in there in the next two years, reported The Borneo Post.
“They (Chinese investors) are very knowledgeable about Iskandar Malaysia’s potential,” said Datuk Soh Poh Seng, President of the Johor Bahru Chinese Chamber of Commerce and Industry.
“Many of them are making preparations to enter the Iskandar Malaysia market in the next two years,” he noted, adding that Chinese investors are already snapping up land plots measuring between 40.5ha to 80.9ha.
With the entry of Chinese investors, Iskandar Malaysia will likely continue its rapid growth. Apart from the region’s property sector, China-based firms are also interested in the region’s manufacturing industry.
Since 2006, RM105.1 billion worth of investments have been injected into Iskandar Malaysia, of which RM35.1 billion was for the property sector, while the manufacturing industry garnered RM33.9 billion.
Recently, China’s Country Garden Holdings Co Ltd — one of Asia’s 50 biggest firms — bought 11ha of prime waterfront land in Iskandar for RM900 million. In December 2012, UEM Land Holdings also joined forces with Chinamall Holdings Pte Ltd for the construction of a RM562 million trade and exhibition centre in Nusajaya.
Iskandar Investment Bhd (IIB) also inked an agreement with Chinese property investors, including Zhuoda Real Estate Group to develop a mixed commercial project with a gross development value of RM2.5 billion.
Despite the surge of foreign investments in Iskandar Malaysia, local investors should also be given the opportunity to take part, added Soh.
Farah Wahida, Editor of PropertyGuru, wrote this story. To contact her about this or other stories email [email protected]
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Jan 7, 2013 - PropertyGuru.com.my
By Farah Wahida:
Iskandar Malaysia’s property sector is drawing strong interest from Chinese companies expected to invest in there in the next two years, reported The Borneo Post.
“They (Chinese investors) are very knowledgeable about Iskandar Malaysia’s potential,” said Datuk Soh Poh Seng, President of the Johor Bahru Chinese Chamber of Commerce and Industry.
“Many of them are making preparations to enter the Iskandar Malaysia market in the next two years,” he noted, adding that Chinese investors are already snapping up land plots measuring between 40.5ha to 80.9ha.
With the entry of Chinese investors, Iskandar Malaysia will likely continue its rapid growth. Apart from the region’s property sector, China-based firms are also interested in the region’s manufacturing industry.
Since 2006, RM105.1 billion worth of investments have been injected into Iskandar Malaysia, of which RM35.1 billion was for the property sector, while the manufacturing industry garnered RM33.9 billion.
Recently, China’s Country Garden Holdings Co Ltd — one of Asia’s 50 biggest firms — bought 11ha of prime waterfront land in Iskandar for RM900 million. In December 2012, UEM Land Holdings also joined forces with Chinamall Holdings Pte Ltd for the construction of a RM562 million trade and exhibition centre in Nusajaya.
Iskandar Investment Bhd (IIB) also inked an agreement with Chinese property investors, including Zhuoda Real Estate Group to develop a mixed commercial project with a gross development value of RM2.5 billion.
Despite the surge of foreign investments in Iskandar Malaysia, local investors should also be given the opportunity to take part, added Soh.
Farah Wahida, Editor of PropertyGuru, wrote this story. To contact her about this or other stories email [email protected]
Related Stories:
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