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Puteri Harbour Community
- Thread starter Qube3
- Start date
This is indeed a good news. Which part of Southern location? Near Hello Kitty?
Next to ferry CIQ.
Oh .. A few months back, the uem guys told me that they will launching that area this year at ard $1000psf. Looks like uem is way too busy.. Can't handle the volumn.
Next to ferry CIQ.
Actually, can't we say that Kuok Group is already vested in Puteri Harbour/Nusajaya through the pressence of Traders Hotel?
Traders Hotel & Little Big Club is owned by Theme Resorts. Shangrila is just the operator.
A very good endorsement for Puteri Harbour. Another benchmark set. Hope this will spur more investment into Nusajaya.
==============================================================
Kuok Group’s Nusajaya Land has set a new price benchmark at RM334 psf, following the company’s acquisition of 12.5 acres of prime real estate from UEM Land Holdings for RM182 million.
Kuok Group is set to develop mixed residential and commercial buildings on the land in partnership with Khazanah Nasional.
In January, UEM Land Holdings sold 43.6 acres of land in Puteri Harbour to Liberty Bridge Sdn Bhd for RM401 million or RM211 psf. The buyer is a consortium of Singapore and Malaysian tycoons including Wee Ee Chao.
However, the land purchased by Liberty is 3.5 times larger than that bought by Kuok Group, where Robert Kuok is the controlling shareholder.
While the acquisition was small, the investment made by the tycoon in the country’s special economic zone shows his vote of confidence for the incumbent Prime Minister Najib Razak and the Barisan Nasional (BN) government in the upcoming 13th General Election on 5 May.
==============================================================
Kuok Group’s Nusajaya Land has set a new price benchmark at RM334 psf, following the company’s acquisition of 12.5 acres of prime real estate from UEM Land Holdings for RM182 million.
Kuok Group is set to develop mixed residential and commercial buildings on the land in partnership with Khazanah Nasional.
In January, UEM Land Holdings sold 43.6 acres of land in Puteri Harbour to Liberty Bridge Sdn Bhd for RM401 million or RM211 psf. The buyer is a consortium of Singapore and Malaysian tycoons including Wee Ee Chao.
However, the land purchased by Liberty is 3.5 times larger than that bought by Kuok Group, where Robert Kuok is the controlling shareholder.
While the acquisition was small, the investment made by the tycoon in the country’s special economic zone shows his vote of confidence for the incumbent Prime Minister Najib Razak and the Barisan Nasional (BN) government in the upcoming 13th General Election on 5 May.
Kuok’s investment may spur more foreign interest in Iskandar
24-4-2013
PETALING JAYA: “Sugar King” Robert Kuok's entry into Iskandar Malaysia will create a ripple effect, drawing more interest from international investors and creating new jobs and opportunities in the region.
“Because Kuok has close ties with China, more investments are also likely to pour into Iskandar Malaysia from the world's second-largest economy,” an industry observer told StarBiz.
Kuok had recently invested in a 5.06ha freehold land in Puteri Harbour, Johor, for about RM182mil.
The observer said the tycoon's entry into the region, incidentally his birthplace, would draw more international attention to the economic development in the southern region.
He also pointed out that Australian property mogul Lang Walker had invested in Iskandar because of Kuok's recommendation.
It was reported that Walker was alerted to the potential of Iskandar by Kuok, his partner in the Collins Square redevelopment project in Melbourne.
“With Kuok's help, Walker identified two sites in Johor Baru Lido Beach and Senibong, both of which were driven by the construction of a new coastal highway,” said the report.
Aside from Kuok's endorsement in the region spreading to the international business sphere, Iskandar is also set to be a beneficiary ensuing the inflow of these investments, he noted.
The observer said: “Johor's job growth prospects continue to rise on the strength of investments into Iskandar Malaysia.”
An analyst told StarBiz that the authorities would create job opportunities to support the ecosystem there.
She said the boom in different sectors like manufacturing from automobile manufacturing plants, niche developments like Motorsports City and services industries for resorts and theme parks would create various job opportunities.
She said there would be a snowball effect, as the jobs created would fuel further advancement in Iskandar.
She expected transaction prices in the region to head north, now that a record high per sq ft (psf) selling price of RM334 had been set for the Puteri Harbour land.
However, she was quick to note that the said piece of land was located in a prime spot and was one of the last few pieces fronting the marina.
The price came at a premium compared with the RM330 psf valued by Messrs Assetz Sdn Bhd.
Another analyst, meanwhile, said that while the RM182mil investment might not be as big as other transactions in the region, it was a mark of confidence from Kuok and a comeback of sorts, as the billionaire had stopped investing actively in his homeland for close to two decades.
More: http://biz.thestar.com.my/news/story...7&sec=business
24-4-2013
PETALING JAYA: “Sugar King” Robert Kuok's entry into Iskandar Malaysia will create a ripple effect, drawing more interest from international investors and creating new jobs and opportunities in the region.
“Because Kuok has close ties with China, more investments are also likely to pour into Iskandar Malaysia from the world's second-largest economy,” an industry observer told StarBiz.
Kuok had recently invested in a 5.06ha freehold land in Puteri Harbour, Johor, for about RM182mil.
The observer said the tycoon's entry into the region, incidentally his birthplace, would draw more international attention to the economic development in the southern region.
He also pointed out that Australian property mogul Lang Walker had invested in Iskandar because of Kuok's recommendation.
It was reported that Walker was alerted to the potential of Iskandar by Kuok, his partner in the Collins Square redevelopment project in Melbourne.
“With Kuok's help, Walker identified two sites in Johor Baru Lido Beach and Senibong, both of which were driven by the construction of a new coastal highway,” said the report.
Aside from Kuok's endorsement in the region spreading to the international business sphere, Iskandar is also set to be a beneficiary ensuing the inflow of these investments, he noted.
The observer said: “Johor's job growth prospects continue to rise on the strength of investments into Iskandar Malaysia.”
An analyst told StarBiz that the authorities would create job opportunities to support the ecosystem there.
She said the boom in different sectors like manufacturing from automobile manufacturing plants, niche developments like Motorsports City and services industries for resorts and theme parks would create various job opportunities.
She said there would be a snowball effect, as the jobs created would fuel further advancement in Iskandar.
She expected transaction prices in the region to head north, now that a record high per sq ft (psf) selling price of RM334 had been set for the Puteri Harbour land.
However, she was quick to note that the said piece of land was located in a prime spot and was one of the last few pieces fronting the marina.
The price came at a premium compared with the RM330 psf valued by Messrs Assetz Sdn Bhd.
Another analyst, meanwhile, said that while the RM182mil investment might not be as big as other transactions in the region, it was a mark of confidence from Kuok and a comeback of sorts, as the billionaire had stopped investing actively in his homeland for close to two decades.
More: http://biz.thestar.com.my/news/story...7&sec=business
PETALING JAYA: The price that tycoon Robert Kuok is paying for a piece of 5.06ha freehold land in Puteri Harbour, Johor, has become the talk of the town and even across the causeway, where the Singaporean media is hailing it as the “new price benchmark” in Nusajaya.
The views on the transaction are varied, though. While Singapore's Business Times wrote that it was a record price for the Nusajaya land, substantiating it with the toppish RM334 per sq ft (psf) price paid by Kuok, there are others who are claiming that the billionaire is getting the land on the cheap.
Robert Kuok Robert Kuok
To recap, Southern Marina Development Sdn Bhd (which is 70% owned by Kuok-related companies and the remaining by Khazanah Nasional Bhd) is paying RM182mil (or RM334 psf) to UEM Land Holdings Bhd for a 5.06ha parcel of land in Puteri Harbour.
This price works out to a significant 58% premium over what a consortium of corporate tycoons Tan Sri Surin Upatkoon, Tan Sri Lee Oi Hian, Tan Sri Wan Azmi Wan Hamzah, and Wee Ee Chao had paid for a 17.81ha plot also in Puteri Harbour. The vehicle the tycoons used, Liberty Bridge Sdn Bhd, paid UEM Land RM401mil, which works out to only RM211 psf.
Real estate investment consultant Gavin Tee Swee Heng told StarBiz that the land was considered a good purchase due to the vast potential in that prime area, but noted that it was definitely “not cheap.”
An analyst pointed out that the land had been appraised by property valuer Messrs Assetz Sdn Bhd at RM330 psf, so Kuok is paying 1.21% higher than the valued price, and it was justified by the fact that it was one of the rare parcels of land that was facing the marina.
However, to be noted is the fact that another recent transaction in Iskandar Malaysia was done at a higher price than what Kuok is paying. Last December, mainland Chinese firm Country Garden Holdings Co Ltd paid a total of RM900mil, or RM376 psf, for a 22.26ha land in Danga Bay.
The analyst explained that there was generally a price difference between land in Danga Bay and Puteri Harbour.
“Danga Bay sits in flagship zone A or Johor Baru, while Puteri Harbour is situated in flagship zone B under Nusajaya. Furthermore, Danga Bay is reclaimed land, and, hence, carries higher infrastructure cost,” said the analyst.
Tee is bullish on the development around Puteri Harbour.
“Puteri Harbour will be the number one play (in the region) in terms of class,” he said, adding that its value should be the highest in the vicinity due to the marina lifestyle conceptualised and target market which consisted of the international business and corporate population.
Meanwhile, concerns arose in the social media arena as some commentators claimed the land was cheap based on the projected development value.
Recall that the proposed development by Southern Marina would comprise a mix of residential and commercial development with a gross floor area of more than two million sq ft, at an estimated gross development value exceeding RM1bil.
Said Tee: “The land is definitely not considered cheap. There are many unforeseen costs that the developer might have to bear, as it takes time to develop the area.
“There is also a fair bit of holding cost that would incur over the period of time.”
Another consideration of the valuation of the land would be the plot ratio approved by the authorities, he added.
Besides that, he reckoned that there would definitely be some form of risk that developers had to take, as the development in Nusajaya was still considered at its initial stage and it would entail extra costs for them to hold until the area matured.
The views on the transaction are varied, though. While Singapore's Business Times wrote that it was a record price for the Nusajaya land, substantiating it with the toppish RM334 per sq ft (psf) price paid by Kuok, there are others who are claiming that the billionaire is getting the land on the cheap.
Robert Kuok Robert Kuok
To recap, Southern Marina Development Sdn Bhd (which is 70% owned by Kuok-related companies and the remaining by Khazanah Nasional Bhd) is paying RM182mil (or RM334 psf) to UEM Land Holdings Bhd for a 5.06ha parcel of land in Puteri Harbour.
This price works out to a significant 58% premium over what a consortium of corporate tycoons Tan Sri Surin Upatkoon, Tan Sri Lee Oi Hian, Tan Sri Wan Azmi Wan Hamzah, and Wee Ee Chao had paid for a 17.81ha plot also in Puteri Harbour. The vehicle the tycoons used, Liberty Bridge Sdn Bhd, paid UEM Land RM401mil, which works out to only RM211 psf.
Real estate investment consultant Gavin Tee Swee Heng told StarBiz that the land was considered a good purchase due to the vast potential in that prime area, but noted that it was definitely “not cheap.”
An analyst pointed out that the land had been appraised by property valuer Messrs Assetz Sdn Bhd at RM330 psf, so Kuok is paying 1.21% higher than the valued price, and it was justified by the fact that it was one of the rare parcels of land that was facing the marina.
However, to be noted is the fact that another recent transaction in Iskandar Malaysia was done at a higher price than what Kuok is paying. Last December, mainland Chinese firm Country Garden Holdings Co Ltd paid a total of RM900mil, or RM376 psf, for a 22.26ha land in Danga Bay.
The analyst explained that there was generally a price difference between land in Danga Bay and Puteri Harbour.
“Danga Bay sits in flagship zone A or Johor Baru, while Puteri Harbour is situated in flagship zone B under Nusajaya. Furthermore, Danga Bay is reclaimed land, and, hence, carries higher infrastructure cost,” said the analyst.
Tee is bullish on the development around Puteri Harbour.
“Puteri Harbour will be the number one play (in the region) in terms of class,” he said, adding that its value should be the highest in the vicinity due to the marina lifestyle conceptualised and target market which consisted of the international business and corporate population.
Meanwhile, concerns arose in the social media arena as some commentators claimed the land was cheap based on the projected development value.
Recall that the proposed development by Southern Marina would comprise a mix of residential and commercial development with a gross floor area of more than two million sq ft, at an estimated gross development value exceeding RM1bil.
Said Tee: “The land is definitely not considered cheap. There are many unforeseen costs that the developer might have to bear, as it takes time to develop the area.
“There is also a fair bit of holding cost that would incur over the period of time.”
Another consideration of the valuation of the land would be the plot ratio approved by the authorities, he added.
Besides that, he reckoned that there would definitely be some form of risk that developers had to take, as the development in Nusajaya was still considered at its initial stage and it would entail extra costs for them to hold until the area matured.
Gavin Tee already highlighted Puteri Harbour in the beginning if the year during his seminar
PETALING JAYA: The price that tycoon Robert Kuok is paying for a piece of 5.06ha freehold land in Puteri Harbour, Johor, has become the talk of the town and even across the causeway, where the Singaporean media is hailing it as the “new price benchmark” in Nusajaya.
The views on the transaction are varied, though. While Singapore's Business Times wrote that it was a record price for the Nusajaya land, substantiating it with the toppish RM334 per sq ft (psf) price paid by Kuok, there are others who are claiming that the billionaire is getting the land on the cheap.
Robert Kuok Robert Kuok
To recap, Southern Marina Development Sdn Bhd (which is 70% owned by Kuok-related companies and the remaining by Khazanah Nasional Bhd) is paying RM182mil (or RM334 psf) to UEM Land Holdings Bhd for a 5.06ha parcel of land in Puteri Harbour.
This price works out to a significant 58% premium over what a consortium of corporate tycoons Tan Sri Surin Upatkoon, Tan Sri Lee Oi Hian, Tan Sri Wan Azmi Wan Hamzah, and Wee Ee Chao had paid for a 17.81ha plot also in Puteri Harbour. The vehicle the tycoons used, Liberty Bridge Sdn Bhd, paid UEM Land RM401mil, which works out to only RM211 psf.
Real estate investment consultant Gavin Tee Swee Heng told StarBiz that the land was considered a good purchase due to the vast potential in that prime area, but noted that it was definitely “not cheap.”
An analyst pointed out that the land had been appraised by property valuer Messrs Assetz Sdn Bhd at RM330 psf, so Kuok is paying 1.21% higher than the valued price, and it was justified by the fact that it was one of the rare parcels of land that was facing the marina.
However, to be noted is the fact that another recent transaction in Iskandar Malaysia was done at a higher price than what Kuok is paying. Last December, mainland Chinese firm Country Garden Holdings Co Ltd paid a total of RM900mil, or RM376 psf, for a 22.26ha land in Danga Bay.
The analyst explained that there was generally a price difference between land in Danga Bay and Puteri Harbour.
“Danga Bay sits in flagship zone A or Johor Baru, while Puteri Harbour is situated in flagship zone B under Nusajaya. Furthermore, Danga Bay is reclaimed land, and, hence, carries higher infrastructure cost,” said the analyst.
Tee is bullish on the development around Puteri Harbour.
“Puteri Harbour will be the number one play (in the region) in terms of class,” he said, adding that its value should be the highest in the vicinity due to the marina lifestyle conceptualised and target market which consisted of the international business and corporate population.
Meanwhile, concerns arose in the social media arena as some commentators claimed the land was cheap based on the projected development value.
Recall that the proposed development by Southern Marina would comprise a mix of residential and commercial development with a gross floor area of more than two million sq ft, at an estimated gross development value exceeding RM1bil.
Said Tee: “The land is definitely not considered cheap. There are many unforeseen costs that the developer might have to bear, as it takes time to develop the area.
“There is also a fair bit of holding cost that would incur over the period of time.”
Another consideration of the valuation of the land would be the plot ratio approved by the authorities, he added.
Besides that, he reckoned that there would definitely be some form of risk that developers had to take, as the development in Nusajaya was still considered at its initial stage and it would entail extra costs for them to hold until the area matured.
Taken Iskandar web portal:
The Port of Puteri Harbour Ferry Terminal will commence its Ferry Services on Wednesday, 8th of May, 2013.
Ferry services to / from HARBOUR BAY(BATAM), TANJUNG BALAI (KARIMUN), INDONESIA & HARBOUR FRONT(SINGAPORE).
Below are the daily ferry schedules for your information.
1. From PUTERI HARBOUR TO HARBOUR BAY BATAM
0800hrs
1100hrs
1400hrs
1800hrs
2. From HARBOUR BAY BATAM TO PUTERI HARBOUR
0700hrs
1030hrs
1330hrs
1630hrs
*** Indonesia time
3. From PUTERI HARBOUR TO TG.BALAI, KARIMUN
1100hrs
1800hrs
4. From TG.BALAI, KARIMUN TO PUTERI HARBOUR
0800hrs
1500hrs
*** Indonesia time
As for Harbour Front, Singapore the ferry service is expected to commence by early of June, 2013.
Any inquires about the ferry services you may contact the ticketing counter at +607-5600542, +607-5600541, +607-5600543.
For more details on Puteri Harbour International Ferry Terminal, please visit:
http://www.ridaa.com.my
http://www.ridaa.com.my/Ridaa Brochure PH.pdf
The Port of Puteri Harbour Ferry Terminal will commence its Ferry Services on Wednesday, 8th of May, 2013.
Ferry services to / from HARBOUR BAY(BATAM), TANJUNG BALAI (KARIMUN), INDONESIA & HARBOUR FRONT(SINGAPORE).
Below are the daily ferry schedules for your information.
1. From PUTERI HARBOUR TO HARBOUR BAY BATAM
0800hrs
1100hrs
1400hrs
1800hrs
2. From HARBOUR BAY BATAM TO PUTERI HARBOUR
0700hrs
1030hrs
1330hrs
1630hrs
*** Indonesia time
3. From PUTERI HARBOUR TO TG.BALAI, KARIMUN
1100hrs
1800hrs
4. From TG.BALAI, KARIMUN TO PUTERI HARBOUR
0800hrs
1500hrs
*** Indonesia time
As for Harbour Front, Singapore the ferry service is expected to commence by early of June, 2013.
Any inquires about the ferry services you may contact the ticketing counter at +607-5600542, +607-5600541, +607-5600543.
For more details on Puteri Harbour International Ferry Terminal, please visit:
http://www.ridaa.com.my
http://www.ridaa.com.my/Ridaa Brochure PH.pdf
This afternoon ate at olive Indian restaurant at basement of traders hotel puteri harbour. Not bad. Walked round 1st floor saw two new shops opened. One selling crepe ice cream at a corner near sommerset. The other one a pharmacy named 'Caring! nearer to hello kitty. The pharmacist thinks some more shops should open by the time traders hotel commences on 1st June he presumes. I spoke to a hotel staff who gave me a name card who also said they'll open that day. Lets see.
Anyone at Ho Chin Soon's seminar today?
U mean at Mapex? I was there yesterday...
Any projects caught yr eye? For me, Penang looked promising.
U mean at Mapex? I was there yesterday...
Any projects caught yr eye? For me, Penang looked promising.
haha no, he happen to be in Singapore today at "the peak"'s launch in Zone A
Caught an eye with those Matinique Villas of E&O at Penang but all sold out.. :(
http://www.atimes.com/atimes/Southeast_Asia/HE25Ae02.html
Was just looking back at an article 6-7 years back.
From the factors n issues analyzed inside, it seems that from today's climate and developments, its a totally different scenario and UEM seem to have more chips.
The chance would be even higher if UEM consortium could get the HSR job.
by the way, the piece of land is "International Destination Resort", IDR.
Just above sunway development and below the coastal highway.
Was just looking back at an article 6-7 years back.
From the factors n issues analyzed inside, it seems that from today's climate and developments, its a totally different scenario and UEM seem to have more chips.
The chance would be even higher if UEM consortium could get the HSR job.
by the way, the piece of land is "International Destination Resort", IDR.
Just above sunway development and below the coastal highway.
Lets hope Disney or six flags can come to IDR . It will surely be turbo boost for PH !
Whether the Americans theme parks come or not, would depend on the government of the day to be decided this Sunday.
http://www.atimes.com/atimes/Southeast_Asia/HE25Ae02.html
Was just looking back at an article 6-7 years back.
From the factors n issues analyzed inside, it seems that from today's climate and developments, its a totally different scenario and UEM seem to have more chips.
The chance would be even higher if UEM consortium could get the HSR job.
by the way, the piece of land is "International Destination Resort", IDR.
Just above sunway development and below the coastal highway.
Thanks for sharing this article. Reading through it, it seems like many of the points are still valid today.
In fact, with the HSR (to KL and plan to Bangkok in future) and the upgrade of Senai airport, especially with AirAsia being a dominant low-cost carrier in the region, the situation is more favorable for Oriental Land now than 6-7 years back.
Together with the Ferry Service from Puteri Harbour to Indonesia, and the success of Gentiing's Universal Studios and Legoland. The critical mass market tourists from SEA countries could be met. The 2 existing theme park could compliment Disneyland nicely.
It's not an unlikely situation now. Hope the Election results could be favorable enough to entice them to make Nusajaya Disneyland a reality.
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