Puteri Harbour Community

[Tekkun]

Long terms of 5-10 years will be ok for sure. Lets not forget Keppel Bay also has thousands of units.

Let me be frank here. Out of the 3000+ units in Puteri Harbour, just how many boost of stunning sea or Marina bay views 20th level and up? About 300-500 at most. Southern Marina and Puteri Cove has the answer as they still hve left overs ( I went there yesterday )

I was also told that very few Imperia superior view owners want to sell their units as they want to use for themselves. I was asking the agents for fire sales as the Singapore press kept harping on oversupply in Iskandar

Sidetrack a bit...

"Investors, especially those in the manufacturing industry, are also actively seeking out space in Iskandar. Johor remains Malaysia's top investment destination for manufacturers, attracting RM27 billion in investments between January and June this year compared to RM21 billion for the whole of 2014"
\

This year for 6 months already RM 27 billion?!?! Last year 12 whole months RM 21m?? [SIZE=4]Who says Iskandar is failing??? [/SIZE]

Did you ask to the sales agents RM800 psf possible?

Give another 2 years when Teega and Encorp handed over, PH will be much clearer.
Come and have dinner at PH and beers for live football at any of the pubs on weekends.
Those who bought are quietly optismistic.

 

[Dfiris]

Hospitality operators wont jus come becos u can grease or pay them.. they have their opportunity costs as well and other shortlisted locations under their review. They must see potential in the location to achieve certain base fees & incentive fees to justify them to oversee a team there

Pan Pacific Hotels Group partners Pacific Star and DB2 to debut Malaysia’s first Pan Pacific Serviced Suites in Iskandar’s Puteri Harbour

19 October 2015

SINGAPORE -- Singapore-based real estate developers Pacific Star and DB2, through their joint-venture company Pearl Discovery Development Sdn Bhd, have signed a management agreement with Pan Pacific Hotels Group for the hotel chain owner to operate 205 luxury serviced suites under the "Pan Pacific" brand at Puteri Harbour, the crown jewel of Nusajaya, a major flagship zone in Iskandar Malaysia.

Developed by Pearl Discovery, Pan Pacific Serviced Suites Puteri Harbour will offer studio, one- and two-bedroom apartments to cater to the needs of short- and extended-stay professionals and expatriates working in Iskandar. The 205 suites are scheduled to open in early 2018, when Pearl Discovery's Puteri Cove Residences is completed. The only luxury waterfront development in Iskandar with both private-marina and sea views, Puteri Cove Residences will comprise three towers of premium apartments, four blocks of SOHO/loft units and a two-level waterfront retail promenade. Pan Pacific Serviced Suites Puteri Harbour will occupy 16 floors within Tower 3.

Puteri Cove Residences will overlook a private marina with more than 300 berths designed for the international boating community. The facility will be managed by Singapore's award-winning Marina and lifestyle operator.

A premium waterfront lifestyle development Bernold O. Schroeder, CEO of Pan Pacific Hotels Group, said: "Pan Pacific collaborates strategically with well-reputed developers who share our vision of setting the highest standards
Page 2 of 4 Press Release for quality accommodation and services in thriving destinations around the world. Pan Pacific Serviced Suites Puteri Harbour is a premium property that will extend our geographical reach and strengthen our engagement with customers in Malaysia."

Glen Chan, President and CEO of Pacific Star Development, said: "Partners, investors and buyers are increasingly discerning and are looking for well-located prime properties by developers they trust to deliver quality. This partnership underscores the confidence in our latest development Puteri Cove Residences and Quayside, which faces a private marina and is the only luxury waterfront project with both private-marina and sea views in Iskandar." Puteri Harbour, Iskandar's thriving new centre, is a 10-minute drive from Singapore via Tuas Second Link, and is close to major attractions and buildings, including Ascendas Nusajaya Tech Park, Pinewood Studios, Gleneagles Medini Hospital, EduCity and Legoland. It is also within a 5-minute walk from the Puteri Harbour International Ferry Terminal, which is planning daily ferry services to Singapore's HarbourFront terminal.

Datuk Ismail Ibrahim, CEO of Iskandar Regional Development Authority (IRDA), said: "We are extremely pleased to welcome 'Pan Pacific', a leading hospitality brand, to Iskandar, especially at a time when demand for premium accommodation in this part of Malaysia is going strong." Optimism in demand for premium accommodation in Puteri Harbour, Nusajaya The collaboration between Pearl Discovery and Pan Pacific comes as more companies are setting up shop in Iskandar. IRDA disclosed in September that at least three theme park operators – from Japan, North America, Europe and Australia – are expected to open attractions in Iskandar. The theme park projects will be part of the RM30 billion of committed investments IRDA has targeted for 2015.

Investors, especially those in the manufacturing industry, are also actively seeking out space in Iskandar. Johor remains Malaysia's top investment destination for manufacturers, attracting RM27 billion in investments between January and June this year compared to RM21 billion for the whole of 2014. Attracted by lower business costs in Johor, many industrial property users are multinationals from Europe and companies from Singapore.

Ascendas Nusajaya Techpark in Gerbang Nusajaya also recently announced a joint venture with Mitsui & Co, one of Japan's leading conglomerates, to bring in quality Japanese industrial tenants as part of its phase 2 developments.

In the longer term, several major projects will continue to underpin demand for real estate in Nusajaya. Nusajaya, where the Pan Pacific Serviced Suites Puteri Harbour is located, will be easily connected to the rest of the country and Singapore when the Singapore-Kuala Lumpur high-speed rail link is established as it is one of seven stops in Malaysia identified for the rail
Page 3 of 4 Press Release route. Existing attractions in Nusajaya include Puteri Harbour Marina, Legoland, Hello Kitty Town and the Mall of Medini.

Pan Pacific Serviced Suites Puteri Harbour marks the latest collaboration between Pan Pacific and Pacific Star following the successful opening of Pan Pacific Serviced Suites Bangkok in 2010. Some 80% of the Bangkok property, developed by Pacific Star and operated by Pan Pacific, was pre-leased just six months after its opening.

For more details on Puteri Cove Residences & Quayside, visit www.putericoveresidences.com.

About Pacific Star Group
The Pacific Star Group is a real estate investment house specialising in investment management, fund management, development, REIT management, asset management and private equity. Headquartered in Singapore, the Group is one of Asia’s most successful real estate investment houses, serving a premier global investor base spread across Asia, Europe and the Middle East. Since its inception, Pacific Star Group has transacted multi-billion dollar deals in prime office, retail and residential properties in key cities spread across Asia. Notable investments include Shui On Land in China which owns the renowned Xintiandi in Shanghai; the iconic Pavilion in Kuala Lumpur; Wisma Atria, Ngee Ann City and Capital Square in Singapore.

http://www.hospitalitynet.org/news/4072223.html

 

[xebay11]

Hospitality operators wont jus come becos u can grease or pay them.. they have their opportunity costs as well and other shortlisted locations under their review. They must see potential in the location to achieve certain base fees & incentive fees to justify them to oversee a team there

You mean corruption has logic? That's how businesses make money bro.

 

[IskandarRocks]

Long terms of 5-10 years will be ok for sure. Lets not forget Keppel Bay also has thousands of units.

Let me be frank here. Out of the 3000+ units in Puteri Harbour, just how many boost of stunning sea or Marina bay views 20th level and up? About 300-500 at most.

You are spot on. 3500 odd units in the next 4 years is not a lot. One large development in Singapore is half as many, like D'Leedon approx 1750 units.

However, it will be important to have the critical mass to absorb the supply. We cannot just rely on Singapore commuters and retirees to fill up the supply. I really dont hear about any commercial developments, large corporation, catalytic projects in the pipe. There was a lot of traction during the days of former UEM chief Datuk Wan Abdullah Wan Ibrahim, however, the momentum has significantly faltered since his sudden demise in Feb 2014.

With the current state of affairs, PH will do very well with a 50% occupancy .....

 

[menghuii]

today's 21oct15 full page ad in straitstimes

 

[Dfiris]

I agree, we need the convention centre to be in quickly as well for MICE events.

You are spot on. 3500 odd units in the next 4 years is not a lot. One large development in Singapore is half as many, like D'Leedon approx 1750 units.

However, it will be important to have the critical mass to absorb the supply. We cannot just rely on Singapore commuters and retirees to fill up the supply. I really dont hear about any commercial developments, large corporation, catalytic projects in the pipe. There was a lot of traction during the days of former UEM chief Datuk Wan Abdullah Wan Ibrahim, however, the momentum has significantly faltered since his sudden demise in Feb 2014.

With the current state of affairs, PH will do very well with a 50% occupancy .....

 

[Investor888]

Actually last few weeks I have explored Nusajaya and been to Sunway Iskandar to PH etc.

Almost all the resale agents tell me enquiries for Rental is still going quite strong although not as robust as in the past. Sales enquires have faltered somewhat. What do you expect in a down market anyway?

One thing I was told by most agent is that the house hunters used to be Sporeans ( 70% ) and now the Sporean crowd has gone down to below 50%. In are the students from the colleges, working professionals in various industry and lets not kid ourself... the manufacturing industry in Nusajaya is booming like crazy and it is only just the beginning. I heard of new expats from Japan, Korean and Western countries parachuting into Nusajaya to start their business instead of Singapore as its way cheaper in every aspect and the space is there. Its FREEHOLD.

Coastal Highway used to be deserted. ... along with Jalan LEGOLAND and the main road of Medini. Its buzzing with cars on a normal lazy weekend and weekday. Can see the traffic is building up slowly.

You are spot on. 3500 odd units in the next 4 years is not a lot. One large development in Singapore is half as many, like D'Leedon approx 1750 units.

However, it will be important to have the critical mass to absorb the supply. We cannot just rely on Singapore commuters and retirees to fill up the supply. I really dont hear about any commercial developments, large corporation, catalytic projects in the pipe. There was a lot of traction during the days of former UEM chief Datuk Wan Abdullah Wan Ibrahim, however, the momentum has significantly faltered since his sudden demise in Feb 2014.

With the current state of affairs, PH will do very well with a 50% occupancy .....

 

[Investor888]

I am very impressed with the brand name Pan Pacific. It does bring class and top quality branding into Puteri Harbour. I guess somerset and Jens Hotel should be made to sit up.

today's 21oct15 full page ad in straitstimes

 

[Tekkun]

Actually last few weeks I have explored Nusajaya and been to Sunway Iskandar to PH etc.

Almost all the resale agents tell me enquiries for Rental is still going quite strong although not as robust as in the past. Sales enquires have faltered somewhat. What do you expect in a down market anyway?

One thing I was told by most agent is that the house hunters used to be Sporeans ( 70% ) and now the Sporean crowd has gone down to below 50%. In are the students from the colleges, working professionals in various industry and lets not kid ourself... the manufacturing industry in Nusajaya is booming like crazy and it is only just the beginning. I heard of new expats from Japan, Korean and Western countries parachuting into Nusajaya to start their business instead of Singapore as its way cheaper in every aspect and the space is there. Its FREEHOLD.

Coastal Highway used to be deserted. ... along with Jalan LEGOLAND and the main road of Medini. Its buzzing with cars on a normal lazy weekend and weekday. Can see the traffic is building up slowly.

Your fact finding is commendable. You made efforts to come into Nusajaya to check things out.
The next big thing is student accommodation and most likely they would be based around Medini area.
PH community would be mostly expats as they are after lifestyle living and of course pubs and restaurants. You cannot find pubs in Medini due to religious restrictions. Possibly some hotels would have exceptions.

When Sunway Iskandar come in, I am sure it will bring in Sunway University and shopping complex as well.

Give it another 5 years,

 

[Stimpy]

Your fact finding is commendable. You made efforts to come into Nusajaya to check things out.
The next big thing is student accommodation and most likely they would be based around Medini area.
PH community would be mostly expats as they are after lifestyle living and of course pubs and restaurants. You cannot find pubs in Medini due to religious restrictions. Possibly some hotels would have exceptions.

When Sunway Iskandar come in, I am sure it will bring in Sunway University and shopping complex as well.

Give it another 5 years,

Oh, I do hope so! I have a unit at Meridin - which I was beginning to despair about. Last 12 months have definitely picked up in PH on weekends, I used to have the place to myself when I visited, no longer! Manufacturing pick-up is very welcomed.

What do people think is a better investment in PH, larger units of 2,000 sq ft high floor, or medium (2 beds ie 1300 sq ft) on a high (20th+) floor? I'm guessing larger as these are the differentiated units.

 

[Investor888]

For those KeyBoard Warriors whom I presumed to be Singapore property agents who are putting down on Iskandar properties because it has been affecting their Singapore income, I do encourage them to come on board to join the Iskandar dreams.

The property agent who sold me my landed house just 6 years ago told me over the weekend that sales is slow compared to the time when we came in to snap up "cheap" Semis Ds.. He told me secretly his latest month commission is RM 35000 and he is the best salesman there even though his sales have sort of half over the years. To me, its being stable

I believe it because some landed houses are still in demand. And there are seriously buying interest still going on in new launches although its not so happening as in the past.

I check Nusajaya out sometimes 2am, sometimes 5am, sometimes 12pm and sometimes 3pm on weekends and weekdays to have a general and fair feel of what is going on.

And you know what, I am pleased with the development so far. I worry more about Singapore, my homeland. If global powerhouses such as Pinewood Studios, Microsoft and Huawei can bypass Singapore for Iskandar, surely Singapore govt need to observe why is this so. However, they dint and they paid the price.

There are just so many condo units being rented out to teachers and staffs and students from the various schools and industrial companies. And the number is growing every other day.

I must also reiterate that oversupply of condos in Iskandar will surely happen too but not in PH for sure. Many angmos who move into Pinewood and near PTPs to work as directors and senior management are looking for units there all the time

Your fact finding is commendable. You made efforts to come into Nusajaya to check things out.
The next big thing is student accommodation and most likely they would be based around Medini area.
PH community would be mostly expats as they are after lifestyle living and of course pubs and restaurants. You cannot find pubs in Medini due to religious restrictions. Possibly some hotels would have exceptions.

When Sunway Iskandar come in, I am sure it will bring in Sunway University and shopping complex as well.

Give it another 5 years,

 

[Investor888]

Actually, there is nothing wrong about Sunway Iskandar. In 5-10 years time we shall see crowds thronging out the bistro, makan places and Macdonals in Sunway Iskandar. This is surely one of the big things on the line.

But as a poor investor who has limited budget, I cant buy as its not freehold. Don't get me wrong. The place will be very very vibrant. And Sunway leasehold development throughout Malaysia has been epic success and the owners enjoyed great returns. Poor investors like me can only bet on freehold marina living houses

Your fact finding is commendable. You made efforts to come into Nusajaya to check things out.
The next big thing is student accommodation and most likely they would be based around Medini area.
PH community would be mostly expats as they are after lifestyle living and of course pubs and restaurants. You cannot find pubs in Medini due to religious restrictions. Possibly some hotels would have exceptions.

When Sunway Iskandar come in, I am sure it will bring in Sunway University and shopping complex as well.

Give it another 5 years,

 

[Tekkun]

For those KeyBoard Warriors whom I presumed to be Singapore property agents who are putting down on Iskandar properties because it has been affecting their Singapore income, I do encourage them to come on board to join the Iskandar dreams.

The property agent who sold me my landed house just 6 years ago told me over the weekend that sales is slow compared to the time when we came in to snap up "cheap" Semis Ds.. He told me secretly his latest month commission is RM 35000 and he is the best salesman there even though his sales have sort of half over the years. To me, its being stable

I believe it because some landed houses are still in demand. And there are seriously buying interest still going on in new launches although its not so happening as in the past.

I check Nusajaya out sometimes 2am, sometimes 5am, sometimes 12pm and sometimes 3pm on weekends and weekdays to have a general and fair feel of what is going on.

And you know what, I am pleased with the development so far. I worry more about Singapore, my homeland. If global powerhouses such as Pinewood Studios, Microsoft and Huawei can bypass Singapore for Iskandar, surely Singapore govt need to observe why is this so. However, they dint and they paid the price.

There are just so many condo units being rented out to teachers and staffs and students from the various schools and industrial companies. And the number is growing every other day.

I must also reiterate that oversupply of condos in Iskandar will surely happen too but not in PH for sure. Many angmos who move into Pinewood and near PTPs to work as directors and senior management are looking for units there all the time

Wah..dun play play...you are sure a serious investor. PH is definitely very different from rest of Iskandar.
Can you tell me at 2 am or 5am, any sign of police patrol cars or any sign of hooligans?

I look forward to the day where I can stay there for a few days once a while, get on the ferry and go to Batam on a day trip or charter a yacht. Come back in the evening, soak in the swimming pools. Encorp has 6 pools...lol before enjoying my dinner at Spices or beer at Brussels and see my favorite foot ball team in action. That's life.

 

[Jetstream]

PH folks, what is the current status on the PH ferry terminal/CIQ - are there scheduled/regular services operating and to which destinations, batam? What about to Harbour Front?

 

[Tekkun]

PH folks, what is the current status on the PH ferry terminal/CIQ - are there scheduled/regular services operating and to which destinations, batam? What about to Harbour Front?

http://iskandar.asia/events/24-mark...eri-harbour-international-ferry-terminal.html

Harbour Front still no news yet.

 

[menghuii]

http://iskandar.asia/events/24-mark...eri-harbour-international-ferry-terminal.html

Harbour Front still no news yet.

i dont know how accurate their claim is but if you look at the puteri cove ad, in small print they stated ph ferry to harhourfront early next year.

 

[cow138]

Take it with a pinch of salt..

Malaysian progress have their own timetable.. Cannot really trust prediction

 

[Stimpy]

1. Don't look at the LO. Look at the Loan agreement. Many other terms are in there.
2. If it is a fixed loan BLR-2.4% and no lock in period, then it is a bloody good offer. But I am skeptical. Normally it will have a lock in period ,more so with DIBS. I would be surprised if they do not ask you to take up mortgage insurance as well.
3. Any change of interest charged have to follow the loan agreement.

Umm... I'm being offered from the Malaysia arm of an international bank a RM loan BLR +0.65% with no lock in. Deposit down 40% currently. I see others seem to be getting BLR MINUS. Are they trying to rip me off?

On a positive side is return of weak RM. some mentioned being sad not to switch at 3.10 a while back, we're back at 3.09 today.

 

[Dfiris]

thats right, do see Fraser Place coming into Puteri harbour
in 2017...

http://www.frasershospitality.com/en

Take it with a pinch of salt..

Malaysian progress have their own timetable.. Cannot really trust prediction

 

[FHBH12]

Umm... I'm being offered from the Malaysia arm of an international bank a RM loan BLR +0.65% with no lock in. Deposit down 40% currently. I see others seem to be getting BLR MINUS. Are they trying to rip me off?

On a positive side is return of weak RM. some mentioned being sad not to switch at 3.10 a while back, we're back at 3.09 today.

BR+ and BLR- are different bank loan systems. No more BLR- since 1-2 years ago. Both should give similar effective rates, though BR+ could result in slightly higher rates due to interest rate revision. The BLR- are good old days rates.

https://www.imoney.my/articles/all-about-that-base-how-does-base-rate-work