December 12, 2013 by iskandarinsider
LIKE most Malaysians, I must admit that I tend to take things with a grain of salt and need a lot of convincing before I can commit to something.
When I first heard about Iskandar Malaysia back in 2006, there was a fair bit of scepticism. Many of my friends also wondered: “Where and what is Iskandar Malaysia?”
For the next few years, many Johoreans, especially Johor Baru residents, were unsure about what Iskandar Malaysia was, let alone what to make of the ambitious master plan.
Many did not understand that southern Johor would be transformed permanently into a future regional growth region, rivaling the many international cities around the world.
December 9, 2013 by iskandarinsider
JOHOR BARU: In just seven months, 50% of the Astaka @ 1 Bukit Senyum, the tallest high-end residential tower development project in the region, has been snapped up by buyers.
The project, which has a total of 438 units, commenced in early July this year and is expected to be ready by 2017.
Its developer Astaka Padu Sdn Bhd is selling each unit between RM2mil and RM8.45mil.
Astaka Padu chief executive officer Datuk Zamani Kassim said another 20% of the units have been booked while waiting for the sales and purchase agreements to be signed.
“The Astaka, which means ‘royal pavilion’ in English, is already on its way to becoming a new landmark here.
December 5, 2013 by iskandarinsider
KUALA LUMPUR: Malaysia has granted a substantial tax break to a zone in a showpiece investment project near Singapore, a move likely to provide crucial support to a $800 million initial public offering of the area’s developer next year.
The Medini area in the southern state of Johor is the only section of the $30 billion Iskandar Development Region to get an exemption from a 30 percent property gains tax announced in October to cool soaring property prices, government officials said.
Category IRDA, Iskandar Property, iskandar waterfront, Johor Bahru, Khazanah, Legoland, Medini | Tags: eastern & oriental, goldman sachs, ifr, irda, iskandar waterfront, Khazanah, mah sing, maybank, medini, medini iskandar, merrill lynch, mitsui & co, sunway, thomson reuters, united world infrastructure, wct holdings
December 4, 2013 by iskandarinsider
Developers of the latest project in Medini Iskandar, Paradiso Nuova, say they are confident that the Medini properties will be exempted from the new cooling measures.
SINGAPORE: Singaporeans seemed undeterred by the recent property tax rules announced by the Malaysian government.
More than half of the 192 indicative bookings for the latest project in Medini Iskandar — Paradiso Nuova — came from Singaporeans.
Its developers say they are confident that the Medini properties will be exempted from the new cooling measures but analysts note that it might be best to wait for official confirmation to avoid disappointment.
Like other developments in Medini Iskandar, the new Paradiso Nuova is likely to remain exempt from any rules regarding the capital gains tax and the minimum investment value of properties.
November 4, 2013 by iskandarinsider
Builders step up unveiling of new launches amid rising demand, stiff competition
Now considered one of Malaysia’s hottest real estate spots, Iskandar Malaysia has been pulling in developers looking to cash in on the demand for properties there.
Local developers may have had a headstart, but they are now facing stiff competition from larger builders from Klang Valley and beyond Malaysia.
The rivalry has led to a mushrooming of options for buyers. In the next two to three years, thousands of units are scheduled to be completed, given the number of projects launched in the last year or so amid bullish sentiment and robust sales. For example, Afiniti Medini, a mixed-use residential-commercial development, sold 88 units in just 51/2 hours.
Category 1Medini, Danga Bay, Iskandar Property, iskandar waterfront, Johor Bahru, Mah Sing, Medini, Meridin, Nusajaya, Puteri Harbour, Singapore, UEM Land | Tags: Avira, casa almyra, country garden, danga island, danga utama, imperia, iskandar waterfront, iwh, medini, meridin, NusaJaya, puteri harbour, senibong cove, sunway iskandar, teega, tropicana danga bay, uem sunrise
October 23, 2013 by iskandarinsider
KUALA LUMPUR: Construction of the RM6 billion integrated Mid-Valley Southkey Megamall in Iskandar, Johor, which began today, is expected to be completed late 2016.
The commencement of construction works ceremony for the megamall was launched by Southkey Megamall Sdn Bhd a 70:30 joint-venture between IGB Corp Bhd and Selia Pantai Sdn Bhd.
The project, which is also Johors single biggest integrated retail and commercial development, is sprawled over 14.57 hectares of land within the Southkey new township.
To be developed over 12 years, the focal point of the development will be a megamall offering a net lettable area of 2.5 million sq.ft. which will be undertaken in two phases.
“It took us 15 years to get Mid-Valley City in Kuala Lumpur to what it is today.
September 23, 2013 by iskandarinsider
SINGAPORE – Singaporeans are streets ahead of any other group of foreigners snapping up property developed by UEM Sunrise at Iskandar Malaysia.
They accounted for 74 per cent of purchases made at the various developments by non-Malaysians.
Most Singaporean buyers are people who go to Johor frequently for business and those wanting a weekend home, said UEM Sunrise chief executive Wan Abdullah Wan Ibrahim on Thursday.
“They buy more of the upmarket products, as foreigners can only buy units that are above RM500,000 (S$195,000), and they have been buying both landed homes and strata developments,” he added at a progress update of the Iskandar projects.
Category Danga Bay, EduCity, Iskandar Property, Johor Bahru, Khazanah, Legoland, Medini, Nusajaya, Puteri Harbour, Temasek Holdings, UEM Land | Tags: east ledang, imperia, Iskandar, Khazanah, mapletree, marina one, NusaJaya, puteri harbour, sunrise, teega, temasek, uem, wan abdullah
September 12, 2013 by iskandarinsider
KUALA LUMPUR: Singapore’s Skyfront Holdings Pte Ltd is teaming up with Iskandar Waterfront Holdings Sdn Bhd (IWH) to undertake a RM700mil residential project in Danga Bay in Johor Baru.
The companies said on Wednesday the development on a 1.4ha (3.48-acre) freehold site would offer 840 condominium units spread over three high-rise blocks overlooking the Straits of Johor.
The location is a prime waterfront site within Flagship “A” of Iskandar Malaysia and within a 5km radius of the Johor Bahru central business district and the Johor-Singapore Causeway.
August 29, 2013 by iskandarinsider
As affordability in Singapore plummets, residents are looking overseas for investment options. Iskandar Malaysia continues to be the most popular option for buyers, with 59 per cent of respondents surveyed by iProperty Group claiming they have considered investing in the region. Of these, 76 per cent view real estate in Iskandar Malaysia as investment property, the Asia Property Market Sentiment report revealed.
Overseas property investment is more in reach of Singaporeans than ever, thanks to their comparatively strong currency. In 2012, 38 per cent of respondents claimed they were considering overseas investment but this has increased this year to 40 per cent. There are, however, barriers for Singaporeans looking overseas. The Total Debt Servicing Ratio means it future it may be difficult for buyers looking to finance their property dreams through local banks.
Nevertheless, demand is strong for international real estate investment. Interestingly, there has been some shifts in the top five countries being targeted for this. While Iskandar Malaysia remains an attractive spot, Malaysia overall is declining. Australia, Thailand and the Philippines are on the up among Singaporean investors. However, Malaysian property still tops the leaderboard.
August 22, 2013 by iskandarinsider
SINGAPORE: After an elaborate campaign to woo buyers featuring fun-fair rides, fireworks displays and free yacht trips at the showflat site, Country Garden Danga Bay, a condominium development in Johor Baru, has sold over 5,000 of the 7,000 units on offer, with 30 per cent of them snapped up by Singaporeans.
The project by Chinese developer Country Garden is located in Iskandar Malaysia, some five minutes from the Malaysian immigration checkpoint.
It features 9,000 units on the waterfront ranging from about 400 sq ft to 1,400 sq ft. There will also be a shopping mall, a man-made beach and six yacht berths.