On cloud nine

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August 23, 2016 by iskandarinsider

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LOCATED in the heart of Johor Bahru town, under the Iskandar Malaysia flagship (Zone A) earmarked as an upcoming CBD area, is Setia Sky 88. Noted as the most elevated residential development in Johor, the project under S P Setia consists of freehold luxury serviced apartments build to reflect “Life in the Clouds”.

ON TIME AND IN STYLE
Setia Sky 88 comes with a GDV of RM800 million. The project is said to incorporate one of the tallest residential and iconic buildings in Iskandar, consisting of 55 levels. There are three residential towers in its design – Altus, Sora and Nube. They offer 838 residential units that come with a wide range of exquisite and exclusive facilities and amenities.

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Avoid Malaysian property, especially Iskandar

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August 15, 2016 by iskandarinsider

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Singapore and Malaysia signed a Memorandum of Understanding on July 19 to build the High Speed Rail (HSR) linking Singapore and Kuala Lumpur, a long-awaited update on the project that also revealed a more reasonable completion target of 2026.

In my most recent book, Weathering a Property Downturn, I had hazarded a guess that the earliest date for the HSR to begin operations would be the year 2025. Inter-city and international railway projects are never simple and deadlines get postponed all the time. Acquiring land across four Malaysian states, resettling affected families and businesses and, most importantly, the raising of funds for the entire project, will require a few more years, especially if local issues and politics disrupt the timeline.

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Tough times for real estate sector

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August 11, 2016 by iskandarinsider

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KUALA LUMPUR: Certain real estate segments, including high-end condominiums, in key areas in Malaysia may not be in the pink of health now and in the near future, according to Knight Frank Malaysia. The global property consultant, however, said there would be growth despite the cloudy outlook for all market sectors amid weakening in the domestic economy and global uncertainties.

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Mah Sing plans RM5bil Meridin East township in Pasir Gudang

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August 1, 2016 by iskandarinsider

Meridin EastJOHOR BAHRU: Pasir Gudang will soon see a facelift as developer Mah Sing Group brings its largest township development to Johor on a 531.3 ha land in the eastern zone of Iskandar Malaysia.

Meridin East, the group’s latest integrated mixed development with an estimated gross development value of RM5bil, is focused in Kong Kong, Pasir Gudang, which falls under Flagship Zone D of Iskandar.

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More theme parks planned for Iskandar Malaysia

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July 26, 2016 by iskandarinsider

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JOHOR BAHRU: Iskandar Malaysia is set to become a regional theme park hub with more theme parks expected to be set up in the country’s first economic corridor.

State Tourism, Trade and Consumerism committee chairman Datuk Tee Siew Kiong said the growth corridor would have eight theme parks within the next three to five years.

“Talks are going on between the authorities and theme park operators from other countries planning to set up their theme parks in Iskandar Malaysia,’’ he told StarBiz on Saturday.

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Know the transaction costs and taxes when buying property overseas

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July 21, 2016 by iskandarinsider

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PROPERTY transaction costs and taxation are becoming increasingly important considerations for investors. Global consultancy Knight Frank in its recently launched Global Tax Report developed jointly with Ernst & Young revealed that indicative property tax costs can range from as low as 3.5% or 3.6% of the property price in Monaco and Dubai, respectively, to over 30% in Sao Paulo.

To make comparisons of property taxes and costs in various countries, the analysts assumed that a non-resident investor has a sum of money (US$1 million or US$10 million) to invest in property overseas. The purchase, holding and disposal costs of owning a property over five years were then calculated.

The report analysed the costs that a foreign individual would have to bear when buying a US$1 million or US$10 million property as an investment, and renting it out over a five-year period.

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Korea’s Amorepacific to invest RM691m in Iskandar Puteri

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July 11, 2016 by iskandarinsider

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KUALA LUMPUR: South Korea’s cosmetic firm Amorepacific Corporation plans to invest about US$170mil or RM691mil in Malaysia by setting up an integrated centre for research and development and manufacturing in Iskandar Puteri, Johor.

UEM Sunrise Bhd said on Wednesday its unit UEM Land Bhd had signed a sale and purchase agreement with Amorepacific for the sale of the 25.37-acre land within Southern Industrial and Logistics Clusters (SiLC) in Iskandar Puteri.

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Plans to set up medical hub

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July 4, 2016 by iskandarinsider

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JOHOR BAHRU: The government hopes to stop the outflow of doctors from the country by creating ample job opportunities in Iskandar Malaysia via a proposed medical hub.

State Health and Environment committee chairman Datuk Ayob Rahmat said that according to reports, a large number of Malaysian doctors were now practicing in Singapore.

“But now we are looking at the possibility of creating a medical hub in Iskandar and looking at creating a niche in at least five to six fields.

“Among some of the niche areas include being a hub for cancer, cardiology, urology, women and child healthcare centre,” he said after launching an Islamic digital radio at Hospital Sultan Ismail here on Sunday.

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10 key facts why Gerbang Nusajaya will be the game changer for the next phase of Iskandar Puteri

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July 1, 2016 by iskandarinsider

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With the iconic High Speed Rail’s location in Iskandar Puteri expected to be announced by both the Singaporean and Malaysian Prime Ministers in July this year, Gerbang Nusajaya is fast taking shape with a 25-year master plan that will complement Singapore’s very own Jurong Lake District.

Google “Iskandar Malaysia” and you will find that out of ten stories, seven of them will most likely be adverse news reporting on the special economic zone.

A combination of the ongoing 1MDB investigation in Singapore and the oversupply issue have resulted in a perfect storm brewing that had somewhat resulted in the rather lukewarm property market that Iskandar Malaysia is currently experiencing.

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Mitsui in big on Malaysia project to build high-tech metropolis

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June 27, 2016 by iskandarinsider

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KUALA LUMPUR – Japanese trading giant Mitsui & Co. is capitalizing on its business partnerships in Malaysia to expand its role in the country’s government-backed grand project to build a new multi-functional city.

Iskandar Malaysia is a gargantuan urban development project to build a thriving, high-tech metropolis that can attract money and people from all over the world on a tract of land three times larger than neighboring Singapore.

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