Chinese firm Greenland Group to invest RM3b in Danga Bay

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March 14, 2014 by iskandarinsider

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GROWTH: Greenland Group to invest in an integrated real estate development

JOHOR BARU: ONE of China’s biggest state-owned companies, the Greenland Group is planning to invest RM3 billion in an integrated real estate development project in Danga Bay.

Its chairman Zhang Yuliang recently led a six-member delegation from its headquarters in Shanghai to finalise a major land deal with Iskandar Waterfront Holdings Sdn Bhd (IWH) for the landmark development.

Greenland, which was ranked 359 in the Fortune Global 500 company survey last year, is said to be keen to acquire around 60ha of land in the area.

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Cooling Measures Affecting Property Market In Iskandar

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January 23, 2014 by iskandarinsider

JOHOR BAHARU, Jan 22 (Bernama) — The property market in Johor Baharu and Iskandar Malaysia has been negatively affected by the cooling measures introduced by the authorities to address rising property prices, says the Real Estate and Housing Developers’ Association of Malaysia (Rehda).

Rehda Johor chairman Koh Moo Hing said potential property buyers in the two areas are now adopting a wait-and-see attitude.

“Feedback from our members (in Rehda Johor) shows that sales are now slowing compared to last year, and we also expect fewer property project launches this year,” he told Bernama here Wednesday.

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Emerging Trends in Real Estate® Asia Pacific 2014 Report

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December 13, 2013 by iskandarinsider

Emerging Trends in Real Estate® Asia Pacific is a trends and forecast publication now in its eighth edition, and is one of the most highly regarded and widely read forecast reports in the real estate industry. Emerging Trends in Real Estate® Asia Pacific 2014, undertaken jointly by PwC and the Urban Land Institute, provides an outlook on real estate investment and development trends, real estate finance and capital markets, property sectors, metropolitan areas, and other real estate issues throughout the Asia Pacific region.

Emerging Trends in Real Estate® Asia Pacific 2014 reflects the views of 250 individuals who completed surveys or were interviewed as a part of the research process for this report. ULI and PwC researchers personally interviewed 120 individuals, and survey responses were received from 130 individuals.

Read more by downloading the Emerging Trends in Real Estate® Asia Pacific 2014.


Iskandar Malaysia comes of age

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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.

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Malaysia’s tallest condo to be ready in 2017

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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.

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Malaysia grants tax break for Medini, a showcase zone near Singapore

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December 5, 2013 by iskandarinsider

The entrance of the first Legoland Malaysia Theme Park in Asia located at Medini, Nusajaya, Gelang Patah in Johor. ABDUL RAHMAN EMBONG /THE STAR 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.

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Medini Iskandar property buyers seem unfazed by impending tax rules

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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.

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Homebuyers spoilt for choice in Iskandar

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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.

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Mid-Valley Southkey Megamall in Iskandar to be completed in 2016

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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.

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74 percent of foreign buyers of UEM’s Iskandar project are Singaporean

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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.

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