Greenland 21 for Iskandar Malaysia?

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December 16, 2014 by iskandarinsider

SHANGHAI-based property giant Greenland Holdings Group is expected to replicate the concept of its flagship integrated development project called Greenland 21 at Iskandar Malaysia.

The Fortune 500 company is finalising the acquisition of a 52ha plot in Permas Jaya, Johor Baru, for the project.

This waterfront project marks Greenland’s second venture in Iskandar Malaysia, after its low-density Jade Palace condominium development located at Danga Bay on the western side of the causeway.

Speaking here recently, group executive vice-chairman Xu Jing said Greenland was confident with its investment in Iskandar Malaysia, which is its first in Malaysia as well as Southeast Asia.

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House buyers, learn your rights

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November 27, 2014 by iskandarinsider

BY WAN SAIFUL WAN JAN: I RECENTLY moved into our new house in Sungai Ramal Dalam. I bought the property back in 2012 and we received the vacant possession in January this year.

The journey towards moving into this property has not been a smooth one and I thought I should share some of the lessons.

When I first visited the site in 2012, only the show house was available for viewing. All the other units were blocked off because they were still under construction.

So the purchase was under the “sell-then-build” scheme. The developer sells a property that is not yet built, and the buyer pays for something depicted by the show unit, but in reality you don’t really know what you will get. The developer advertised it as a gated and guarded community of just 26 houses, and the show unit was quite decent.

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Iskandar Malaysia to have at least 25 hospitals

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November 17, 2014 by iskandarinsider

NUSAJAYA: More foreigners, especially from Singapore, are expected to come to Iskandar Malaysia to seek medical treatment with the setting-up of at least 25 hospitals, including private specialists centres by 2016.

One of the health industry members involved – IHH Healthcare Bhd – has invested over RM400mil for the first phase of its Gleneagles Medini Hospital here.

Its CEO and managing director Dr Tan See Leng said that the 300-bed hospital, which is set to open its doors to the public by June next year, would have an initial capacity of 148 beds

“With the setting up of the hospital right at the heart of the Iskandar region here, we hope to attract foreigners, especially Singaporeans to seek medical treatment at our hospital.

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Is the Bubble Going to Burst in Iskandar or Is there a Plan B?

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November 11, 2014 by iskandarinsider

[MALAYSIA] For those who have been sticking their fingers in their ears, thinking the property bubble in Iskandar Malaysia is about to burst soon, a recent announcement may make them to take the fingers out. Or is it too soon to heave a sigh of relief?

Dato’ Sri Najib Tun Razak announced that Iskandar Malaysia has attracted new investments worth a hefty RM25 billion (US$7.5 billion) since January this year. The Prime Minister who is also the Finance Minister says in his facebook entry on Thursday (Nov 6): “In committed investments alone, the economic zone in Johor has secured RM156.51 billion (US$47 billion) since 2006, of which 51 per cent or RM79.17 billion (US$23.8 billion) has been realised to date.”

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Iskandar developers change strategy focusing on landed, industrial properties

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October 17, 2014 by iskandarinsider

PETALING JAYA: Malaysian developers are scaling back launches of high-rise integrated properties in Danga Bay and Nusajaya-Medini in Iskandar Malaysia due to the more than ample incoming supply by the end of 2015/2016.

They are instead focusing on landed and industrial properties, according to Maybank research report.

Analyst Wong Wei Sum said in the report that the oversupply might result in a decline in property values over the medium term of between two and five years.

She also raised concern about the “increasingly crowded development space in Iskandar” after the research house hosted a group of 19 Malaysian investors there in late September.

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Slowdown looming for Iskandar Malaysia

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October 17, 2014 by iskandarinsider

PETALING JAYA: The property prices in Iskandar Malaysia (IM) are expected to stay weak and flat over the medium term as there will be more incoming supply ahead, whereas the Klang Valley’s property market appears to be more sustainable, according to Maybank Kim Eng Research.

The oversupply of properties in IM is more apparent in the mixed-use and high-rise residential front, said Maybank Kim Eng Research analyst Wong Wei Sum in a report last Friday.

She has maintained a “neutral” view on the property sector, with a preference on the Klang Valley over Iskandar Malaysia, as strong population growth potential (more than 40% growth by 2020) in the Klang Valley offers more sustainable demand for properties, coupled with the immiment approval of the MRT Line 2.

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Iskandar launches hit by delays

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September 29, 2014 by iskandarinsider

Launches by Singapore property players in the Iskandar Malaysia development zone appear to have stalled amid a subdued market.

For instance, CapitaLand said on Tuesday it is “waiting for the relevant regulatory approval for (its) Danga Bay project’s masterplan”. CapitaLand has yet to launch the first phase of its $3.2 billion development there, a high-rise 900-unit condominium being undertaken with joint venture partners.

In its annual report, it said the project would be “launch ready” this year. A spokesman said the developer has not sought an extension, contrary to a news report on Tuesday. The Straits Times understands CapitaLand’s local partner, Iskandar Waterfront Holdings (IWH), on Tuesday called for a meeting with the Singapore firm to explore how best to expedite the approval. Temasek Holdings is a third partner in the joint venture.

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One more Chinese developer wants a slice of Iskandar

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August 18, 2014 by Melvin

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[SINGAPORE] Another Chinese property developer is looking at developing homes in Malaysia’s Iskandar, unfazed by recent negative publicity surrounding some Chinese projects there and a potential avalanche of residential supply in the special economic zone in Johor Bahru.

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Iskandar investment boom continues despite OVERSUPPLY risks

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July 31, 2014 by Melvin

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NEW investments in Iskandar Malaysia more than doubled in the second quarter compared with the first three months of the year as the zone’s boom continues to roar along.

The region recorded RM9.72 billion (S$3.8 billion) in new investment in the three months to June 30, bringing the year’s total so far to RM14.56 billion.

That half-year total is on track to equal or surpass last year’s investment figure of RM25.33 billion.

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Sunway Iskandar’s Citrine office suites sold out

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July 24, 2014 by Melvin

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PETALING JAYA: Sunway Iskandar has sold all its 167 Citrine office suites at the Lakeview precinct in Iskandar Malaysia.

“We are very encouraged with the strong response to our first launch as our buyers liked our approach in providing a holistic range of products to create a community within The Lakeview precinct to live, learn, work, shop and play,” Sunway Bhd joint managing director of property development division for Malaysia and Singapore, Sarena Cheah, said in a statement.

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