November 22, 2016 by iskandarinsider
The landscaped lawns and flowering shrubs of Country Garden Holdings Co.’s huge property showroom in southern Malaysia end abruptly at a small wire fence. Beyond, a desert of dirt stretches into the distance, filled with cranes and piling towers that the Chinese developer is using to build a $100 billion city in the sea.
While Chinese home buyers have sent prices soaring from Vancouver to Sydney, in this corner of Southeast Asia it’s China’s developers that are swamping the market, pushing prices lower with a glut of hundreds of thousands of new homes. They’re betting that the city of Johor Bahru, bordering Singapore, will eventually become the next Shenzhen.
“These Chinese players build by the thousands at one go, and they scare the hell out of everybody,” said Siva Shanker, head of investments at Axis-REIT Managers Bhd. and a former president of the Malaysian Institute of Estate Agents. “God only knows who is going to buy all these units, and when it’s completed, the bigger question is, who is going to stay in them?”
Category China, Iskandar Property, Johor Bahru, Singapore | Tags: AirAsia Bhd, Alan Cheong, Alice Tan, Asian mainland, Axis-REIT Managers Bhd, CH Williams Talhar & Wong, Chief Executive Officer Izzaddin Idris, country garden, danga bay, Estate Agents, Forest City, Greenland Group, Guangzhou R&F Properties Co, hong kong, Jonathan Lo, Khazanah Nasional Bhd, New York’s, Savills Singapore, shenzhen, Singapore Airlines, Siva Shanker, Southeast Asia, SP Setia Bhd, sunway bhd, Sydney, Tebrau, UEM Group Bhd, uem sunrise bhd, Vancouver
November 10, 2016 by iskandarinsider
IGB Corp Bhd Maintain outperform with a target price (TP) of RM4.80: A meeting with management revealed that with the recent noncore asset disposal, IGB Corp Bhd has raised about RM1 billion in dry powder for its new assets, especially Mid Valley Southkey Megamall and its proposed mixed developments in London and Bangkok.
Ongoing projects, namely Southpoint Tower in Mid Valley City and Mid Valley Southkey Megamall, are on track to be completed by the first half of 2017 (1H17) and second half of 2018 (2H18) respectively.
November 3, 2016 by iskandarinsider
SINGAPORE (BLOOMBERG) – UEM Sunrise Bhd, the biggest landowner in Malaysia’s southern Iskandar region, is in talks to sell sites to overseas manufacturers to boost economic activity in the area.
Companies from South Korea, Japan and Taiwan are in discussions about investment in the Iskandar zone, said Mr Izzaddin Idris, chief executive officer at the developer’s parent, UEM Group Bhd.