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 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.
September 26, 2016 by iskandarinsider
JOHOR BAHRU: Set to be the tallest residential building in Southeast Asia, Astaka Padu is making good progress in its target to construct two residential towers of a staggering 65 and 70 storeys.
Taking the likes of some of the iconic towers in the world, the residential buildings will be the first phase of the 1-Bukit Senyum mixed luxury development spanning 4.80ha of land in the city.
Astaka Padu chief executive officer Datuk Zamani Kasim said that the company has engaged with world-class consultants to design the luxurious development, the first of its kind in Johor.
Category Iskandar Property, Johor Bahru, Singapore | Tags: 1-Bukit Senyum, astaka padu, Bangkok, Brunei, Burg Khalifa, china, Datuk Zamani Kasim, Dubai, Immigration, Indonesia, Jalan Lingakaran, jalan tebrau, Japan, MBJB, Merrill LLP, Owings, Quarantine, Skidmore, Southeast Asia, Sultan Iskandar Customs, Taiwan, The Astaka
August 23, 2016 by iskandarinsider
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.
Category Iskandar Property, Johor Bahru, Singapore | Tags: Abdul Latiff, CBD, Datuk Abdul Latiff Bandi, GDV, iskandar malaysia, rapid transit system, Rumah Mampu Milik Johor, setia, Setia Business Park, Setia Eco Gardens, setia sky 88, Tan Sri Wan Zahid Mohd Noordin, Tebrau
August 15, 2016 by iskandarinsider
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.
Category Singapore | Tags: Ayer Keroh, batu pahat, china, Dr Qin Yu, Economic Geography, High Speed Rail, Iskandar, kluang, kuala lumpur, Malacca, malaysia, mm2h, Muar, National University of Singapore, NusaJaya, Peninsular Malaysia, Port Dickson, putrajaya, Seremban, Tampin
August 11, 2016 by iskandarinsider
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.
Category Johor Bahru, Singapore | Tags: Bayan Lepas Expressway, Bus Rapid Transport system, HSR, iskandar malaysia, Johor, Klang Valley, Knight Frank Malaysia, Kota Kinabalu, kuala lumpur, MoU, Pan-Borneo Highway, Penang, putrajaya, Sabah, Sarkunan Subramaniam, Sungai Buloh-Kajang
July 21, 2016 by iskandarinsider
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.
Category Singapore | Tags: Asian, australia, Dubai, Ernst & Young Tax Consultants Sdn Bhd, Farah Rosley, hong kong, Knight Frank, Liam Bailey, malaysia, Marnix Van Rij, Monaco, Mumbai, Real Property Gains Tax, Shanghai, Sydney, UK