‘Singapore’ Category

  1. Iskandar Malaysia: on the edge of glory or a billion-dollar failure?

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    January 20, 2017 by iskandarinsider

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    The Iskandar Malaysia development project was supposed to create an economic powerhouse that bridged the gap between Malaysia and Singapore. Ten years later, businesses have made it their new home but it is leaving investors disappointed.

    By Victoria Wah

    Iskandar Malaysia was once called, “one of the most ambitious development projects in the world.” Begun in 2006 it aimed to turn South Johor into a flourishing economic zone with three million people, 1.46 million jobs, and a gross domestic product of US$93.3 billion by 2025.

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  2. Story of the year: Malaysia bets big on China

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    December 27, 2016 by iskandarinsider

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    MALAYSIA-China relations ­reached a new high this year following Prime Minister Datuk Seri Najib Razak’s official visit to Beijing, where he signed 14 bilateral agreements worth a combined RM144 billion.

    While the improved ties will help bring much-needed fresh foreign direct investments (FDIs) into the Malaysian economy, the size of those deals has also sparked debate about China’s growing influence in the country.

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  3. $100 Billion Chinese-Made City Near Singapore ‘Scares the Hell Out of Everybody’

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    November 22, 2016 by iskandarinsider

    Project model on display at the Country Garden Forest City Sales Gallery in Johor Malaysia, on Tuesday, Nov. 02, 2016. Photographer: Ore Huiying/Bloomberg

    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?”

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  4. UEM in talks to sell Iskandar sites to investors

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    November 3, 2016 by iskandarinsider

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    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.

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  5. Developer’s 1-Bukit Senyum project set to be the tallest in Southeast Asia

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    September 26, 2016 by iskandarinsider

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    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.

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  6. Johor Rehda targets more markets besides Singapore

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    September 19, 2016 by iskandarinsider

    bizd_pg3_sept13_ky_1JOHOR BAHRU: The Johor chapter of the Real Estate and Housing Developers’ Association Malaysia (Rehda) has plans to reach out to a wider market other than Singapore in promoting the state’s property projects, especially those in Iskandar Malaysia.

    Newly-elected Johor Rehda chairman Datuk Steve Chong Yoon On (pic) said the chapter would organise the first Malaysia Property Exposition (Mapex) International next year should everything go as planned.

    He said the time had come for Johor Rehda members to get their act together and start promoting Johor and Iskandar Malaysia to international property buyers. Johor Rehda has 128 developers, with most of their projects located in Iskandar Malaysia.

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  7. 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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  8. 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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  9. 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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  10. 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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