Posts Tagged ‘danga bay’

  1. Country Garden stops free flights for Forest City ‘buyers’

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    April 25, 2017 by iskandarinsider

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    KUALA LUMPUR: Property developer Country Garden Holdings Co Ltd has stopped providing free flights to bring in potential buyers from mainland China to its sales gallery in Iskandar Malaysia, Johor, which previously formed part of its marketing campaign to lure investors to buy properties in itsCountry Garden Holdings Co Ltd development in the Strait of Johor.

    “Since March 13, 2017, our sales galleries in China have ceased all travel-related support services for mainland Chinese travelling to Forest City. This means mainland Chinese buyers who are interested in the Forest City project will have to find their own way to our sales gallery in Iskandar Malaysia,” Country Garden said in a statement yesterday.

    The Forest City development comprises four man-made islands sandwiched between Johor and Singapore, with a land area measuring 1,386ha, about three times the size of Sentosa Island.

    The mammoth project, costing US$100 billion (RM443 billion), was in the limelight recently after Beijing introduced tighter rules to curb capital flight, which was estimated by the Institute of International Finance to have reached a record US$725 billion last year.

    Last month, Country Garden closed its Forest City sales galleries in China as the government launched a crackdown on capital flight by banning its citizens from converting yuan into other currencies for overseas property purchases.

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  2. $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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  3. 10 key facts why Gerbang Nusajaya will be the game changer for the next phase of Iskandar Puteri

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    July 1, 2016 by iskandarinsider

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    With the iconic High Speed Rail’s location in Iskandar Puteri expected to be announced by both the Singaporean and Malaysian Prime Ministers in July this year, Gerbang Nusajaya is fast taking shape with a 25-year master plan that will complement Singapore’s very own Jurong Lake District.

    Google “Iskandar Malaysia” and you will find that out of ten stories, seven of them will most likely be adverse news reporting on the special economic zone.

    A combination of the ongoing 1MDB investigation in Singapore and the oversupply issue have resulted in a perfect storm brewing that had somewhat resulted in the rather lukewarm property market that Iskandar Malaysia is currently experiencing.

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  4. Chinese firm Greenland Group to invest RM3b in Danga Bay

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    March 3, 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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  5. Iskandar Waterfront Sells $615M to S’pore Firm For $3B Project

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    December 27, 2013 by Melvin

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    The master planner for Danga Bay said in a statement yesterday that it had signed the sale and purchase agreement with Hao Yuan Investment Pte Ltd for six parcels of land, which would be developed by Prstine Sun Properties Sdn Bhd, a 60:40 joint-venture (JV) between Hao Yuan and IWH.

    the price tag of RM 1.6bil works out to a land cost of 20 per cent of the RM8bil gross development value, within the range OF 15 per cent- 20 percent typically paid to a landowner in Malaysia.

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  6. Singapore’s Skyfront Holdings, Iskandar Waterfront in RM700m Danga Bay project

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    September 12, 2013 by iskandarinsider

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    KUALA LUMPUR: Singapore’s Skyfront Holdings Pte Ltd is teaming up with Iskandar Waterfront Holdings Sdn Bhd (IWH) to undertake a RM700mil residential project in Danga Bay in Johor Baru.

    The companies said on Wednesday the development on a 1.4ha (3.48-acre) freehold site would offer 840 condominium units spread over three high-rise blocks overlooking the Straits of Johor.

    The location is a prime waterfront site within Flagship “A” of Iskandar Malaysia and within a 5km radius of the Johor Bahru central business district and the Johor-Singapore Causeway.

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  7. Singaporeans snap up Country Garden Danga Bay units

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    August 22, 2013 by iskandarinsider

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    SINGAPORE: After an elaborate campaign to woo buyers featuring fun-fair rides, fireworks displays and free yacht trips at the showflat site, Country Garden Danga Bay, a condominium development in Johor Baru, has sold over 5,000 of the 7,000 units on offer, with 30 per cent of them snapped up by Singaporeans.

    The project by Chinese developer Country Garden is located in Iskandar Malaysia, some five minutes from the Malaysian immigration checkpoint.

    It features 9,000 units on the waterfront ranging from about 400 sq ft to 1,400 sq ft. There will also be a shopping mall, a man-made beach and six yacht berths.

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  8. Iskandar will continue wooing investments

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    August 15, 2013 by iskandarinsider

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    JOHOR BARU: Unfazed by the negative remarks from Singapore’s Minister Mentor Lee Kuan Yew recently, Iskandar Malaysia will continue to woo investments from real estate companies worldwide.

    According to Johor Real Estate and Housing Developers Association (Rehda) chairman Koh Moo Hing, Lee’s adverse comments on Iskandar Malaysia were inaccurate and did not reflect the real situation at the economic corridor in southern Johor.

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  9. Country Garden eyes Malaysia market

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    August 12, 2013 by iskandarinsider

    MALAYSIA is now high on the list of China’s 7th largest property developer to extend its international footprint, with the transformation of a piece of Iskandar Malaysia to become a waterfront development fronting Singapore.
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    In a recent trip to Guangdong organised by Country Garden Holdings Co Ltd, the contingent of media members from both Malaysia and Singapore were brought on a whirlwind trip across the province, with the priority to have a first hand look at the company’s projects in China.

    As “guang” as its name aptly described, Guangdong is certainly vast, and Country Garden’s projects are mostly scattered across the province, reachable within a couple of hours drive. However, it was all worth it to put things into perspective and gave a sneak peek of what was in store for the Country Garden Danga Bay project. Could this be just a promise by foreign parties planning to make a quick buck out of a hot segment of the local property market?

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  10. The Palazzo Hotel & Serviced Suites

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    July 2, 2013 by iskandarinsider2

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    New 27-storey hotel to change Danga Bay skyline

    The Danga Bay skyline is set to change with a new four-star, 27-storey hotel taking shape at the start of the new Coastal Highway here.

    The Palazzo Hotel & Serviced Suites, the RM105-million hotel is conveniently located on a 1.05ha parcel of prime land in Danga Bay within the central business district.

    Johor Menteri Besar Datuk Abdul Ghani Othman performed the ground-breaking ceremony for the hotel at the project site here today by pulling the lever on an earthworks excavator.

    He said: “This is the start of bigger and better things to come in the hospitality and tourism sector in Danga Bay. Over the next two years we can expect a flurry of new and exciting investments in this sector’’.

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