Posts Tagged ‘Selangor’

  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. Iskandar Puteri aims to be business services outsourcing hub

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    May 3, 2016 by iskandarinsider

    Zulfiqar i2M

    AS A greenfield development, Iskandar Puteri in Johor, formerly known as Nusajaya, has gone through two growth phases — infrastructure and property development. The question now is what industry should be promoted to turn it into an economically vibrant city?

    The answer lies in its master plan and geographical location.

    Iskandar Puteri has never been planned to attract the agriculture or manufacturing industries. Its proximity to Singapore and lower cost base makes it a prime location for the global business services (GBS) outsourcing industry.

    Realising that the region offers tremendous opportunities for companies to benefit from the Singapore market while having a Malaysian cost structure, Khazanah Nasional Bhd set up i2M Ventures Sdn Bhd to promote Iskandar Puteri as a GBS hub.

    “i2m Ventures started in August 2013, but it came out of what was called the business services unit in the investment division of Khazanah,” i2M Ventures’ managing director Zulfiqar Zainuddin tells The Edge in a recent interview in Medini.

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  3. Developers with exposure in Klang Valley, Penang better options

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    April 25, 2016 by iskandarinsider

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    KUALA LUMPUR: Maybank Investment Bank Research remains cautious on property exposure in Iskandar Malaysia and prefers developers with exposure in the Klang Valley and Penang.

    It said on Tuesday property transactions in Johor fell 33% on-quarter in 4Q14, underperforming the country (-7%) and other major cities/states such as KL (-12%), Selangor (+2%) and Penang (+8%).

    Johor property prices have weakened 1% on-quarter versus Malaysia’s -0.2%, KL’s -0.9%, Selangor’s -0.1% and Penang’s -0.3%.

    Maybank Research pointed out developers from China have been aggressively accumulating landbank in Iskandar Malaysia.

     Shanghai-based developer Greenland Holdings Group recently acquired 128 acres of freehold land in the south of Bandar Baru Permas Jaya while Country Garden has received the green light from Department of Environment to continue its massive reclamation of 3,425 acres of the Forest City project near the second link.

    “Malaysian developers have scaled back their launches/shifted their product mix to avoid direct competition with the Chinese developers.

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  4. Data centre planned for Sedenak

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    April 21, 2016 by iskandarinsider

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    JOHOR BAHRU: The Johor government plans to develop Sedenak, a small town just outside Johor Baru, into a thriving data centre.

    Property developers are predicting demand for houses and commercial space to benefit from the availability of high-paying technology employment in the area.

    “This will be a catalytic project that will definitely accelerate growth in the state, especially in south Johor,’’ Johor Real Estate and Housing Developers Association (Rehda) branch chairman Hoe Mee Ling told StarBiz.

    Mentri Besar Datuk Mohamed Khaled Nordin recently announced that about 20,000ha in Sedenak would be developed into a data centre similar to Cyberjaya in Selangor.

    The state government, he said, was currently holding talks with several foreign companies on setting up their respective data centres in Johor. The data centre in Sedenak, Khaled said, would be launched by mid-year.

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