Posts Tagged ‘shenzhen’

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

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    January 20, 2017 by iskandarinsider

    Johor_Bahru_city_in_2015

    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. $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. 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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  4. BCB upbeat on Iskandar property outlook

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    April 22, 2016 by iskandarinsider

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    KLUANG: Batu Pahat-based property developer BCB Bhd is upbeat on the property market outlook in Iskandar Malaysia, Johor.

    Group managing director Datuk Tan Seng Leong pointed out that the large presence of domestic and foreign investors would be able to create demand for residential and commercial properties in the economic corridor.

    Iskandar Malaysia, which was launched a decade ago, continues to attract strong interest from investors worldwide.

    “This momentum will likely continue despite the current challenging economic situation,’’ Tan told StarBiz after the company’s AGM and EGM.

    At the EGM, shareholders approved the company’s proposed share split involving the subdivision of each existing ordinary share of RM1 in the company held by shareholders to be split into two shares of 50 sen each.

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  5. 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.
    countrygardendangabay0308
    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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