Hi, I am new here. Anyone bought Paragon suites? Any info on this?
Iskandar Malaysia Eyes RM15-RM21 Billion Investments This Year
JOHOR BAHARU, Feb 5 (Bernama) -- Iskandar Malaysia development region is expected to attract RM15 billion to RM21 billion in domestic and foreign investments this year.
Iskandar Regional Development Authority (IRDA) chief executive Datuk Ismail Ibrahim said the investment target represented part of IRDA's key performance indicator (KPI).
"Our KPI target this year is to bring in investments of between RM15 billion and RM21 billion," he said to reporters in conjunction with the launch of Jejak Teraju Iskandar Malaysia at the Persada Johor International Convention Centre here Tuesday.
Since its launch in 2006 and up to Dec 31, 2012, Iskandar Malaysia has successfully attracted investments totalling RM106.31 billion from local and foreign companies.
He said 63 per cent of the investments received was from local companies while 37 per cent was from foreign firms.
On Singapore Prime Minister Lee Hsien Loong's visit to Iskandar Malaysia on Feb 18, Ismail said he was informed of the visit which is the first by a high-ranking official from Singapore.
The official announcement will be made by the Prime Minister's Department.
Lee is expected to be in Iskandar Malaysia to officiate the development of the Wellness Township project, one of the iconic projects to be jointly developed by Khazanah Nasional and Temasek Holdings.
Ismail said the Singapore prime minister's visit represents a clear sign on the huge and healthy potential of Iskandar Malaysia.
Recently, Iskandar Malaysia, which spans 2,217 sq km, has received increased investments from Singaporean companies such as the RM3 billion integrated eco-friendly tech park by Ascendas, under a joint venture with local developer UEM Land.
Apart from that, Singapore billionaire Peter Lim will also invest RM3 billion to build an 'Auto City' in Nusajaya, with Formula One track facilities, also on a joint venture with UEM Land.
Singaporean investors are also involved in buying properties in Iskandar Malaysia.
Most developers will try to trick the bumis n say that all the projects are taken, as they also do not want to offer a 15% discount. Savvy bumis will check with the Land Office to ensure they are not deceived. That said, with the high prices now, its getting increasingly tougher for the bumis, esp in Nusajaya area, to buy new units.
Then maybe there will be opportunities again for the risk takers to buy cheap land.
It will be great also if a new bridge replaces the old woodland causeway to address the the traffic needs there.
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Rowsley inks deal for acquisition of RSP, freehold land
Feb 4, 2013 - PropertyGuru.com.my
By Farah Wahida:
Rowsley Ltd will acquire RSP Architects Planners & Engineers (Pte) Ltd as well as a 9.23ha land from Vantage Bay Sdn Bhd through an all-share deal worth S$545 million (RM1.4 million), reported Bernama.
Under the sales and purchase (S&P) agreement, Rowsley will pay up to S$187 million (RM468 million) to Dr Albert Hong Kin Kay of RSP Architects and four of his partners by issuing S$1.25 billion (RM3.13 billion) Rowsley shares.
Meanwhile, the land acquisition will see Rowsley paying up to S$358 million (RM896 million) with the release of 2.4 billion shares. Located in Johor Bahru Flagship A of the Iskandar Development Region, the freehold land will be developed into an integrated mixed-use township comprising residential, shopping and entertainment complexes as well as a hotel, office and commercial developments.
“The signing of the two agreements today takes Rowsley a step nearer to turning our aspiration to become a major real estate player in the Iskandar region, into reality,” said Rowsley Chairman Dr Ho Tat Kin.
He added that RSP’s excellent track record in urban development will help drive Rowsley’s future growth strategy and RSP will also gain greater access and visibility to the capital markets with its public listing through Rowsley.
S'pore firm makes landfall in Medini Iskandar
SINGAPORE: Link (THM) Holdings Pte Ltd, a privately owned property development group renowned for its boutique projects here, on Tuesday formalised an agreement to purchase a 5.9ha plot from Global Capital & Development, the concession holder of Medini Iskandar.
Medini Iskandar's lead shareholders include Iskandar Investment Bhd and Mubadala, an Abu Dhabi Government investment company.
Link (THM) will turn the land into a mixed properties development that is expected to be completed in three phases over five years, the company said in a statement.
Known as Media Village @ Medini Iskandar, the gross development value of the project is in excess of S$1 billion (RM2.5 billion), which is in the form of progressive payments of the land price.
This marks the first privately-owned Singapore property company to solely commit to a massive property development project in Medini Iskandar.
The development site has been earmarked for a media village cluster designed to support Pinewood Studio, a US$150 million (RM465 million) film and television production facility that is projected to create more than 3,000 jobs.
Once completed in 2018, there will be more than 2,000 small office-home office (SOHO) and business suites with 1.2 million sq ft of net saleable area, while the commercial properties consisting of mainly food and beverage outlets will take up 1.1 million sq ft of net lettable area.
For the residential component, Link (THM) intends to build seven 25- to 35-storey tower blocks.
Media Village @ Medini Iskandar is 17km, or a 10-minute, drive from Singapore's Tuas Checkpoint.
Facing the entrance of Media Village @ Medini Iskandar is film-making firm Pinewood Studios.
Legoland, Hello Kitty and Wellness Hub by Singapore Temasek and EduCity are minutes away from Media Village @ Medini Iskandar.
Notable future developments at the vicinity of Media Village @ Medini Iskandar are a financial district and a premium shopping belt, dubbed the "Orchard Road of Singapore".
Founder and group chief executive officer of Link (THM), Kenny Tan said: "We are excited to be involved in one of the largest and most ambitious development projects in Southeast Asia.
"Media Village @ Medini Iskandar indirectly extends our presence into the region as we expect the development concept for the mixed properties to attract buyers and investors from the region and beyond."
Commenting on Link (THM)'s foray into Medini Iskandar, Datuk Syed Mohamed Ibrahim, president and chief executive officer of Iskandar Investment Bhd (IIB), said: "As the strategic developer of catalytic projects in Iskandar Malaysia, IIB is pleased to have Link (THM) from Singapore investing and developing Asia's next destination hub right in the heart of Medini - Media Village @ Medini Iskandar.
Located next to Pinewood Studios, the new international production facility in Asia, Media Village @ Medini Iskandar is expected play a critical role in defining Asia's new creative arts production hub.
"Besides providing the ecosystem platform for Asia's creative industries, Media Village @ Medini Iskandar also provides a truly unique experience in Asia through its innovative design and content inventory," he added. Bernama
Sorry for the double post. Thought this might be more relevant here:
Page 2 of the report on the link has maps and pictures of Sunway's land acquisition at Medini and nearby:
If you zoom into the bottom picture, notice that there is an existing development just south of Sunway land, across the river near the mouth.
Another one with more details on latest acquisition by Sunway:
I juz visited Plenitude office to sign my SPA. Quite a lot of buyers now such tt those units tt I saw was available 1 mth ago were mostly sold today. Even e unreleased phases r open for sale but subject to management approval n .only abt 60% of them r left (in e unreleased phase).
UEM Land to launch affordable homes scheme
Feb 7, 2013 - PropertyGuru.com.my
By Farah Wahida:
Property developer UEM Land Holdings Bhd will build around 1,000 homes on a 32.37ha site in Jalan Ulu Choh-Lima Kedai as part of its affordable housing scheme for eligible first-time homeowners this year, according to the company’s Senior General Manager Mohd Nadzari Bachek.
“We are already in the final stage of planning the project including the pricing and the floor built-up area of each unit.”
To be located near the Iskandar Malaysia Public Housing project, the project will include single- or double-storey terrace houses, depending on the state government’s approval, said Mohd Nadzari.
“We are looking at selling the houses at RM150,000 each but the final price will also take into account other factors such as building material and labour costs.”
Meanwhile, UEM Land also wants to lure in more Chinese investors into Nusajaya, as they eye foreign countries to diversify their portfolio, revealed Mohd Nadzari.
He noted that these investors and property developers spend generously when investing abroad.
“We still have 3,237.48ha land for development in Nusajaya, including 1,821.08ha in Gerbang Nusajaya, which is suitable for big-scale property projects,” he added.
Farah Wahida, Editor of PropertyGuru, wrote this story. To contact her about this or other stories email [email protected]