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New developments to share
- Thread starter wuqi256
- Start date
I just don't feel very good to be near factories as there may be suspicious characters lurking in the neighbourhood. Add to that are pollutant, fire or riot hazards.
You got a point..
田鸡不可泻...:p
http://www.starproperty.my/index.ph...-malaysia-10-reasons-to-buy-properties-there/
‘Propenomics’ of Iskandar Malaysia: 10 reasons to buy properties there
Posted on August 19, 2014
Real estate insights
BY DR. DANIELE GAMBERO
ISKANDAR Malaysia, which was officially launched in 2006, covers an area of 2,217sq km (23.86bil sq ft, which is roughly three times the size of Singapore). Upon launching, its total population was 1.35 million people, of which the total workforce was 610,000 employees. Khazanah Nasional Bhd drew a 20-year Comprehensive Development Plan (CDP which is available online at the IRDA or Iskandar Regional Development Authority website) covering all the multi-faceted aspects of developing a new economic growth region.
As at December 2013, the Iskandar Malaysia population showed a head count of 1,880,000 of which 750,000 was the total workforce. (Refer to map)
Here are the 10 reasons why buying into the Iskandar Malaysia Economic Development Idea should be considered as good and sustainable:
(1) Good planning
The CDP has been studying all the possible aspects of the regional development and acts as a master plan for the whole of Iskandar Malaysia. The manufacturing and services sectors are the drivers justifying the population growth projection of three million by 2025 with a workforce of 1.5 million).
Besides this, the CDP provided a complete study on existing and planned infrastructure that will be necessary to satisfy the needs of an escalating population count. Water reticulation, power supply, highways, expressways, railways with planned MRT (mass rapid transit), LRT (light rapid transit) and monorail, just to mention the main works, have been properly planned and partially executed. EDL (Eastern Dispersal Link) and the Senai-Desaru Highway are only two of the many public works already completed and in use.
(2) Economic growth
Economic development has been given priority as without FDI (Foreign Direct Investment) and local manufacturing/services investment, there cannot be future development of the region. As at December 2013, out of the RM130bil of committed investment, IRDA has achieved RM133bil of which 45% has already been realised.
Interestingly, only RM8.3bil represents the public investment as this underlines how much the private sector believes in Iskandar Malaysia. The same goes for properties which only total less than 24% of the total sum – highlighting the sustainability of the whole region. (Refer to Table 1)
(3) Differentiated economic clusters
The nine pre-defined economic clusters all respect the given timetable and some of them are even anticipating it. The electrical and electronics, oil and gas, food and agricultural processing, logistic, education, finance, tourism, health and creative industries have attracted local and international corporations in the region which have boosted the growth factor of Iskandar Malaysia. More than 20 universities have planned their Malaysian campuses just a stone’s throw away from Medini and some of them have already opened for students’ registration.
Pinewood Iskandar Malaysia Studios, which has been officially opened last year, received great response from the local and international movie industries which have booked it for the next several months. A good number of new industrial parks have been successfully completed and occupied by Malaysian and Singaporean SMEs (small medium enterprises) and more are in the pipeline giving again, a long-term sustainability effect to the regional development. (Refer to Table 2)
(4) Infrastructure works completed
The Federal and State Government as well as related authorities have completed a general improvement and upgrading of all the infrastructure (road, water reticulation, power distribution and so on) before the actual property developments are developed. On top of the planned infrastructure from the last two years, we have seen a number of important announcements about the proposed highspeed rail (HSR) linking Kuala Lumpur and Singapore, which is now under finalisation in terms of the alignment of stations and more recently, the third link or “friendship bridge” that has been brought up during the last official visit of the Singaporean Prime Minister Lee Hsien Loong to Malaysia.
(5) Singapore boost to Iskandar Malaysia
Due to Singapore’s stringent land policies, industrial developments are normally getting a non-renewable 30-year lease. The City State’s SMEs are now looking with deep interest into a possible expansion for their manufacturing and productive sectors into Iskandar Malaysia which is the perfect location for these components.
Drivers for the Singaporean decision to invest in Iskandar Malaysia include: freehold properties, low cost of industrial space either leased or built, low cost of labour, low cost of properties in general, ease of accessibility by road (two bridges are offering alternative routes to access Iskandar Malaysia), ease of doing business environment and willingness to improve on the Malaysian side.
(6) Wide and diversified investor base
Even though Singapore can be looked upon as one of the main drivers for the Iskandar Malaysia economic development success, local investment still represents the greatest part (65%) of the total RM133bil of committed investment as at December 2014. Out of the top 10 foreigner countries investing in Iskandar Malaysia, Singapore represents 29% of the total committed investment, showing high sustainability based on a highly diversified investors base. (Refer to Table 3)
(7) Moving towards high-income status
The Johor state has been seeing the highest increase of per capita income during the last four years (2009 – 2012 = +33%) compared to the rest of Malaysia. This raises the average value of affordable houses to a good 25% and the projection is on par with Selangor, which recorded a range of RM38,000/RM40,000 average per capita income, by or before the next three years. This rapid growth will boost the development of shopping malls, retail areas and commercial spaces, which will expand at a much higher pace generating interesting yield for experienced and new investors, not to mention the positive impact on property prices generated by a higher per capita income environment.
(8) Freehold offered to foreigners
Malaysia is the only country in the whole South-East Asia region whereby foreigners are allowed to buy freehold real estate properties (residential, commercial, industrial and land) without particular restrictions (currently there is only a RM1mil threshold and a consent letter to be released by the local authorities).
(9) Competitiveness of property prices in the region
Even though valid for Malaysia as a whole, we are still the country where properties are at the lowest price compared to all our regional neighbours.
By comparing the ratio between the average per capita income with the average property price of all our regional neighbours, it appears quite clear the advantage Malaysia has and the positive outlook in terms of appreciation. (Refer to Table 4)
(10) Still strong unmatched demand for housing
Iskandar Malaysia is one of the regions in Malaysia whereby the current demand of residential properties lacks adequate offer. This foresees a higher capital gain in the short-term as compared to other states where demand and supply are more balanced. A very good plus factor which can be found in Iskandar Malaysia is the rather balanced offer of affordable houses with values hovering around RM250 per sq ft to RM600 per sq ft and where high-end units are offered in good quantity for both direct or investment purposes. The coastal areas connecting the Second Link, the Causeway and the eastern side of Johor Baru are currently offering investment products starting from RM500 per sq ft to RM600 per sq ft and upwards to RM1,600 per sq ft, while more affordable units can be found in the whole northern corridor comprising Kulai, Senai and Tebrau – right down to Pasir Gudang. Table 5 also shows how sustainable demand will be for the next six years and gives a clear idea on the possible capital appreciation and ROI (return on investment) that buyers and investors may have on their purchases.
>> Sources: Napic Property Market Report 2013, CIMB, Yearbook of Statistics Singapore 2013, IRDA, Ho Chin Soon Research, REI Archives
>> REI Group of Companies CEO and co-founder Dr Daniele Gambero gives presentations on the property market and welcomes feedback at daniele.g@
‘Propenomics’ of Iskandar Malaysia: 10 reasons to buy properties there
Posted on August 19, 2014
Real estate insights
BY DR. DANIELE GAMBERO
ISKANDAR Malaysia, which was officially launched in 2006, covers an area of 2,217sq km (23.86bil sq ft, which is roughly three times the size of Singapore). Upon launching, its total population was 1.35 million people, of which the total workforce was 610,000 employees. Khazanah Nasional Bhd drew a 20-year Comprehensive Development Plan (CDP which is available online at the IRDA or Iskandar Regional Development Authority website) covering all the multi-faceted aspects of developing a new economic growth region.
As at December 2013, the Iskandar Malaysia population showed a head count of 1,880,000 of which 750,000 was the total workforce. (Refer to map)
Here are the 10 reasons why buying into the Iskandar Malaysia Economic Development Idea should be considered as good and sustainable:
(1) Good planning
The CDP has been studying all the possible aspects of the regional development and acts as a master plan for the whole of Iskandar Malaysia. The manufacturing and services sectors are the drivers justifying the population growth projection of three million by 2025 with a workforce of 1.5 million).
Besides this, the CDP provided a complete study on existing and planned infrastructure that will be necessary to satisfy the needs of an escalating population count. Water reticulation, power supply, highways, expressways, railways with planned MRT (mass rapid transit), LRT (light rapid transit) and monorail, just to mention the main works, have been properly planned and partially executed. EDL (Eastern Dispersal Link) and the Senai-Desaru Highway are only two of the many public works already completed and in use.
(2) Economic growth
Economic development has been given priority as without FDI (Foreign Direct Investment) and local manufacturing/services investment, there cannot be future development of the region. As at December 2013, out of the RM130bil of committed investment, IRDA has achieved RM133bil of which 45% has already been realised.
Interestingly, only RM8.3bil represents the public investment as this underlines how much the private sector believes in Iskandar Malaysia. The same goes for properties which only total less than 24% of the total sum – highlighting the sustainability of the whole region. (Refer to Table 1)
(3) Differentiated economic clusters
The nine pre-defined economic clusters all respect the given timetable and some of them are even anticipating it. The electrical and electronics, oil and gas, food and agricultural processing, logistic, education, finance, tourism, health and creative industries have attracted local and international corporations in the region which have boosted the growth factor of Iskandar Malaysia. More than 20 universities have planned their Malaysian campuses just a stone’s throw away from Medini and some of them have already opened for students’ registration.
Pinewood Iskandar Malaysia Studios, which has been officially opened last year, received great response from the local and international movie industries which have booked it for the next several months. A good number of new industrial parks have been successfully completed and occupied by Malaysian and Singaporean SMEs (small medium enterprises) and more are in the pipeline giving again, a long-term sustainability effect to the regional development. (Refer to Table 2)
(4) Infrastructure works completed
The Federal and State Government as well as related authorities have completed a general improvement and upgrading of all the infrastructure (road, water reticulation, power distribution and so on) before the actual property developments are developed. On top of the planned infrastructure from the last two years, we have seen a number of important announcements about the proposed highspeed rail (HSR) linking Kuala Lumpur and Singapore, which is now under finalisation in terms of the alignment of stations and more recently, the third link or “friendship bridge” that has been brought up during the last official visit of the Singaporean Prime Minister Lee Hsien Loong to Malaysia.
(5) Singapore boost to Iskandar Malaysia
Due to Singapore’s stringent land policies, industrial developments are normally getting a non-renewable 30-year lease. The City State’s SMEs are now looking with deep interest into a possible expansion for their manufacturing and productive sectors into Iskandar Malaysia which is the perfect location for these components.
Drivers for the Singaporean decision to invest in Iskandar Malaysia include: freehold properties, low cost of industrial space either leased or built, low cost of labour, low cost of properties in general, ease of accessibility by road (two bridges are offering alternative routes to access Iskandar Malaysia), ease of doing business environment and willingness to improve on the Malaysian side.
(6) Wide and diversified investor base
Even though Singapore can be looked upon as one of the main drivers for the Iskandar Malaysia economic development success, local investment still represents the greatest part (65%) of the total RM133bil of committed investment as at December 2014. Out of the top 10 foreigner countries investing in Iskandar Malaysia, Singapore represents 29% of the total committed investment, showing high sustainability based on a highly diversified investors base. (Refer to Table 3)
(7) Moving towards high-income status
The Johor state has been seeing the highest increase of per capita income during the last four years (2009 – 2012 = +33%) compared to the rest of Malaysia. This raises the average value of affordable houses to a good 25% and the projection is on par with Selangor, which recorded a range of RM38,000/RM40,000 average per capita income, by or before the next three years. This rapid growth will boost the development of shopping malls, retail areas and commercial spaces, which will expand at a much higher pace generating interesting yield for experienced and new investors, not to mention the positive impact on property prices generated by a higher per capita income environment.
(8) Freehold offered to foreigners
Malaysia is the only country in the whole South-East Asia region whereby foreigners are allowed to buy freehold real estate properties (residential, commercial, industrial and land) without particular restrictions (currently there is only a RM1mil threshold and a consent letter to be released by the local authorities).
(9) Competitiveness of property prices in the region
Even though valid for Malaysia as a whole, we are still the country where properties are at the lowest price compared to all our regional neighbours.
By comparing the ratio between the average per capita income with the average property price of all our regional neighbours, it appears quite clear the advantage Malaysia has and the positive outlook in terms of appreciation. (Refer to Table 4)
(10) Still strong unmatched demand for housing
Iskandar Malaysia is one of the regions in Malaysia whereby the current demand of residential properties lacks adequate offer. This foresees a higher capital gain in the short-term as compared to other states where demand and supply are more balanced. A very good plus factor which can be found in Iskandar Malaysia is the rather balanced offer of affordable houses with values hovering around RM250 per sq ft to RM600 per sq ft and where high-end units are offered in good quantity for both direct or investment purposes. The coastal areas connecting the Second Link, the Causeway and the eastern side of Johor Baru are currently offering investment products starting from RM500 per sq ft to RM600 per sq ft and upwards to RM1,600 per sq ft, while more affordable units can be found in the whole northern corridor comprising Kulai, Senai and Tebrau – right down to Pasir Gudang. Table 5 also shows how sustainable demand will be for the next six years and gives a clear idea on the possible capital appreciation and ROI (return on investment) that buyers and investors may have on their purchases.
>> Sources: Napic Property Market Report 2013, CIMB, Yearbook of Statistics Singapore 2013, IRDA, Ho Chin Soon Research, REI Archives
>> REI Group of Companies CEO and co-founder Dr Daniele Gambero gives presentations on the property market and welcomes feedback at daniele.g@
10 km at least from heavy industries and low-end manufacturing factories that employ a lot of foreign labour, who usually face low-wage pressure, poorer working environment and/or experience discrimination at work.
5 km from business parks will be comfortable if they are mainly employing locals and expats.
Malaysia Property Show 2014
13-14 Sep at MBS Singapore
http://events.propertyguru.com.sg/mpssept?gclid=CN-vmLGDssACFYgsjgod128AbA
13-14 Sep at MBS Singapore
http://events.propertyguru.com.sg/mpssept?gclid=CN-vmLGDssACFYgsjgod128AbA
Najib is in town today. Hopefully he & LHL can sort out the toll fees, VEH fees, and the HSR/RTS over Musang King durian.
http://www.mfa.gov.sg/content/mfa/media_centre/press_room/pr/2014/201408/press_20140827.html
http://www.mfa.gov.sg/content/mfa/media_centre/press_room/pr/2014/201408/press_20140827.html
More likely they will be disscussing how to fix those SGean & SPrs travelling to and fro JB daily. Like fixing oppies lor :p
Last edited:
Iskandar Malaysia welcomes 5-year multiple entry visa ruling
JOHOR BARU: Johor's Iskandar Malaysia economic growth region has welcomed the new five-year multiple entry visa ruling which will be enforced by year-end for business visitors, foreign fund managers and investors.
On August 27, it was reported that Prime Minister Datuk Seri Najib Razak said business visitors, foreign fund managers and investors can apply for a five-year multiple entry visa from December this year.
Noting that the move will allow positive economic growth in south Johor and encourage positive investment opportunities, many in south Johor are welcoming the move.
Iskandar Investmant Berhad (IIB) president and chief executive officer Datuk Syed Mohamed Syed Ibrahim said as a strategic developer and significant stakeholder of Iskandar Malaysia, IIB is committed to encourage investment, stimulate growth and ensure its sustainability.
“Freer mobility will further enhance Iskandar Malaysia as an attractive investment destination. We applaud this timely decision to implement multiple entry visas for investors,” said Syed Mohamed in response to the announcement.
Medini Iskandar Malaysia Sdn Bhd managing director and chief executive officer Ir. Khairil Anwar Ahmad said the announcement will create a positive impact on Medini's positioning as a preferred career destination.
“As the master developer of Medini Iskandar Malaysia, we are developing an investment and business hub for this region to host multi-national companies,” he said.
Khairil also said the implementation of the Asean Economic Community (AEC) will enhance the flow of quality skilled manpower supply to Iskandar Malaysia which is vital in developing a sustainable metropolis in Medini.
The Iskandar Malaysia Chamber of Commerce and Industry also welcomed the introduction of the five-year multiple entry visa for professionals.
Its president Md Salikon Sarpin said the introduction of the visa is a positive move by the government as it makes Malaysia a more business-friendly place and would help to attract more investors into the country.
“As business people, they are always busy and on the run, so the availability of this visa would make it easier for them to conduct their business in Malaysia. It would it less of a hassle to do business here.
Md Salikon said investors are bringing in revenue to the country and employment opportunities for the local people, so it is good that the government is doing something to facilitate them.
Over the years, south Johor has been at the forefront of the country's development via the Iskandar Malaysia economic projects.
Located in the southern part of Johor, Iskandar Malaysia, which spans 2,217 sq km, making it three times bigger than Singapore and twice the size of Hong Kong, was mooted about seven years ago.
Since its establishment, it has recorded a cumulative total investment of more than RM130 billion. Of this, RM60 billion represented investments that had been realised.
JOHOR BARU: Johor's Iskandar Malaysia economic growth region has welcomed the new five-year multiple entry visa ruling which will be enforced by year-end for business visitors, foreign fund managers and investors.
On August 27, it was reported that Prime Minister Datuk Seri Najib Razak said business visitors, foreign fund managers and investors can apply for a five-year multiple entry visa from December this year.
Noting that the move will allow positive economic growth in south Johor and encourage positive investment opportunities, many in south Johor are welcoming the move.
Iskandar Investmant Berhad (IIB) president and chief executive officer Datuk Syed Mohamed Syed Ibrahim said as a strategic developer and significant stakeholder of Iskandar Malaysia, IIB is committed to encourage investment, stimulate growth and ensure its sustainability.
“Freer mobility will further enhance Iskandar Malaysia as an attractive investment destination. We applaud this timely decision to implement multiple entry visas for investors,” said Syed Mohamed in response to the announcement.
Medini Iskandar Malaysia Sdn Bhd managing director and chief executive officer Ir. Khairil Anwar Ahmad said the announcement will create a positive impact on Medini's positioning as a preferred career destination.
“As the master developer of Medini Iskandar Malaysia, we are developing an investment and business hub for this region to host multi-national companies,” he said.
Khairil also said the implementation of the Asean Economic Community (AEC) will enhance the flow of quality skilled manpower supply to Iskandar Malaysia which is vital in developing a sustainable metropolis in Medini.
The Iskandar Malaysia Chamber of Commerce and Industry also welcomed the introduction of the five-year multiple entry visa for professionals.
Its president Md Salikon Sarpin said the introduction of the visa is a positive move by the government as it makes Malaysia a more business-friendly place and would help to attract more investors into the country.
“As business people, they are always busy and on the run, so the availability of this visa would make it easier for them to conduct their business in Malaysia. It would it less of a hassle to do business here.
Md Salikon said investors are bringing in revenue to the country and employment opportunities for the local people, so it is good that the government is doing something to facilitate them.
Over the years, south Johor has been at the forefront of the country's development via the Iskandar Malaysia economic projects.
Located in the southern part of Johor, Iskandar Malaysia, which spans 2,217 sq km, making it three times bigger than Singapore and twice the size of Hong Kong, was mooted about seven years ago.
Since its establishment, it has recorded a cumulative total investment of more than RM130 billion. Of this, RM60 billion represented investments that had been realised.
There is a small condo project near e new bus interchange n mall at 2nd link. The new factories will be nearby. Only ard $500 RM psf or $4xxk RM for a 2-bedder. Seems quite good. Nearly fully sold. Once levy n toll go up, properties near these nodes will appreciate in price.
CapitaLand's Iskandar township project hits snag
It seeks 6-month extension on launch of first phase of S$3.2b township
BY ANITA GABRIEL
[email protected] @AnitaGabrielB
PUBLISHED SEPTEMBER 23, 2014
[SINGAPORE] Amid growing anxiety over a glut of high-rise residences in Malaysia's Iskandar, a mega waterfront township project there appears to have hit a snag.
The Business Times understands that CapitaLand, South-east Asia's largest real estate developer, recently sought a six-month extension on the launch of its 900-unit high rise condominium, which is the first phase of a S$3.2 billion Danga Bay project, which spans some 28 ha on a man-made island.
The project is CapitaLand's first big project in the country and one of several major business deals born out of warmer Singapore-Malaysia ties.
The group, which is leading the masterplan and project development, may also tweak the plan and cut down the number of high-rise residential units it plans to offer as Iskandar's rosy appeal wilts under a massive oversupply of homes on the back of frenzied building, according to sources.
Under the original plan, the project would comprise some 6,000 high-rise and landed homes, anchored by a central waterfront hub with a marina, shopping mall, food and beverage outlets, serviced residences, offices and recreational facilities.
According to CapitaLand's 2013 annual report, the first phase of the project to be developed over 10-12 years, would be "launch ready" in 2014.
When contacted, a CapitaLand spokesperson responded that the firm was still awaiting a key approval for the project.
"CapitaLand, together with our joint venture partners, are currently working on obtaining approval for the overall master plan for the Danga Bay development.
"This is our priority at this point in time," said the company spokesperson.
It is not clear if the project's delay is a result of it not having obtained the nod yet from the Johor state authorities, although generally, most had expected this to be a "shoo-in" as the project is a 51:9:40 partnership between Capitaland, Singapore's Temasek Holdings and Malaysia's Iskandar Waterfront Holdings (IWH).
IWH is Danga Bay's master developer and is majority owned by its chief executive Lim Kang Hoo and counts Johor State Government as its 30 per cent shareholder. Danga Bay is located in one of five flagship zones in Iskandar.
That the three parties had inked the pact for the project back in February 2013 which was witnessed by the prime ministers of Singapore and Malaysia further underscores the project's significance.
One source said that it took longer than expected for the parties to sort out some of the plan's nitty-gritty. The delay is not good news, especially for IWH.
"It's a high-brand project with high-brand names," said an observer with knowledge of the development. "IWH needs this project, more than anybody else, to take off smoothly as it will instil confidence in drawing other big names and investors."
There could be more to it.
Market wags say the relations between Mr Lim, dubbed by Forbes as Malaysia's "newly-minted billionaire", and the Johor state government appears to have become somewhat strained of late. It is possibly this, apart from the weak real estate conditions in Iskandar, that led to the delay in IWH's US$300 million initial public offering which was meant to happen earlier this year. The stock offering has been postponed indefinitely.
If the speculation is true, the project may have found itself unwittingly caught in the middle.
Iskandar can ill afford another debacle. Long deemed an irresistible lure for real estate investors and builders, Malaysia's booming southern spot is now fraught with oversupply worries led by aggressive builders from mainland China and marred by a massive land reclamation project which has since been issued a stop-work order following concerns.
Having reached its tipping point last year, Iskandar's real estate market has started to hit a soft patch, worsened further by property curbs which has led many builders, local and foreign, to defer their launches until some clarity emerges in terms of market direction.
"Iskandar has reached a plateau," noted one analyst.
http://www.businesstimes.com.sg/pre...-iskandar-township-project-hits-snag-20140923
It seeks 6-month extension on launch of first phase of S$3.2b township
BY ANITA GABRIEL
[email protected] @AnitaGabrielB
PUBLISHED SEPTEMBER 23, 2014
[SINGAPORE] Amid growing anxiety over a glut of high-rise residences in Malaysia's Iskandar, a mega waterfront township project there appears to have hit a snag.
The Business Times understands that CapitaLand, South-east Asia's largest real estate developer, recently sought a six-month extension on the launch of its 900-unit high rise condominium, which is the first phase of a S$3.2 billion Danga Bay project, which spans some 28 ha on a man-made island.
The project is CapitaLand's first big project in the country and one of several major business deals born out of warmer Singapore-Malaysia ties.
The group, which is leading the masterplan and project development, may also tweak the plan and cut down the number of high-rise residential units it plans to offer as Iskandar's rosy appeal wilts under a massive oversupply of homes on the back of frenzied building, according to sources.
Under the original plan, the project would comprise some 6,000 high-rise and landed homes, anchored by a central waterfront hub with a marina, shopping mall, food and beverage outlets, serviced residences, offices and recreational facilities.
According to CapitaLand's 2013 annual report, the first phase of the project to be developed over 10-12 years, would be "launch ready" in 2014.
When contacted, a CapitaLand spokesperson responded that the firm was still awaiting a key approval for the project.
"CapitaLand, together with our joint venture partners, are currently working on obtaining approval for the overall master plan for the Danga Bay development.
"This is our priority at this point in time," said the company spokesperson.
It is not clear if the project's delay is a result of it not having obtained the nod yet from the Johor state authorities, although generally, most had expected this to be a "shoo-in" as the project is a 51:9:40 partnership between Capitaland, Singapore's Temasek Holdings and Malaysia's Iskandar Waterfront Holdings (IWH).
IWH is Danga Bay's master developer and is majority owned by its chief executive Lim Kang Hoo and counts Johor State Government as its 30 per cent shareholder. Danga Bay is located in one of five flagship zones in Iskandar.
That the three parties had inked the pact for the project back in February 2013 which was witnessed by the prime ministers of Singapore and Malaysia further underscores the project's significance.
One source said that it took longer than expected for the parties to sort out some of the plan's nitty-gritty. The delay is not good news, especially for IWH.
"It's a high-brand project with high-brand names," said an observer with knowledge of the development. "IWH needs this project, more than anybody else, to take off smoothly as it will instil confidence in drawing other big names and investors."
There could be more to it.
Market wags say the relations between Mr Lim, dubbed by Forbes as Malaysia's "newly-minted billionaire", and the Johor state government appears to have become somewhat strained of late. It is possibly this, apart from the weak real estate conditions in Iskandar, that led to the delay in IWH's US$300 million initial public offering which was meant to happen earlier this year. The stock offering has been postponed indefinitely.
If the speculation is true, the project may have found itself unwittingly caught in the middle.
Iskandar can ill afford another debacle. Long deemed an irresistible lure for real estate investors and builders, Malaysia's booming southern spot is now fraught with oversupply worries led by aggressive builders from mainland China and marred by a massive land reclamation project which has since been issued a stop-work order following concerns.
Having reached its tipping point last year, Iskandar's real estate market has started to hit a soft patch, worsened further by property curbs which has led many builders, local and foreign, to defer their launches until some clarity emerges in terms of market direction.
"Iskandar has reached a plateau," noted one analyst.
http://www.businesstimes.com.sg/pre...-iskandar-township-project-hits-snag-20140923
The delay is not good news, in fact its BAD NEWS!
Perhaps some people are already getting cold feet with the current massive invasion by the Chinese developers.
And it takes unusually long to get the project off the ground despite being a "high-brand project with high-brand names".
R&F Princess Cove just took only several months from land sales to project approval to site piling to launching of project.
Seems like the project launching may be held back to next year or worse, delay indefinitely.
Just last week when Tan Sri Liew of Ecoworld was giving an interview he told everyone "Once the market turn bad, make sure your investment is first in line to be sold". It is all about niches and having the best location within a location. Wise words.
When things get too crowded and with poor infrastructure in place, it makes all the sense to invest elsewhere.
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