We're on Malaysia's side aren't we?We want IR(punt not intended) to grow and be very successful but the top people are doing funny things to restrain this otherwise rapidly growing monster...........
I am (literally) on both sides bro. And I have seen drastic measures and policies come out on both sides that may be termed and 'funny things' and 'unintelligent' by some. Such as drastic cooling measures. Recently several countries did that - Canada, Australia, UK, HK, UAE, Malaysia and dont forget Singapore - some countries did a series of them. In fact, I would consider Malaysia one to be milder compared to the rest. Dont get me wrong, just like you, I am down to my last underwear as well.
However, such measures are not necessarily bad even for those who are vested in case they are looking at the long run. One good thing that has come out of this 'doom and gloom' news is that the supply is being restrained in the last 6 months. The rental is down in East Ledang not just because Singapore commuters are not renting, but too much supply has come in the past 12 months - P3a, P3b, P4a, P6a, P6b, 7, 8 - previously there were only Phase 1 & 2. Imagine what would happen in 2-3 years time if UEM went ahead aggressively with more launches - the new condo project, Phase 5, Estuary - these are all deferred as I uderstand. And I think that is good news as supply will be better matched with commercial projects. Also, hopefully, some of the developers will be focused on improving quality, creating a better brand and not just focusing on new launches.
Anyway, on the brighter side, the following news clippings that are exciting:
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Approval has just been obtained from the Maritime and Port Authority of Singapore for a ferry service to connect Puteri Harbour to HarbourFront, Mr Cheah said. UEM has engaged WaveMaster with services targeted to start in the second quarter of this year.
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According to UEM Sunrise chief operating officer (commercial) Raymond Cheah, the HSR station will be located in the centre of Gerbang Nusajaya and surrounded by catalytic developments such as Nusajaya Tech Park and Singapore tycoon Peter Lim's Motorsport City. He said the final stop for the HSR terminal in Johor will be in Iskandar Malaysia, in particular flagship B, which is Nusajaya.
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Sedenak Iskandar data hub — a 700-acre data hub in the Iskandar Malaysia area of Johor — has been announced to meet the region’s rising demand for datacentre space and services.
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Nusajaya Tech Park has sold 73 per cent of the 21 ready-built factories released in phase one at RM380 per square foot onwards - a fraction of Singapore's industrial land prices, said Ascendas CEO for South-east Asia William Tay. Telekom Malaysia and Sanwa are among its clients.
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Development of one of Iskandar's flagship zones, Nusajaya, is being stepped up significantly. Master developer UEM Sunrise yesterday disclosed comprehensive plans for phase two of the project, west of Johor Baru city. The first phase had a strong focus on homes, while the second will be about job creation through boosting commercial and industrial heft. "We are growing Nusajaya organically and in phases, making sure supply and demand are balanced... It is not like pumping in steroids," Mr Raymond Cheah, UEM Sunrise chief operating officer, commercial, said yesterday.
