Precisely that JB should not be compared to SG. Some of you mentioned that JB is more relaxed, no mad rush like SG. I certainly agree that should be the way if you want to retire there.
But what is contradicting is that when it comes to property investment, there are those who start to compare JB to SG. For eg "Last time I bought this SG property the surrounding was also quiet.... but later the price went up by so much." So they imply that it's going to be the same with Iskandar. Why the double standard?
Anyways... What I reported was exactly what I had observed when I was in Medini. Those who are not familiar should really go there to move around and feel it.
The problem with a place like Medini is that only Singaporeans and investors from other countries will find the things (properties, for eg) affordable there by SG standard. But the common Malaysians will find it expensive. Gleneagles Medini is one such example perhaps. But the question still remains: Who are they targeting at?
As long as there is no convenient and fast transport from SG into Medini, the place won't boom or fly high. HSR and RTS (if this really exists) won't be of much help to boost it.
As I always recommend that investors should visit the site before deciding, your visit is commendable. That is the right way. It is a lot better than those who refuse to visit the site and listen only to the salesmen.
Medini or rather Iskandar started with "intention to lure investors", and the target market is never locals. I do know the Encorp condos in PH had roadshows in Hong Kong, Indonesia, Vietnam and Singapore when they were launched. The locals only had 3 floors allocated for them in Tower 2. They didn't even bother to market any in Malaysia for Tower 1 then. I couldn't buy any other floors other than these 3 floors. Maybe after 3 mths sale, then the remaining ones would be opened for release. Anyway it is 100% sold, so it is not an issue.
Connectivity from Singapore will remain an issue. The ferry CIQ is there. Malaysia ferries are running but not to Singapore. Malaysia recognised this and Iskandar is moving ahead with or without Singapore. I read somewhere they are now planning to link Danga Bay to Forest City with ferries with a stop at PH. With common CG as developer on both project, this should be easily implemented. The Chinese are coming, like it or not, the boom would be dependent on them. It is not going to be dependent on Singapore authorities, though its investors would like to have the linkages. Even if eventually Forest City plus those in Danga Bay or PC, a low occupancy of say 30%, in terms of numbers it is still a big figure. Moreso, the HSR will link from KL and up north bringing tourists up and down. The stop gap measure of linking JB to Gemas electric double railway track and to the existing KL/ Padang Besar (Thailand border) track is scheduled to be completed in 2 years time. Maybe not as fast as HSR, but still very comfortable train ride.
Singapore will not stay on the sideline to see the other side flourishing. It will eventually think of a way to pull the crowd over. How Iskandar respond will be intersting to watch then.
