New developments to share

[Valdez]

UEM Land eye Singapore buyers

May 27, 2013 - PropertyGuru.com.my
By Farah Wahida:

Kuala Lumpur-based UEM Land will sell RM4 billion worth of residential and commercial developments this year, with most of the projects located within the Iskandar Malaysia economic zone.

As such, these projects are expected to capture the growing demand from Singapore buyers who are capitalising on their proximity to the region, reported Bloomberg.

Wan Abdullah Wan Ibrahim, CEO of UEM Land, revealed that around three-fourths of the upcoming launches will be located in Nusajaya city in Johor— within the 222,600ha Iskandar region. Among the planned launches, UEM Land will unveil an exhibition mall and an F1 racing test track.

“Land value in Nusajaya is gaining momentum...Investors are seeing a trend that they like very much,” noted Wan Abdullah.

The strong interest from Singapore buyers is also a result of the close ties between the neighbouring countries. Recently, plans have been revealed on a 300km high-speed rail link connecting Singapore to Kuala Lumpur within just 90 minutes.

In a previous interview, PM Najib was quoted as saying: “The wealth they have in Singapore could certainly benefit Malaysia as well, and Malaysia’s hinterland will benefit Singapore.”

Indeed, companies from the city-state have poured in around S$2.5 billion (RM6 billion) into Iskandar since 2006, based on figures from the Iskandar Regional Development Authority.

 

[Valdez]

Some of this trillion $ reserve may come to buy SINGAPORE and iskandar properties ?

Bloomberg: China Said to Study U.S. Property Investments

From Bloomberg, 27/05/2013 4:45:22 PM
China is studying the possibility of investing a portion of its $3.4 trillion in foreign-exchange reserves in U.S. real estate, said two people with direct knowledge of the situation.

To read the entire article, go to http://bloom.bg/13bCEYn
Sent from the Bloomberg iPad application. Download the free application at http://itunes.apple.com/us/app/bloomberg-for-ipad/id364304764?mt=8

 

[rosnyus]

any bankers to recommend? looking at shop around...

 

[shctaw]

UEM Land Holdings Bhd. (ULHB), Malaysia’s biggest developer by market value, will start selling 4 billion ringgit ($1.3 billion) of new residential and commercial projects this year, targeting Singaporean buyers.
UEM Taps Land-Starved Singapore to Sell Iskandar Property.

About three-fourths of new developments will be at Nusajaya city in the southern Malaysian state of Johor where new condominium prices have more than doubled since 2009, said Chief Executive Officer Wan Abdullah Wan Ibrahim. That’s within the 550,000-acre (222,600-hectare) Iskandar Malaysia economic zone, promoted by the government to tap demand from neighboring Singapore for everything from seafront homes to oil storage.

“Land value in Nusajaya is gaining momentum,” Wan Abdullah said in a May 23 interview in Kuala Lumpur. “Investors are seeing a trend that they like very much.”

UEM Land is taking advantage of the closer ties being fostered by the two Southeast Asian countries after decades of arguments over issues including land ownership have been resolved. UEM Land announced 4 billion ringgit worth of projects in Iskandar in December, including an F1 racing test track and an exhibition mall.

Malaysia Prime Minister Najib Razak and his Singapore counterpart Lee Hsien Loong have announced plans for a high-speed rail link by 2020 that would cut the 300-kilometer (186-mile) journey from the island-city to Kuala Lumpur to 90 minutes, with Lee saying the two capitals could be seen as twin cities like London and Paris.

New Jersey
Singapore companies have invested about S$2.5 billion ($2 billion) in Iskandar since it was set up in 2006, making the nation the largest foreign investor, according to the Iskandar Regional Development Authority. The zone is almost three times the size of New York City, while Singapore, with 5.3 million inhabitants, is smaller than the U.S. metropolitan area.

“The wealth they have in Singapore could certainly benefit Malaysia as well, and Malaysia’s hinterland will benefit Singapore,” Najib said in an interview in April. “I told Prime Minister Hsien Loong ‘I don’t mind, you can be the Manhattan, we’ll be New Jersey. But we’ll prosper together.’”

UEM Land (ULHB), based in Kuala Lumpur, is the biggest landowner in the Iskandar region, according to brokerages Hwang DBS Vickers Research Sdn. and CIMB Group Holdings Bhd. (CIMB) The company still has 6,100 acres of land in the area to be developed, in addition to 3,500 acres outside Nusajaya, Wan Abdullah said.

The company, 65 percent owned by Khazanah Nasional Bhd. (ULHB), Malaysia’s state-investment company, is overseeing the development of Nusajaya, one of five zones in Iskandar.

Price Surge
Selling prices per square foot for new condominiums developed by UEM Land in Nusajaya have risen from 310 ringgit in 2009 to 480 ringgit in 2011 and 800 ringgit in November, Wan Abdullah said, citing past examples of several key projects.

Investors are starting to pay attention. UEM Land has soared 59 percent this year, outperforming a 4.6 percent advance in the benchmark FTSE Bursa Malaysia KLCI Index and giving the stock the biggest gain on the 30-member stock gauge.

The stock rose 2.5 percent to close at 3.34 ringgit in Kuala Lumpur today, the largest increase in a week.

Eleven of 19 analysts tracked by Bloomberg recommend buying the stock, with five calling for a hold and three saying sell.

This year is “absolutely” the right time to sell real estate in Iskandar, said Terence Wong, an analyst at CIMB with the equivalent of a buy rating on UEM Land.

“This year is better than any other year,” Wong said in a telephone interview on May 23. “The corridor is getting a lot of media attention, if you look at the press it’s coming out practically every day. Sales have been strong for any launches that have taken place.”

‘All-Time High’
Developers including UEM Land (ULHB) are set to benefit from Najib’s election victory earlier this month that may spur more infrastructure spending, according to Bank of America Corp.’s Merrill Lynch unit. The win gave the premier a mandate to continue promoting an economic transformation program aimed at drawing $444 billion of private-sector led investments this decade, including an oil and gas hub around the Iskandar area.

“There was always this suspicion that if Singapore doesn’t accept, or doesn’t play along with all possibilities that Iskandar is presenting, then the Iskandar story will not fly as high,” Wan Abdullah said. “What is evident in the last year, two years maybe, is the strengthening of the relationship. I’d say the Malaysia and Singapore relationship is at an all-time high.”

 

[xxkiwi]

As highlighted above, buying now at below rm800 psf is the way to go, no wonder so hot over at those new launches. More to come, and prices will increase for sure.

 

[shctaw]

Even at RM800 psf, the choice are very limited.

Good luck to those late comers.

As highlighted above, buying now at below rm800 psf is the way to go, no wonder so hot over at those new launches. More to come, and prices will increase for sure.

 

[xxkiwi]

Even at RM800 psf, the choice are very limited.

Good luck to those late comers.

With Meridin and Iskandar Residences doing very well in their sales, heard that prices for balance units will be up.
For the medini area, heard alot saying new launches will move psf upwards, so lets see D'Prestine and Afiniti (these are said to be long qeue list about 1k psf), ZhuoYuan Iskandar and Last tower of MediniSignature (these should be more then rm800 psf). So I hear... anyone can confirm?

 

[RedsYNWA]

Despite the recent condo craze in Iskandar, I still belive that freehold landed near to the CIQs are a better bet over the long run. This is due to Singaporeans' dreams of owning freehold landed which they cant achieve in SG, and the locals' general preference for landed.

A significant price difference remains betw freehold landed in SG/KL & JB, but the condo gap is narrowing too fast for my comfort....This is just my personal opinion of course....hehe

 

[Skooz]

Despite the recent condo craze in Iskandar, I still belive that freehold landed near to the CIQs are a better bet over the long run. This is due to Singaporeans' dreams of owning freehold landed which they cant achieve in SG, and the locals' general preference .
http://sg.news.yahoo.com/blogs/property-blog/era-governance-iskandar-malaysia-141223924.html

more reason to upbeat .

 

[OzRick]

D'Prestine and Afiniti (these are said to be long qeue list about 1k psf), ZhuoYuan Iskandar and Last tower of MediniSignature (these should be more then rm800 psf). So I hear... anyone can confirm?

Got an email from Afiniti marketing agent that it will be launch on 8 June. Priced from 850 to 950RM psf. There are still a few (big) units in Tower 1 of Medini Signature from 630RM psf upwards available from the developer.

 

[sammyboy168]

Hi to all the bro here,

How to check the profile of a new developer?

How do you actually check a developer that he has land title to the project he is selling?

Nowadays many project coming up, have to be careful man..

Thanks.

 

[wuqi256]

So far quite interesting, didn't know the take up rate was so good for the project, of the units passed to the team, only left with a few.
Some launches, i asked agent friends to take part in but kind of get rejected as business was too good for them. Wife told me for sure i will
get rejected as personal pride may stand too much in the way and i guess she was right. Still i had to try for old times sake.

Got invited to take part in a new launch, good package but need 200 units in order to get the best pricing as one company will take 60%
(i declined to take the offer for 60% as i wanted to grow with this and not be too ambitious)

This is a complete new developer but lots of potential given that it is in a golf resort and done as a part of a bulk purchase deal(BPD),
and it has DIBS so to be, it is safer. What matters is the sincerity, commitment and financial prowess of the developer and after the few
meetings, its looking good since the location is pretty amazing. Going to scout out and check it out for myself this weekend on a 4x4.
Before i get the teams started, i need to do my due diligence first so planned and got a couple of 4x4s.

Friends and especially relatives who didn't know anything laughed at me, saying i am now downgraded to a contractor. Perhaps to them,
i will never be anything more than that.

Wife told me, i am really suited for this line but lets see as it is early days yet. Need to get a team started on this as collaterals, banners,
etc need to be done.

 

[shctaw]

Well done Wuqi.
Let your relatives be, they will know who is the smart guy in the future.

When they thought you are renovating others bungalow which later they find up is your home, they will think of you different.

My relative always tease me and call me "大头家来了＂ during Chinese New Year.

 

[sillysinky]

Well done Wuqi. It's a natural progression for you i guess. Is there any possibility for me to join in this group buy ? As I could not pm you, would you mind to pm me ? Thanks in advance

So far quite interesting, didn't know the take up rate was so good for the project, of the units passed to the team, only left with a few.
Some launches, i asked agent friends to take part in but kind of get rejected as business was too good for them. Wife told me for sure i will
get rejected as personal pride may stand too much in the way and i guess she was right. Still i had to try for old times sake.

Got invited to take part in a new launch, good package but need 200 units in order to get the best pricing as one company will take 60%
(i declined to take the offer for 60% as i wanted to grow with this and not be too ambitious)

This is a complete new developer but lots of potential given that it is in a golf resort and done as a part of a bulk purchase deal(BPD),
and it has DIBS so to be, it is safer. What matters is the sincerity, commitment and financial prowess of the developer and after the few
meetings, its looking good since the location is pretty amazing. Going to scout out and check it out for myself this weekend on a 4x4.
Before i get the teams started, i need to do my due diligence first so planned and got a couple of 4x4s.

Friends and especially relatives who didn't know anything laughed at me, saying i am now downgraded to a contractor. Perhaps to them,
i will never be anything more than that.

Wife told me, i am really suited for this line but lets see as it is early days yet. Need to get a team started on this as collaterals, banners,
etc need to be done.

 

[Fire3]

Hi Wuqi, wish to enquire how could one join your team ? Would greatly appreciate it .Thanks

So far quite interesting, didn't know the take up rate was so good for the project, of the units passed to the team, only left with a few.
Some launches, i asked agent friends to take part in but kind of get rejected as business was too good for them. Wife told me for sure i will
get rejected as personal pride may stand too much in the way and i guess she was right. Still i had to try for old times sake.

Got invited to take part in a new launch, good package but need 200 units in order to get the best pricing as one company will take 60%
(i declined to take the offer for 60% as i wanted to grow with this and not be too ambitious)

This is a complete new developer but lots of potential given that it is in a golf resort and done as a part of a bulk purchase deal(BPD),
and it has DIBS so to be, it is safer. What matters is the sincerity, commitment and financial prowess of the developer and after the few
meetings, its looking good since the location is pretty amazing. Going to scout out and check it out for myself this weekend on a 4x4.
Before i get the teams started, i need to do my due diligence first so planned and got a couple of 4x4s.

Friends and especially relatives who didn't know anything laughed at me, saying i am now downgraded to a contractor. Perhaps to them,
i will never be anything more than that.

Wife told me, i am really suited for this line but lets see as it is early days yet. Need to get a team started on this as collaterals, banners,
etc need to be done.

 

[wuqi256]

Well done Wuqi. It's a natural progression for you i guess. Is there any possibility for me to join in this group buy ? As I could not pm you, would you mind to pm me ? Thanks in advance

Thanks, finalizing deals. Very happy to deal with some of the developers. Managed to either squeeze rebates or more car park lots for the buyers and it was an interesting process as i find i added a little value at least. No issue with joining group buy.

Got pretty good discounts though, so in the end, went ahead and bought one at well. Just completed a group buy with a small group so resting a bit first since i still have my day & night job to do.

 

[sillysinky]

sounds really interesting well, pls pm me when you are well rested and a more free, of course your day/night job comes first. Someone once told me "A busy man is a happy man"
thanks.

Thanks, finalizing deals. Very happy to deal with some of the developers. Managed to either squeeze rebates or more car park lots for the buyers and it was an interesting process as i find i added a little value at least. No issue with joining group buy.

Got pretty good discounts though, so in the end, went ahead and bought one at well. Just completed a group buy with a small group so resting a bit first since i still have my day & night job to do.

 

[potter]

So far quite interesting, didn't know the take up rate was so good for the project, of the units passed to the team, only left with a few.
Some launches, i asked agent friends to take part in but kind of get rejected as business was too good for them. Wife told me for sure i will
get rejected as personal pride may stand too much in the way and i guess she was right. Still i had to try for old times sake.

Got invited to take part in a new launch, good package but need 200 units in order to get the best pricing as one company will take 60%
(i declined to take the offer for 60% as i wanted to grow with this and not be too ambitious)

This is a complete new developer but lots of potential given that it is in a golf resort and done as a part of a bulk purchase deal(BPD),
and it has DIBS so to be, it is safer. What matters is the sincerity, commitment and financial prowess of the developer and after the few
meetings, its looking good since the location is pretty amazing. Going to scout out and check it out for myself this weekend on a 4x4.
Before i get the teams started, i need to do my due diligence first so planned and got a couple of 4x4s.

Friends and especially relatives who didn't know anything laughed at me, saying i am now downgraded to a contractor. Perhaps to them,
i will never be anything more than that.

Wife told me, i am really suited for this line but lets see as it is early days yet. Need to get a team started on this as collaterals, banners,
etc need to be done.

wuqi ke ke, em.. i like new adventure, count me in to see see look look, then buy buy..

 

[rosnyus]

group buy? sounds exciting!

 

[wuqi256]

Well done Wuqi.
Let your relatives be, they will know who is the smart guy in the future.

When they thought you are renovating others bungalow which later they find up is your home, they will think of you different.

My relative always tease me and call me "大头家来了＂ during Chinese New Year.

It is sad but true. You are the tow kay, i am still just working for others and making sure my family and staff don't starve especially the staff in education since i committed to the parents to carry on mission no matter even if the school continue to lose money.

Thanks sir, somehow associates, friends and complete strangers have more faith in me than them. I have had 2 friends who bought properties in Senai without ever seeing it or even the pictures. Seriously, one day while i was bringing them to the JPO, then i realised and offered to show him the place. He was full of pride when he
saw the place as i guess he didn't put the scale of it together.

Recently in the car i just drove home, i saw a Malay auntie struggling and stopped to offer her a ride. She declined as she saw my car
was brand new and she had m&d on her sarong but i didn't mind since cars are just tools. Cars are just tools, this is what a very young
but really learned bro taught me as he used his E class, bashing readily through the bush in ways that would panic most car owners.

Sent her back to the Golf East. Quite a few times already, they just readily enter my car and i sent them back.
I did that back in Singapore last time when a few folks stopped my car at the Seletar dam and i sent their girlfriends out to the MRT (their bicycle broke)

The most memorable one was when i was doing a project and there was a very long road, an old lady was carrying a child, slung over her shoulder as if the child was sick or dead. I felt serious sadness and couldn't continue driving. I stopped, surprising the business folks. Even though i was sure my business associates were a little unhappy, i asked my good pal to ask her in Malay and she said her child was disabled and needed to see the doctor.

Gave her and the child a ride out immediately, thankfully it wasn't raining when i stopped and dropped her off at the store. I wished i could do more but she refused anymore assistance.

This is for returning all the kindness i received from the taxi, the lorry driver and van driver in my youth. People doing in menial jobs may have more compassion than most of us put together. I remembered their kindness until today.