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New developments to share
- Thread starter wuqi256
- Start date
Personally, each time I read all the positive reviews on Iskandar, they are merely stating the obvious. To me or some, it might be so so obvious but to the majority (be it Sporean or Msian) it is pretty much unproven and probably hearsay. IMHO, I didnt think anyone is creating too much hot air and neither do I believe we are on thin air still.....If you have bought a few property some two or three years ago like Wuqi did, dont you think it is really hot hot air now...
Hi graveyard,
You're assuming that target buyers for matex are mainly those who are not driving? I'm not quite sure how far Matex is from City Square. But judging from the time taken for me to drive to city square mall as compared to jalan dato abdullah tahir where sky 88 is located, it took me a shorter time to reach jalan dato abdullah tahir. I believe that sky 88 is just as appealing to those who commute to work in singapore. And I have to agree with some of the bros in this forum that having ciq nearby may not be dat great of an appeal especially to those who drive. No doubt City Square Mall being near Matex is an important factor but I believe that Jalan Dato Abdullah Tahir will be a shopping belt in time to come.
Those who are vested in Sky 88 (like me) would have considered the presence of the car wash shops as a deterrent. And from my sources, most of the car wash shops, if not all, will be relocated. In fact, there have been a few transactions involving the sale of commercial lands where many of these car wash shops are located in 2012 although I do not know who these buyers are. I may be wrong abt Sky 88 but that is the risk I'm willing to take. My friends and family from KL spoke highly of SP Setia.
And putting myself in the shoes of a retail or F&B investor, wouldn't it be great to open up a F&B or retail outlet in the vicinity of an iconic and the tallest condo/building in johor bahru flanked by Twin Galaxy and surrounded by other skyscrapers? And btw, Zon hotel, Summerplace and Skysuites are nowhere near Setia 88. Zon Hotel is in Stulang Laut (been there many times) and I believe Summerplace and Skysuites are closer to CIQ than Setia 88.
Dun get me wrong. I have nothing against Matex. It is in a prime location and UM Land is a well-known developer. And if I have the extra bullets, I would definitely get my hands on a unit in Matex. As for now, I'm contented with Sky 88.
Would it be a better investment to buy Rowsley shares as compared to a ppty in Johor now???
Rowsley is land owner cum developer!
Rowsley is land owner cum developer!
Imho, share performance is linked to the Company's performance and future growth/earnings while the property you bought is specific to that location and that location's future growth prospects/plans.
So if for example the Company fully develops its landbank in Johor and runs out of development plans already, it will target other areas and may not necessarily be able to replicate the success. Whereas the property you bought may continue to growth as the area becomes more popular/developed. Got some correlation but not 100%. Plus rowsley is a holding company dealing with other businesses. Its Johor foray may succeed but if it fails in its other businesses, this may drag down its share performance.
Rowsley will sell all businesses.
Only business will be RSP architects. Land owner n developer. I want to buy another landed but prices seems so ex now... So thinking whether to put the funds into rowsley
I was going to comment a few days ago that its a sell signal... Developers will make all the money from this iskandar euphoria and laugh their way to the bank.
Only time will tell what will happen. But to buy in 2013 have to be extra careful. If own stay still ok.
Only time will tell what will happen. But to buy in 2013 have to be extra careful. If own stay still ok.
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Hi graveyard,
You're assuming that target buyers for matex are mainly those who are not driving? I'm not quite sure how far Matex is from City Square. But judging from the time taken for me to drive to city square mall as compared to jalan dato abdullah tahir where sky 88 is located, it took me a shorter time to reach jalan dato abdullah tahir. I believe that sky 88 is just as appealing to those who commute to work in singapore. And I have to agree with some of the bros in this forum that having ciq nearby may not be dat great of an appeal especially to those who drive. No doubt City Square Mall being near Matex is an important factor but I believe that Jalan Dato Abdullah Tahir will be a shopping belt in time to come.
Those who are vested in Sky 88 (like me) would have considered the presence of the car wash shops as a deterrent. And from my sources, most of the car wash shops, if not all, will be relocated. In fact, there have been a few transactions involving the sale of commercial lands where many of these car wash shops are located in 2012 although I do not know who these buyers are. I may be wrong abt Sky 88 but that is the risk I'm willing to take. My friends and family from KL spoke highly of SP Setia.
And putting myself in the shoes of a retail or F&B investor, wouldn't it be great to open up a F&B or retail outlet in the vicinity of an iconic and the tallest condo/building in johor bahru flanked by Twin Galaxy and surrounded by other skyscrapers? And btw, Zon hotel, Summerplace and Skysuites are nowhere near Setia 88. Zon Hotel is in Stulang Laut (been there many times) and I believe Summerplace and Skysuites are closer to CIQ than Setia 88.
Dun get me wrong. I have nothing against Matex. It is in a prime location and UM Land is a well-known developer. And if I have the extra bullets, I would definitely get my hands on a unit in Matex. As for now, I'm contented with Sky 88.
Hi Metaphor
Congrats on your purchase and i believe the latest pricing of the last Sky88 tower should delight you as you would have seen a good paper gain.
Thats right, i am assuming Matex would appeal to non drivers. And i am also assuming buyers of these city condos are primarily attracted to the proposed RTS. Actually in my opinion, if you drive, the appeal of a city condo is diminished to a certain extent. Many tamans like permas jaya and bukit indah are well linked to the city via major highways and seriously it is far cheaper to get properties (condos or landed)in these areas. Of course in makign this statement, i ignore the fact that some people prefer staying in city for various factors such as prestige
Yes SP Setia is reputable, judging from the success it enjoys with developing bukit indah township and its property venture in Spore
Call me myopic but i tend to believe more what i see now. the RTS is probably an exception .. it may not materialize but the potential benefit if the plan comes to fruitation is too attractive to be disregarded, and i believe most of city condo investors are putting this high on their radar
Right now, when i go JB, i see the newly renovated City Square with posh shops. When i go to Jalan Dato Abdullah Tahir, i see the carwash shops and mamak stalls. I heard of the plan to transform the area into a shopping district. Only time will tell whether it will happen ..as with the RTS.
Sky88 is iconic and the artist impression is indeed impressive .. having said that, i was just putting down my thought process of comparing Matex and Sky88 in response to the Q posed by one of the forumer. Since both are city condos in Zone A of Iskandar and if you take off the specific comparison btw the 2, investors like you and me are on the same boat and we crash or ride the waves together
I think many locals will still have a local car when they stay there. Think its unlikely u can rent to a Singaporean. matex not having car park might be an issue. Btw, when u go to jln waf at night, what do u see?
And the big plans for zone a is turning it into a cultural and heritage city. Been trying to interpret it.. It didn't sound too exciting.
Anyway I Think this discussion should be at the 88 or matex thread.
And the big plans for zone a is turning it into a cultural and heritage city. Been trying to interpret it.. It didn't sound too exciting.
Anyway I Think this discussion should be at the 88 or matex thread.
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Buy both.
It may end well for both.
You may find both selling same price in 2013-2014.
By then all this talk on Sky 88 and Matex will be irrelevant.
It is like picking one from a twin.
Personally I prefer Matex location as it remind me of a trendy area.
Sky 88 will be great for playboy. As it is iconic any girls will fall for it.
its more for flip or own stay (if RTS works out), locals who are working in msia are not likely to rent these condos as they are used to staying in landed. So the car park issue is not a major one - if you drive, just pay like season parking. you usually dont get your own carpark lot on a commercial title.
Sporeans/foreigners will be target potential buyers - still affordable compared to SG properties.
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Like you? haa not everyone has arsenals and ammunition like you and also it pays to be prudent and cautious when it comes to buying msia property .. but yeah if you can afford, why not? buy both
Yes, I will start to market my SPH units when they are completed and furnished. Will book one of my 4 units as display showroom for first month so that potential investors can see, touch and visualize better. I am a firm believer of how much difference "staging" can make to the price of our units. Should be ready by Q1 2014.
For investing, I feel it's important to take profit on the first property and reinvest. For non-cash rich but relatively young investors, the advantage of getting a long tenure housing loan whilst the banks consider you to be "young" is important. I don't have the bullets to buy 4 units of anything, let alone Somerset.
Will still be vested in Iskandar, unless I wanna move to down under.
Will still be vested in Iskandar, unless I wanna move to down under.
Catalytic projects to spur on UEM Land
Your window to Malaysia
Monday, 31 December 2012
Font-size: A | A | A
by Ben Shane Lim of theedgemalaysia.com on Sunday, 30 December 2012 16:00
IN just two months, UEM Land Holdings Bhd has announced three important deals that are poised to be catalysts for its Nusajaya development in southern Johor.
Having signed an agreement with Singapore's Ascendas Group in late October to develop a 519-acre parcel with a gross development value (GDV) of RM3.7 billion, the group last week tied up with Singapore billionaire Peter Lim to develop the Motorsports City project worth RM3.5 billion. This was followed by another deal with China Mall Holdings to build a trade centre that caters for Chinese merchants, the cost of which was not disclosed.
UEM Land's share price received a boost from the Ascendas deal in late October, rebounding from a one-year low of about RM1.60 to as high as RM2.25. But the two land deals last week did not see the counter go any higher. It closed at RM2.15 last Friday, giving the company a market capitalisation of RM9.26 billion. YTD, the stock is still down about 9.7% amid weak market sentiment pending the upcoming general election.
Investors are still on the sidelines, although analysts and fund managers are optimistic that UEM Land will further unlock and realise the value of its massive landbank in Johor — about 5,300 acres in Nusajaya, which is part of Iskandar Malaysia, and another 1,200 acres elsewhere.
As the group is seen more as a landbank company instead of a developer, analysts say more such deals on top of those signed in recent months will build a strong case for an appreciation in its share price. This is backed by a further re-rating of its revised net asset value (RNAV), which is now between RM3.31 and RM3.38 per share.
"Individually, these announcements are not game changers. But as a whole, they will create value for Nusajaya and attract people to live there," says an analyst with a bank-backed research house.
Key to re-rating UEM Land's RNAV is the expansion of the population in Nusajaya, which will drive up demand for its landbank. However, property watchers say simply pumping a lot of money into a development is no guarantee that a huge number of people will move there. For example, Putrajaya has experienced slow population growth despite the amount of money that was invested in it.
But unlike Putrajaya, Nusajaya is near Singapore and thus far, UEM Land's launches close to the island republic have been quite successful. At end-November, the company launched Teega @ Puteri Harbour, which saw a healthy take-up rate of over 80% for its 900 serviced apartments that were sold at an average price of RM700 psf — comparable to prices in Petaling Jaya.
"You can't really compare Puteri Harbour with Gerbang Nusajaya because it is much closer to Singapore and is in a premium location. However, it does show that there is a lot of demand for property in the area," says an analyst.
The launch only involved the first two of three 35-storey blocks in the development, which has an estimated GDV of RM871 million. The launch was offered to UEM Land's repeat customers and an estimated 20% of the buyers were Singaporeans.
"Nusajaya is at a turning point. It is beginning to attract investor interest. But it is going to need more life and people. It will take time, but the recent announcements by UEM Land show that it is on the right track," says Public Bank Research analyst Tan Siang Hing.
Meanwhile, the 30:70 joint venture between UEM Land and Peter Lim's FASTrack Autosports Pte Ltd for the Motorsports City project has generated much attention. Apart from a 4.5km racetrack, Motorsports City will boast an integrated mixed-use development to house service centres, car showrooms, a spare parts and accessories hub and an automotive upgrade
"One thing that Malaysia has, which Singapore doesn't, is land. That is why we can afford to build something like this over here. This is going to target rich Singaporeans who come here if they want to take their Ferraris out for a spin," says Tan.
Besides the unique offering of a test track, which has been dubbed the Nurburging of Iskandar Malaysia, Motorsports City will also create employment, which will be key to Nusajaya's success, he adds.
The motorsport hub is going to be built on a 270-acre parcel, which will be sold to the JV for RM223.5 million or RM19 psf. While the valuation of the land appears fair, analysts say the price is unlikely to be a good benchmark of the value of UEM Land's undeveloped 4,500 acres in Nusajaya.
"Because it isn't a disposal of land but was sold as a catalytic development for Nusajaya," says Hong Leong Investment Bank Research's Sean Lim.
Also, as Tan points out, the valuation of the land will vary according to the terrain.
As a comparison, UEM Land is selling 519 acres of industrial land to its 40:60 joint venture with Ascendas at an average price of RM18 psf. An analyst points out that this land is for industrial use while the land for Motorsports City is for commercial use and is hence worth more.
UEM Land has also inked a memorandum of understanding with Chinamall Holdings Pte Ltd to cooperate on the proposed development of China Mall, a trade and exhibition centre in Gerbang Nusajaya.
Analysts say the MoU with Chinamall is still sketchy as it lacks details such as the land size involved and amount to be invested. However, the mall is said to be similar to Dubai's Dragonmart, the largest trading centre for Chinese products outside the republic. Dragonmart is 1.2km long and hosts 3,950 shops in 1.6 million sq ft of space.
"China Mall as a concept is a good idea as it will definitely create employment and attract people to Nusajaya. We will just have to wait and see if it materialises," says Tan.
"UEM Land is still the best Johor play among the property developers, so it will do well in the long run. However, there are a few hurdles it will need to overcome, one of which is to expand the population of Nusajaya while bringing in more catalytic developments," says an analyst.
Meanwhile, the group's sales have fallen short of its initially projected RM3 billion for 2012. "Last year, it booked about RM2.2 billion in sales. Excluding land disposals, property sales were around RM1.9 billion. This year, we expect sales to come in slightly short of last year's figure due to the delay of several launches," says the analyst.
However, for the full year ending Dec 31, 2012, UEM Land looks set to achieve a record high profit. For the nine months ended Sept 30, it posted a net profit of RM247.08 million, up 53.3% from RM161.15 million in the previous corresponding period.
Thus far, analysts have not been very generous in assigning their target prices for UEM Land. Those who refreshed their ratings after the signing of the agreements for Motorsports City and China Mall last week had target prices of RM2.06 to RM2.80, with the mean at RM2.41, according to Bloomberg.
"Post-election, we can expect a more robust share price performance, especially if UEM Land can maintain its current stream of news flow on Iskandar," says the analyst.
This story first appeared in The Edge weekly edition of Dec 10-16, 2012.
Your window to Malaysia
Monday, 31 December 2012
Font-size: A | A | A
by Ben Shane Lim of theedgemalaysia.com on Sunday, 30 December 2012 16:00
IN just two months, UEM Land Holdings Bhd has announced three important deals that are poised to be catalysts for its Nusajaya development in southern Johor.
Having signed an agreement with Singapore's Ascendas Group in late October to develop a 519-acre parcel with a gross development value (GDV) of RM3.7 billion, the group last week tied up with Singapore billionaire Peter Lim to develop the Motorsports City project worth RM3.5 billion. This was followed by another deal with China Mall Holdings to build a trade centre that caters for Chinese merchants, the cost of which was not disclosed.
UEM Land's share price received a boost from the Ascendas deal in late October, rebounding from a one-year low of about RM1.60 to as high as RM2.25. But the two land deals last week did not see the counter go any higher. It closed at RM2.15 last Friday, giving the company a market capitalisation of RM9.26 billion. YTD, the stock is still down about 9.7% amid weak market sentiment pending the upcoming general election.
Investors are still on the sidelines, although analysts and fund managers are optimistic that UEM Land will further unlock and realise the value of its massive landbank in Johor — about 5,300 acres in Nusajaya, which is part of Iskandar Malaysia, and another 1,200 acres elsewhere.
As the group is seen more as a landbank company instead of a developer, analysts say more such deals on top of those signed in recent months will build a strong case for an appreciation in its share price. This is backed by a further re-rating of its revised net asset value (RNAV), which is now between RM3.31 and RM3.38 per share.
"Individually, these announcements are not game changers. But as a whole, they will create value for Nusajaya and attract people to live there," says an analyst with a bank-backed research house.
Key to re-rating UEM Land's RNAV is the expansion of the population in Nusajaya, which will drive up demand for its landbank. However, property watchers say simply pumping a lot of money into a development is no guarantee that a huge number of people will move there. For example, Putrajaya has experienced slow population growth despite the amount of money that was invested in it.
But unlike Putrajaya, Nusajaya is near Singapore and thus far, UEM Land's launches close to the island republic have been quite successful. At end-November, the company launched Teega @ Puteri Harbour, which saw a healthy take-up rate of over 80% for its 900 serviced apartments that were sold at an average price of RM700 psf — comparable to prices in Petaling Jaya.
"You can't really compare Puteri Harbour with Gerbang Nusajaya because it is much closer to Singapore and is in a premium location. However, it does show that there is a lot of demand for property in the area," says an analyst.
The launch only involved the first two of three 35-storey blocks in the development, which has an estimated GDV of RM871 million. The launch was offered to UEM Land's repeat customers and an estimated 20% of the buyers were Singaporeans.
"Nusajaya is at a turning point. It is beginning to attract investor interest. But it is going to need more life and people. It will take time, but the recent announcements by UEM Land show that it is on the right track," says Public Bank Research analyst Tan Siang Hing.
Meanwhile, the 30:70 joint venture between UEM Land and Peter Lim's FASTrack Autosports Pte Ltd for the Motorsports City project has generated much attention. Apart from a 4.5km racetrack, Motorsports City will boast an integrated mixed-use development to house service centres, car showrooms, a spare parts and accessories hub and an automotive upgrade
"One thing that Malaysia has, which Singapore doesn't, is land. That is why we can afford to build something like this over here. This is going to target rich Singaporeans who come here if they want to take their Ferraris out for a spin," says Tan.
Besides the unique offering of a test track, which has been dubbed the Nurburging of Iskandar Malaysia, Motorsports City will also create employment, which will be key to Nusajaya's success, he adds.
The motorsport hub is going to be built on a 270-acre parcel, which will be sold to the JV for RM223.5 million or RM19 psf. While the valuation of the land appears fair, analysts say the price is unlikely to be a good benchmark of the value of UEM Land's undeveloped 4,500 acres in Nusajaya.
"Because it isn't a disposal of land but was sold as a catalytic development for Nusajaya," says Hong Leong Investment Bank Research's Sean Lim.
Also, as Tan points out, the valuation of the land will vary according to the terrain.
As a comparison, UEM Land is selling 519 acres of industrial land to its 40:60 joint venture with Ascendas at an average price of RM18 psf. An analyst points out that this land is for industrial use while the land for Motorsports City is for commercial use and is hence worth more.
UEM Land has also inked a memorandum of understanding with Chinamall Holdings Pte Ltd to cooperate on the proposed development of China Mall, a trade and exhibition centre in Gerbang Nusajaya.
Analysts say the MoU with Chinamall is still sketchy as it lacks details such as the land size involved and amount to be invested. However, the mall is said to be similar to Dubai's Dragonmart, the largest trading centre for Chinese products outside the republic. Dragonmart is 1.2km long and hosts 3,950 shops in 1.6 million sq ft of space.
"China Mall as a concept is a good idea as it will definitely create employment and attract people to Nusajaya. We will just have to wait and see if it materialises," says Tan.
"UEM Land is still the best Johor play among the property developers, so it will do well in the long run. However, there are a few hurdles it will need to overcome, one of which is to expand the population of Nusajaya while bringing in more catalytic developments," says an analyst.
Meanwhile, the group's sales have fallen short of its initially projected RM3 billion for 2012. "Last year, it booked about RM2.2 billion in sales. Excluding land disposals, property sales were around RM1.9 billion. This year, we expect sales to come in slightly short of last year's figure due to the delay of several launches," says the analyst.
However, for the full year ending Dec 31, 2012, UEM Land looks set to achieve a record high profit. For the nine months ended Sept 30, it posted a net profit of RM247.08 million, up 53.3% from RM161.15 million in the previous corresponding period.
Thus far, analysts have not been very generous in assigning their target prices for UEM Land. Those who refreshed their ratings after the signing of the agreements for Motorsports City and China Mall last week had target prices of RM2.06 to RM2.80, with the mean at RM2.41, according to Bloomberg.
"Post-election, we can expect a more robust share price performance, especially if UEM Land can maintain its current stream of news flow on Iskandar," says the analyst.
This story first appeared in The Edge weekly edition of Dec 10-16, 2012.
What is the difference between PutraJaya and Nusajaya?
Both are greenfield developments. Putrajaya is a new Administrative Center and so is Kota Iskandar. Tons of money had been poured into Putrajaya and it has been about 15 years since it first started. Is it really successful?
What is the difference between Cyberjaya and Educity?
Both had universities. Cyberjaya is touted to be IT Corridor, hence IBM, HSBC, Shell had their offices set up there. Condos are coming up but retails is not really there yet. Educity is sparely populated. Medini is suppose to support Educity population but the figures are not there yet.
Any thoughts for me to chew on during these holidays?
Both are greenfield developments. Putrajaya is a new Administrative Center and so is Kota Iskandar. Tons of money had been poured into Putrajaya and it has been about 15 years since it first started. Is it really successful?
What is the difference between Cyberjaya and Educity?
Both had universities. Cyberjaya is touted to be IT Corridor, hence IBM, HSBC, Shell had their offices set up there. Condos are coming up but retails is not really there yet. Educity is sparely populated. Medini is suppose to support Educity population but the figures are not there yet.
Any thoughts for me to chew on during these holidays?
In the midst of work so will keep this very brief:
One has only 1 government input and rest mainly private sector. The other has multiple government/countries input/involvement as well as private sectors.
Lessons learnt from Putrajaya is also used in Nusajaya, flexibility, etc are applied on a greater scale.
Royalty support is important in any development.
Proximity to continuing sources of demand for the infrastructure
Take up rate for the Unis
Theme parks presence
Logistics and industrial support is also one of the driving factor
Sustainability is key as continual support is very important.
Despite my best efforts, someone still sold her semi-d back then for 350k and recently just commented to another mate that i didn't do my best to convince her to hold on to it. (She was the Malaysian expert who told me Iskandar properties will flop just like Putrajaya and then asked me if Iskandar was besides KL)
No one can convince anyone here, the only person who can do so is yourself. Until now, there are still lots who will not commit no matter what they see. Even if they can find 99% evidence to support but just 1% is needed to stop them in their tracks.
Do your own dilligence and listen to both the aye and nay sayers, then make your own informed decisions. Its always safer to be the naysayer so that one will not be laughed at (failure avoidance) or choose to do nothing (when in doubt.....) but from what little i know, few bears generally grow rich.
Of course, there are lots of dead bulls in this world as well but at least the bulls get to do their run and had their run in the sun.
Few ever remembers the bears for there are many but the few successful bulls will make their lasting mark on this world. Bill Gates and Steve Jobs as well as the folks who created HP, they were all "doomed" to fail by popular opinion/academic achievements yet they succeeded where all others fail. Some of those who doubted their efforts in the beginning may have ended up working for these people in the end.
The world has no time to remember those who never tried and took the safe route home.
Secondary School Maths Teacher circa 1994 -
Let us talk percentages. If you tried at least, at least you have 50% to succeed, your chances of achieving the minimum grade is 50/50. If you never tried and just hand in a blank sheet every time, your failure rate is nothing short of 100%.
Too many people handed in only blank sheets at the end of their lives, just the constant fear of failure doomed them to inaction, don't be one of them.
Words can really make or break a person.
Do your own dilligence and listen to both the aye and nay sayers, then make your own informed decisions. Its always safer to be the naysayer so that one will not be laughed at (failure avoidance) or choose to do nothing (when in doubt.....) but from what little i know, few bears generally grow rich.
Of course, there are lots of dead bulls in this world as well but at least the bulls get to do their run and had their run in the sun.
Few ever remembers the bears for there are many but the few successful bulls will make their lasting mark on this world. Bill Gates and Steve Jobs as well as the folks who created HP, they were all "doomed" to fail by popular opinion/academic achievements yet they succeeded where all others fail. Some of those who doubted their efforts in the beginning may have ended up working for these people in the end.
The world has no time to remember those who never tried and took the safe route home.
Secondary School Maths Teacher circa 1994 -
Let us talk percentages. If you tried at least, at least you have 50% to succeed, your chances of achieving the minimum grade is 50/50. If you never tried and just hand in a blank sheet every time, your failure rate is nothing short of 100%.
Too many people handed in only blank sheets at the end of their lives, just the constant fear of failure doomed them to inaction, don't be one of them.
Words can really make or break a person.
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