i'm sure he meant spectacle as in "watching a major car crash".
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Property News
- Thread starter FHBH12
- Start date
i'm sure he meant spectacle as in "watching a major car crash".
developers may build bigger landed but at 2m , foreigners will think twice since it's a lot of money ...equivalent to about S$770K. Can invest in Tokyo, UK or even SG . Not many locals can afford at 2m also. Demand will drop.
Re: Hong Kong's R&F Properties to unveil Johor project
Malaysia investment sometimes have to consider the sensitivities of the locals.
This sudden invasion by so many large scale foreign firms and foreigner is not likely to go down well. At the start they might like the transformation but if the locals are sidelined then come election time, it will be fireworks again.
The China developers are kinda smart in tying up with the sultan, at least the state govt cannot be accused of selling the southern entrance to the country to foreigners. It's the sultan decision.
Malaysia investment sometimes have to consider the sensitivities of the locals.
This sudden invasion by so many large scale foreign firms and foreigner is not likely to go down well. At the start they might like the transformation but if the locals are sidelined then come election time, it will be fireworks again.
The China developers are kinda smart in tying up with the sultan, at least the state govt cannot be accused of selling the southern entrance to the country to foreigners. It's the sultan decision.
It can go either way, but seriously I do not want to see things will not go south....:o
Is Malaysia's Iskandar losing its shine as a property hot spot?
Anita Gabriel
The Business Times
Thursday, Jun 26, 2014
Red speckles of danger have surfaced in Malaysia's hot zone Iskandar on the back of frenzied building by gungho developers from China, stirring some agitation over the sustainability of what was once a buoyant property scene in Malaysia's southern growth corridor.
Amid a housing slump back at home, China's real estate giants with great financial muscle and aptitude to finish projects in record time, are set to flood the Iskandar area with a huge supply of homes.
If anything, the plans are lofty, from a sweeping media blitz in Malaysia and Singapore to trumpet their project launches, to reclaiming large swathes of land to raise a man-made island on the Johor Strait, and building 15 towers of 35-storey apartments under a single project.
But the timing is starkly inopportune as Iskandar's property sector is in consolidation mode after ripping through record transaction volumes last year of RM30 billion (S$11.6 billion), up by a stomping 80 per cent from a year earlier.
Pounding further on that soft patch this year is a string of property curbs, particularly for foreigners, that turned bullish foreign buyers of properties there - the majority of whom are Singaporeans - a tad weary.
The signs are acutely evident.
Brisk sales for new property launches that made developers gleeful are faltering.
Nowhere is that clearer than in the case of Malaysian firm UEM Sunrise's luxurious 34-storey block Almas Suites in Puteri Harbour, launched last December and priced at the conservative end.
The project has so far drawn anaemic bookings of under 10 per cent, indeed somewhat heartbreaking for the developer who only a year earlier was euphoric that its high-end project, Teega, in the same area, was almost fully snapped up within the very first month that it was launched.
But now Iskandar, which last year turned Johor into Malaysia's sweetest property spot, outdoing Klang Valley and Penang with an over 20 per cent rise in property prices, faces another test - can it keep steady amid the mammoth projects that threaten to smother its space?
It's not just the pace of change that is unnerving, but also the type of change.
Land reclamation works have begun for a man-made island - this project is led by China's largest developer, Country Garden, and reportedly backed by the Johor Sultan - off Tuas, on the Malaysian side of the Johor Strait. Given the proximity, Singapore recently expressed concerns over possible transboundary impact and has sought more information on the project.
Iskandar, already beset by challenges, can ill-afford any potential geopolitical tension, particularly since its success so far is partly grounded on the warm relations between Malaysia and Singapore.
Outside Malaysia, Singapore is also quite possibly the project's biggest cheerleader, investment dollars being the benchmark.
The game-changing high-speed rail link from Kuala Lumpur to Singapore, which will no doubt sweeten Iskandar's proposition, is premised on this cosy rapport.
Malaysia needs to send a signal that developments in the area are being done in a controlled, measured and, where necessary, diplomatic tone.
For now, these comforting signs appear somewhat elusive.
If left unchecked, the overbuilding could lead to a glut, dampen asset values and leave real estate investors out in the cold.
If that happens, it could very well be an "I told you so" moment for investors and businesses that have painfully resisted the urge to step foot into Malaysia's booming southern state until there are convincing signs of long-term viability and sound planning.
This article by The Business Times was published in MyPaper, a free, bilingual newspaper published by Singapore Press Holdings.
http://news.asiaone.com/news/malaysia/malaysias-iskandar-losing-its-shine-property-hot-spot
Anita Gabriel
The Business Times
Thursday, Jun 26, 2014
Red speckles of danger have surfaced in Malaysia's hot zone Iskandar on the back of frenzied building by gungho developers from China, stirring some agitation over the sustainability of what was once a buoyant property scene in Malaysia's southern growth corridor.
Amid a housing slump back at home, China's real estate giants with great financial muscle and aptitude to finish projects in record time, are set to flood the Iskandar area with a huge supply of homes.
If anything, the plans are lofty, from a sweeping media blitz in Malaysia and Singapore to trumpet their project launches, to reclaiming large swathes of land to raise a man-made island on the Johor Strait, and building 15 towers of 35-storey apartments under a single project.
But the timing is starkly inopportune as Iskandar's property sector is in consolidation mode after ripping through record transaction volumes last year of RM30 billion (S$11.6 billion), up by a stomping 80 per cent from a year earlier.
Pounding further on that soft patch this year is a string of property curbs, particularly for foreigners, that turned bullish foreign buyers of properties there - the majority of whom are Singaporeans - a tad weary.
The signs are acutely evident.
Brisk sales for new property launches that made developers gleeful are faltering.
Nowhere is that clearer than in the case of Malaysian firm UEM Sunrise's luxurious 34-storey block Almas Suites in Puteri Harbour, launched last December and priced at the conservative end.
The project has so far drawn anaemic bookings of under 10 per cent, indeed somewhat heartbreaking for the developer who only a year earlier was euphoric that its high-end project, Teega, in the same area, was almost fully snapped up within the very first month that it was launched.
But now Iskandar, which last year turned Johor into Malaysia's sweetest property spot, outdoing Klang Valley and Penang with an over 20 per cent rise in property prices, faces another test - can it keep steady amid the mammoth projects that threaten to smother its space?
It's not just the pace of change that is unnerving, but also the type of change.
Land reclamation works have begun for a man-made island - this project is led by China's largest developer, Country Garden, and reportedly backed by the Johor Sultan - off Tuas, on the Malaysian side of the Johor Strait. Given the proximity, Singapore recently expressed concerns over possible transboundary impact and has sought more information on the project.
Iskandar, already beset by challenges, can ill-afford any potential geopolitical tension, particularly since its success so far is partly grounded on the warm relations between Malaysia and Singapore.
Outside Malaysia, Singapore is also quite possibly the project's biggest cheerleader, investment dollars being the benchmark.
The game-changing high-speed rail link from Kuala Lumpur to Singapore, which will no doubt sweeten Iskandar's proposition, is premised on this cosy rapport.
Malaysia needs to send a signal that developments in the area are being done in a controlled, measured and, where necessary, diplomatic tone.
For now, these comforting signs appear somewhat elusive.
If left unchecked, the overbuilding could lead to a glut, dampen asset values and leave real estate investors out in the cold.
If that happens, it could very well be an "I told you so" moment for investors and businesses that have painfully resisted the urge to step foot into Malaysia's booming southern state until there are convincing signs of long-term viability and sound planning.
This article by The Business Times was published in MyPaper, a free, bilingual newspaper published by Singapore Press Holdings.
http://news.asiaone.com/news/malaysia/malaysias-iskandar-losing-its-shine-property-hot-spot
always buy what the middle income locals are buying. 600k + + landed is a safe bet.
600k ++ foreigners cannot buy.
Guess foreigners can only play amongst themselves and rich locals.
Mah Sing: Strong property demand in H2
BY ZAIDI ISHAM ISMAIL - 28 JUNE 2014 @ 1:56 AM
KUALA LUMPUR: Mah Sing Group Bhd sees strong buying interest ahead of the Goods and Services Tax (GST) that will kickstart in April next year.
Group managing director and chief executive Tan Sri Leong Hoy Kum said Malaysians are rushing to buy properties as the prices will go up once the GST kicks in.
“We expect stronger buying momentum in the second half of the year with potential buyers expected to buy ahead of the GST as property prices are definitely going to rise after the GST is implemented due to higher input cost. Cost of raw materials will go up and I feel that homebuyers will make their decisions to buy properties by the second half of this year,” Leong said after Mah Sing’s annual general meeting, here, yesterday.
He, however, said this is not confined to Malaysia and is common in other countries ahead of their implementation of the GST.
Mah Sing aims to clinch RM3.6 billion worth of sales this year, compared with RM3 billion last year, riding on its good residential and commercial products and strong fundamentals.
“I think this target is achievable as we have already achieved about RM770 million worth of sales in the first quarter ended March this year and we expect the strong momentum in the second half of last year to continue this year.”
He added that the company’s residential and commercial products are also attractive, with 87 per cent of its houses priced at below RM1 million apiece at strategic locations with unique concepts.
The company has unbilled sales of some RM4.6 billion in its financial books. It is also eyeing markets in Australia, Indonesia and the United Kingdom.
http://www.nst.com.my/node/7190
BY ZAIDI ISHAM ISMAIL - 28 JUNE 2014 @ 1:56 AM
KUALA LUMPUR: Mah Sing Group Bhd sees strong buying interest ahead of the Goods and Services Tax (GST) that will kickstart in April next year.
Group managing director and chief executive Tan Sri Leong Hoy Kum said Malaysians are rushing to buy properties as the prices will go up once the GST kicks in.
“We expect stronger buying momentum in the second half of the year with potential buyers expected to buy ahead of the GST as property prices are definitely going to rise after the GST is implemented due to higher input cost. Cost of raw materials will go up and I feel that homebuyers will make their decisions to buy properties by the second half of this year,” Leong said after Mah Sing’s annual general meeting, here, yesterday.
He, however, said this is not confined to Malaysia and is common in other countries ahead of their implementation of the GST.
Mah Sing aims to clinch RM3.6 billion worth of sales this year, compared with RM3 billion last year, riding on its good residential and commercial products and strong fundamentals.
“I think this target is achievable as we have already achieved about RM770 million worth of sales in the first quarter ended March this year and we expect the strong momentum in the second half of last year to continue this year.”
He added that the company’s residential and commercial products are also attractive, with 87 per cent of its houses priced at below RM1 million apiece at strategic locations with unique concepts.
The company has unbilled sales of some RM4.6 billion in its financial books. It is also eyeing markets in Australia, Indonesia and the United Kingdom.
http://www.nst.com.my/node/7190
Greenland Group plans RM10bil projects in Iskandar
Jul 1, 2014
The Greenland Group is the latest developer from China to buy land for a sizeable property project in Johor’s coastal Danga Bay area, reported Starproperty.
The company plans to develop properties worth RM2.2bil in gross development value (GDV) and struck a deal to acquire 13.96 acres from Iskandar Waterfront Holdings Sdn Bhd (IWH) at a cost of RM600mil.
Last December, Hao Yuan Pte Ltd, a Singapore-based but China-owned firm, paid for 37 acres in Danga Bay while now the price works out to RM984 per sq ft – just below the record RM991 per sq ft.
This is Greenland’s maiden investment in Malaysia, for which it will form a joint venture with IWH to develop the land into an integrated project within five years.
The latest to feel the heat was Singapore’s Pacific Star Development Pte Ltd, which saw bookings for only 25% of the second phase of its condominium in Puteri Harbour.
The Shanghai-based Greenland, one of China’s largest state-owned enterprises, is understood to be eyeing a GDV in excess of RM10bil in Danga Bay by the time it wraps up several more transactions in the coming months.
According to industry executives, Greenland is set to finalise “very soon” the purchase of two more land parcels on the eastern corridor of Johor Baru near the Permas Jaya township, where Tropicana Corp Bhd is also a landowner.
However, in the previous news reports, Greenland was keen on acquiring around 60ha in Iskandar Malaysia.
Inclusive of the Greenland transaction, IWH has to-date inked 17 deals with local and foreign partners to develop properties worth RM127bil in GDV, providing a fillip to its ambitious plan of transforming the coastline of Johor bordering Singapore into a waterfront metropolis.
At least four other major China developers were in talks with IWH for mixed-use developments featuring waterfront properties, the company said in a statement.
“This massive influx of foreign direct investment is a boon for Malaysia and Johor because of the economic spillover and thousands of job opportunities that these projects will generate,” IWH managing director Tan Sri Lim Kang Hoo said.
The state-backed group has over the past few years snapped up real estate in major cities such as New York, Los Angeles, Sydney, London and South Korea. A delegation from Greenland had visited Malaysia in February to explore investment opportunities.
Other international property players which have secured a foothold in Danga Bay include Singapore’s Temasek Holdings Pte Ltd and CapitaLand Ltd, Australia’s Walker Group and China’s Country Garden Holdings Ltd and Hao Yuan, while local firms with ongoing developments include Tropicana and the Brunsfield Group.
Recently, Maybank IB Research expressed concern about Iskandar Malaysia’s medium-term prospects, saying the massive incoming supply of residential and retail properties in hotspots like Danga Bay and Nusajaya could be harmful to asset values.
“Judging from the planned launches (serviced apartments, hotels, office and retail spaces) by Country Garden, Hao Yuan, Guangzhou R&F Properties Co Ltd, CapitaLand and Greenland Group, the hotspot areas, ie, Danga Bay and Tanjung Puteri, could be flooded with an enormous supply of high-rise mixed development projects, inducing price volatility,” it said in a client note last week.
V Sivadas, PA International Property Consultants Sdn Bhd executive director said buyers were in “transition mode” due to changes in state policy and foreign ownership.
Image Source: freemalaysiatoday.com
Farah Wahida, Editor of PropertyGuru, edited this story. To contact her about this or other stories email [email protected]
http://www.propertyguru.com.my/prop...land-group-plans-rm10bil-projects-in-iskandar
Jul 1, 2014
The Greenland Group is the latest developer from China to buy land for a sizeable property project in Johor’s coastal Danga Bay area, reported Starproperty.
The company plans to develop properties worth RM2.2bil in gross development value (GDV) and struck a deal to acquire 13.96 acres from Iskandar Waterfront Holdings Sdn Bhd (IWH) at a cost of RM600mil.
Last December, Hao Yuan Pte Ltd, a Singapore-based but China-owned firm, paid for 37 acres in Danga Bay while now the price works out to RM984 per sq ft – just below the record RM991 per sq ft.
This is Greenland’s maiden investment in Malaysia, for which it will form a joint venture with IWH to develop the land into an integrated project within five years.
The latest to feel the heat was Singapore’s Pacific Star Development Pte Ltd, which saw bookings for only 25% of the second phase of its condominium in Puteri Harbour.
The Shanghai-based Greenland, one of China’s largest state-owned enterprises, is understood to be eyeing a GDV in excess of RM10bil in Danga Bay by the time it wraps up several more transactions in the coming months.
According to industry executives, Greenland is set to finalise “very soon” the purchase of two more land parcels on the eastern corridor of Johor Baru near the Permas Jaya township, where Tropicana Corp Bhd is also a landowner.
However, in the previous news reports, Greenland was keen on acquiring around 60ha in Iskandar Malaysia.
Inclusive of the Greenland transaction, IWH has to-date inked 17 deals with local and foreign partners to develop properties worth RM127bil in GDV, providing a fillip to its ambitious plan of transforming the coastline of Johor bordering Singapore into a waterfront metropolis.
At least four other major China developers were in talks with IWH for mixed-use developments featuring waterfront properties, the company said in a statement.
“This massive influx of foreign direct investment is a boon for Malaysia and Johor because of the economic spillover and thousands of job opportunities that these projects will generate,” IWH managing director Tan Sri Lim Kang Hoo said.
The state-backed group has over the past few years snapped up real estate in major cities such as New York, Los Angeles, Sydney, London and South Korea. A delegation from Greenland had visited Malaysia in February to explore investment opportunities.
Other international property players which have secured a foothold in Danga Bay include Singapore’s Temasek Holdings Pte Ltd and CapitaLand Ltd, Australia’s Walker Group and China’s Country Garden Holdings Ltd and Hao Yuan, while local firms with ongoing developments include Tropicana and the Brunsfield Group.
Recently, Maybank IB Research expressed concern about Iskandar Malaysia’s medium-term prospects, saying the massive incoming supply of residential and retail properties in hotspots like Danga Bay and Nusajaya could be harmful to asset values.
“Judging from the planned launches (serviced apartments, hotels, office and retail spaces) by Country Garden, Hao Yuan, Guangzhou R&F Properties Co Ltd, CapitaLand and Greenland Group, the hotspot areas, ie, Danga Bay and Tanjung Puteri, could be flooded with an enormous supply of high-rise mixed development projects, inducing price volatility,” it said in a client note last week.
V Sivadas, PA International Property Consultants Sdn Bhd executive director said buyers were in “transition mode” due to changes in state policy and foreign ownership.
Image Source: freemalaysiatoday.com
Farah Wahida, Editor of PropertyGuru, edited this story. To contact her about this or other stories email [email protected]
http://www.propertyguru.com.my/prop...land-group-plans-rm10bil-projects-in-iskandar
all these mega projects spell boom time for the construction indsutry and related activities in jb. locals will become richer. they will go buy newer landed houses, like in tebrau, kempas, tampoi, bi, skudai.
Property agents, lawyers, bankers, contractors all will huat big time... This will attract more Malaysians from other states to work in JB and SG.
The china big players are going to beautify jb town in full throttle...swee!!
Shall see if local developers pull up their short or not..
Looking forward
JB town will be much better than Shenzhen.Similar threads
