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Puteri Harbour Community
- Thread starter Qube3
- Start date
Iskandar Investment mulls asset sales
Iskandar Investment Bhd (IIB) is mulling the possibility of selling some of its operating assets in Johor to help fund the next stage of its massive development plan in the area.
Business Times was told that both local and European fund managers, and asset management firms have sounded out IIB on possible sales of the assets.
In the event IIB does indeed sell some of the assets, it would be a first time for the company, which is 60 per cent owned by Khazanah Nasional Bhd.
The other shareholders of IIB, which was set up in 2006 as a strategic developer of catalytic projects in Iskandar Malaysia, are Employees Provident Fund and Kumpulan Prasarana Rakyat Johor Bhd, who each owns a 20 per cent stake in the company.
Analysts point out that the landscape in Johor is changing very quickly, with another Kumpulan Prasarana Rakyat-linked company also deciding to directly sell land to a third party, instead of entering into a joint venture.
A week ago, Iskandar Waterfront Holdings Sdn Bhd, a 40 per cent unit of Kumpulan Prasarana Rakyat, inked a deal to sell some 55ha of land for nearly RM900 million to Hong Kong-listed Country Garden Holdings.
Iskandar Waterfront is 60 per cent controlled by tycoon Tan Sri Lim Kang Hoo.
"They (the funds and asset management companies) are looking at good-yielding assets within the four clusters that we are developing in the Iskandar region. They asked us if we were selling and we are discussing with them now.
"What we would get is immediate sale of our properties, which will be quite useful to fund our next catalytic projects. The next stage of growth for IIB would be self-driven," IIB president and chief executive officer Datuk Syed Mohamed Syed Ibrahim told Business Times in an interview.
IIB is developing four clusters - education, driven by Educity; leisure and tourism, led by LegoLand; healthcare and wellness, with Gleneagles Medini Hospital being the key driver; and creative development, with Pinewood Iskandar Malaysia Studios as the catalytic project.
Iskandar Malaysia, one of the country's core special economic zone, is seeking to be self-sufficient in its future capital expenditure.
The Iskandar project has thus brought in committed investments to the tune of RM105.13 billion over the past six years.
"All the while we thought we would fund catalyst projects using our own sources. Not anymore. We see that opportunities created as a result of what we are doing, we will get the necessary income," Syed Mohamed said.
Pressed on the assets which have attracted third parties, Syed Mohamed said a few parties are interested in its education offering.
At Educity, IIB has built Newcastle University, the University of Southampton Malaysia campus, Raffles University Iskandar, Marlborough College and Raffles American School, investing around RM600 million.
IIB is currently building Reading University and Multimedia University, which would bring total investments in Educity to more than RM700 million, Syed Mohamed said.
He added that majority of the universities are currently owned by IIB and on long-term lease to existing operators.
- Business Times
Is there a car park lot allocated already ? Not sure leh. I can check. How does it matter ?
It should be clearly marked on both the carpark drawing and a table in your S&P. Some are closer to the lift core.
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Signed the s and p but have not receive any document from lawyer yet. So how does the carpark lot matter ? Have not made payment beyond the 5k sin as well.
Singaporeans Quadruple Johor Property Prices
At a fraction of the price found in Singapore, bungalows in Johor’s Iskandar region have become a hit among Singaporean property investors. This has led to a 4-fold increase in prices there, from the RM1 million (S$400,000) for a bungalow 5 years ago, to current prices of about RM 5 million.
Nusajaya, one of 5 main zones in Iskandar, has seen a high influx of foreigners. Foreigners, with a large proportion of Singaporeans in the mix, own 70% of the residential properties in the area.
Data gathered from the Iskandar Regional Development Authority reported that total foreign investments has increased by RM15 billion, from RM22 billion in 2008, to RM37 billion as of September 2012. Singaporeans are the biggest contributors to this numbers, pouring more than RM5 billion in investments into the area since 2006.
The rising prices are good news to those who had purchased homes in Johor even as late as the middle of this year. Some owners have reported a doubling in the value of their homes.
Property developer for the area, UEM Land, attributes the hike in demand to the rising costs of property in Singapore along with the increased faith in Malaysian properties. Analysts have also suggested that a bungalow in Malaysia is a better investment than a shoebox apartment in Singapore.
Prices of land sites in the area have also shot up by almost 5 times, from RM20 per square feet (psf) around 2007, to the current RM90 to RM100 psf. Plots of land located at Ledang Heights meant for the development of bungalows showed a 4-fold increase from RM20 psf in around 2006 to the present RM80 psf.
These prices are expected to continue skyrocketing with the development of more attractions in the pipeline.
At a fraction of the price found in Singapore, bungalows in Johor’s Iskandar region have become a hit among Singaporean property investors. This has led to a 4-fold increase in prices there, from the RM1 million (S$400,000) for a bungalow 5 years ago, to current prices of about RM 5 million.
Nusajaya, one of 5 main zones in Iskandar, has seen a high influx of foreigners. Foreigners, with a large proportion of Singaporeans in the mix, own 70% of the residential properties in the area.
Data gathered from the Iskandar Regional Development Authority reported that total foreign investments has increased by RM15 billion, from RM22 billion in 2008, to RM37 billion as of September 2012. Singaporeans are the biggest contributors to this numbers, pouring more than RM5 billion in investments into the area since 2006.
The rising prices are good news to those who had purchased homes in Johor even as late as the middle of this year. Some owners have reported a doubling in the value of their homes.
Property developer for the area, UEM Land, attributes the hike in demand to the rising costs of property in Singapore along with the increased faith in Malaysian properties. Analysts have also suggested that a bungalow in Malaysia is a better investment than a shoebox apartment in Singapore.
Prices of land sites in the area have also shot up by almost 5 times, from RM20 per square feet (psf) around 2007, to the current RM90 to RM100 psf. Plots of land located at Ledang Heights meant for the development of bungalows showed a 4-fold increase from RM20 psf in around 2006 to the present RM80 psf.
These prices are expected to continue skyrocketing with the development of more attractions in the pipeline.
Hey all, I'm new here and looking to buy my first property. Any advice on what i can do with 70k sgd? Very interested in something at Puteri Harbour. Pinetree looks nice and is probably the only one available now? But psf seems to be really high. I will probably want to live there instead of renting it out. I'm single and hoping to get a nice bachelor pad 
Hope to hear from experienced peeps. Thanks!
Hope to hear from experienced peeps. Thanks!The S&P document is a rather thick document where you need to sign on every page. However, the lawyer has to go through with you page by page before you sign on them. Not sure if you are referring to the same document. You will bring this document to the bank to apply for a bank loan. I am paying by cash so does not need a bank loan. I am allocated 4-138 nearer to the entrance /exit of the ramp and just 20 metres from lift lobby to my unit.
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Where is this news extracted from? Do you have the url address?
S’pore minister: Iskandar a region of innovation and entrepreneurship
The Star 14/12/12 (Business section)
SINGAPORE: Singapore’s Senior Minister of State, Ministry of Trade and Industry and Ministry of National Development, Lee Yi Shyan, has described Iskandar Malaysia as a region of innovation and entrepreneurship.
He said the Iskandar region had attracted greater interest recently.
It had been reported that many foreign investors, including some Singapore firms, were considering investments there, he said.
“Indeed, Iskandar’s advantages are aplenty – its proximity to Singapore, availability of land and a large pool of labour are among the chief reasons for foreign firms to locate there.
“For our companies, Deputy Prime Minister Tharman Shanmugaratnam had aptly described the region as a ‘nice complementary space’ for Singapore,” Lee said in his posting on Facebook yesterday.
Lee said he had recently visited the two Singaporean companies – Bright Floriculture Sdn Bhd and Super Group Pte Ltd – which had established operations there and was impressed with what he saw.
He said Bright Floriculture’s horticulture farm in Ulu Tiram, started by Ong Hock Beng and his two brothers in 1991, was doing well.
“The farm has grown. It produces quality vegetables for both the Malaysian and Singaporean market,” he said.
Lee said Super Group had pioneered the packaging of three-in-one beverage products and today, it manufactured a wide range of beverages and convenient food products, such as cup noodles, potato chips and coffee, at its Masai facilities.
“I was told that Super’s coffee production facility was among of the largest in South-East Asia,” Lee said.
He said the common factor was their willingness to redistribute their production activities in a logical and proactive way.
“Their foresight has enabled them to stay competitive and grow profitably,” he said. — Bernama
The Star 14/12/12 (Business section)
SINGAPORE: Singapore’s Senior Minister of State, Ministry of Trade and Industry and Ministry of National Development, Lee Yi Shyan, has described Iskandar Malaysia as a region of innovation and entrepreneurship.
He said the Iskandar region had attracted greater interest recently.
It had been reported that many foreign investors, including some Singapore firms, were considering investments there, he said.
“Indeed, Iskandar’s advantages are aplenty – its proximity to Singapore, availability of land and a large pool of labour are among the chief reasons for foreign firms to locate there.
“For our companies, Deputy Prime Minister Tharman Shanmugaratnam had aptly described the region as a ‘nice complementary space’ for Singapore,” Lee said in his posting on Facebook yesterday.
Lee said he had recently visited the two Singaporean companies – Bright Floriculture Sdn Bhd and Super Group Pte Ltd – which had established operations there and was impressed with what he saw.
He said Bright Floriculture’s horticulture farm in Ulu Tiram, started by Ong Hock Beng and his two brothers in 1991, was doing well.
“The farm has grown. It produces quality vegetables for both the Malaysian and Singaporean market,” he said.
Lee said Super Group had pioneered the packaging of three-in-one beverage products and today, it manufactured a wide range of beverages and convenient food products, such as cup noodles, potato chips and coffee, at its Masai facilities.
“I was told that Super’s coffee production facility was among of the largest in South-East Asia,” Lee said.
He said the common factor was their willingness to redistribute their production activities in a logical and proactive way.
“Their foresight has enabled them to stay competitive and grow profitably,” he said. — Bernama
Hey all, I'm new here and looking to buy my first property. Any advice on what i can do with 70k sgd? Very interested in something at Puteri Harbour. Pinetree looks nice and is probably the only one available now? But psf seems to be really high. I will probably want to live there instead of renting it out. I'm single and hoping to get a nice bachelor pad
Hi Lx384, welcome!
I am assuming you are willing come up with 70k cash or around MYR 175 k. Depending on your profile, income, nationality, you should be able to get up to 90% loan. Say if you get 85%, you can go for something slightly below RM 1M with some cash left for state consent, loan stamping etc. as required.
For Puteri Harbour, you can still try Teega public launch tomorrow. All the good units with marina view will most likely be gone, but even if you can get hold of a low floor unit with pool view, it may not be that bad for the price. It is not as luxurious as Pinetree, but if you can get something for around 800 psf it may not be a bad buy. I am not sure about the pricing though. Otherwise, you can wait for future launches, such as CS3 plot by UM land, etc. However, these will not be cheap.
Even my distant relative is saying Iskandar has potential.
You will have to try your luck tomorrow as developer has decided on balloting.
Btw, heard last night from sales that the developer last minute decided not to do balloting, but q on first come first serve basis on both Saturday and Sunday. Any invitee who went there today could confirm.
Yes, that's right, for Saturday you have to be an invitee, VVIP and VIP as existing buyers of UEM/Sunrise. But Sunday open for new buyers as I understand.
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I am an invitee to go on Sunday but not having too high hopes of getting a choice unit. As I understand from them, no invitation, you can't go in.
But no harm trying.
As I understand from them, no invitation, you can't go in.But no harm trying.
I am an invitee to go on Sunday but not having too high hopes of getting a choice unit.
But no harm trying.
Hi Funniman, sorry, my bad, you know better.
Yes, I agree, no harm trying ......
Actually the marketing team of Sunrise Mont Kiara is helping out the launch. That's why things are different from last launch. Good luck to all bidders.
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