New developments to share

[Valdez]

JCorp: RM1.2b invested in 11 industrial areas | Malaysia property news and resources

JOHOR BAHRU: Johor Corp (JCorp) has attracted local and foreign investments totalling RM1.2 billion at 11 industrial areas in the state during the past year.

President and chief executive Kamaruzzaman Abu Kassim said a multitude of manufacturers were involved in the sale of more than 4,627 hectares of JCorp's industrial land between November 2011 until October this year.

The industrial areas are in Pasir Gudang, Tanjung Langsat, Taman Teknologi Johor, Tebrau (I & IV), Simpang Renggam II, Mengkibol, Pontian, Segamat II, Kluang and Senai.

"For Pasir Gudang, there were 43.7ha of industrial land that were sold for RM557 million during the corresponding period.

"For the Tanjung Langsat Industrial Complex (TLIC), JCorp sold 26.8ha of land worth RM500 million," Kamaruzzaman said in a statement yesterday.

He added that the remaining nine industrial areas involved the sale of 17.6ha of plots worth RM160 million.

Kamaruzzaman said JCorp is actively promoting the 283.2ha Sedenak Industrial Area, which is set to become an international hub for small- and medium-scale industry.

Investments are also focused on the TLIC, which utilises logistics at the Tanjung Langsat Port (TLP), and located within the Flagship D of Iskandar Malaysia.

"So far, JCorp has roped in 60 investors with an overall investment of RM16 billion at the TLIC involving 628ha of industrial plots. Of that amount, 122ha involve oil field services and equipment."

The Performance Management and Delivery Unit (Pemandu) through Johor City and Corridor Lab has turned the Tanjung Langsat Port into a niche development port focusing on sustainable growth in the oil and gas sector.

TLP was identified as a catalyst for the Tanjung Langsat Petroleum Terminal and Tanjung Langsat Support Service Hub.

On another matter, Kamaruzzaman said JCorp will be using the 8th World Islamic Economic Forum here from December 4-6 as a platform to promote its businesses to 1,500 participants from 60 countries.

 

[OnlyaMazda]

I just bought a small unit at 1Medini over the weekend - quite a rash purchase I have to say.

Why i bought:
1. 5 min walk from the upcoming Gleneagles hospital
2. RM530 psf - prob lowest compared to other launches within medini
3. there 'll be 2 levels of retail - thus this is a plus for last min groceries shopping
4. I am not very knowledgable for JB, thus thought the medini area is a safe bet......

May I seek the advice of the "sifus" here to highlight if this is a sane move???

 

[Valdez]

I just bought a small unit at 1Medini over the weekend - quite a rash purchase I have to say.

Why i bought:
1. 5 min walk from the upcoming Gleneagles hospital
2. RM530 psf - prob lowest compared to other launches within medini
3. there 'll be 2 levels of retail - thus this is a plus for last min groceries shopping
4. I am not very knowledgable for JB, thus thought the medini area is a safe bet......

May I seek the advice of the "sifus" here to highlight if this is a sane move???

Only disadvantage is its leasehold. The initial launch was less than 400 psf

 

[arsenal]

The other advantage is this is 99 year lease and you don't actually own the house. In another word you are just renting like HDB. You can't use the house to borrow money or anything..

I just bought a small unit at 1Medini over the weekend - quite a rash purchase I have to say.

Why i bought:
1. 5 min walk from the upcoming Gleneagles hospital
2. RM530 psf - prob lowest compared to other launches within medini
3. there 'll be 2 levels of retail - thus this is a plus for last min groceries shopping
4. I am not very knowledgable for JB, thus thought the medini area is a safe bet......

May I seek the advice of the "sifus" here to highlight if this is a sane move???

 

[potter]

The other advantage is this is 99 year lease and you don't actually own the house. In another word you are just renting like HDB. You can't use the house to borrow money or anything..

after 40-60 yrs, banks hardly want to lend $ to the buyer..

singa version: http://www.asiaone.com/Business/My+Money/Property/Story/A1Story20091125-182275.html[/url]

malaysia version: http://www.isnare.com/?aid=31946&ca=Real+Estate

 

[Dfiris]

I just bought a small unit at 1Medini over the weekend - quite a rash purchase I have to say.

Why i bought:
1. 5 min walk from the upcoming Gleneagles hospital
2. RM530 psf - prob lowest compared to other launches within medini
3. there 'll be 2 levels of retail - thus this is a plus for last min groceries shopping
4. I am not very knowledgable for JB, thus thought the medini area is a safe bet......

May I seek the advice of the "sifus" here to highlight if this is a sane move???

Actually the price you have paid is still considered reasonable in today's market terms. A freehold equivalent of your price would be 25% higher at RM600+psf. During boom markets, speculators make more money from leasehold than freehold. So dun worry too much about it.

 

[whoami]

The other advantage is this is 99 year lease and you don't actually own the house. In another word you are just renting like HDB. You can't use the house to borrow money or anything..

Wat u meant is disadvantage. Typo error.

Sigh...my HDB unit 30yr plus leow. 10 yrs fm now hard to sell ya.

 

[Valdez]

I just bought a small unit at 1Medini over the weekend - quite a rash purchase I have to say.

Why i bought:
1. 5 min walk from the upcoming Gleneagles hospital
2. RM530 psf - prob lowest compared to other launches within medini
3. there 'll be 2 levels of retail - thus this is a plus for last min groceries shopping
4. I am not very knowledgable for JB, thus thought the medini area is a safe bet......

May I seek the advice of the "sifus" here to highlight if this is a sane move???

The landowner is UEM land not the govt. so you're renting from UEM land.

 

[potter]

Wat u meant is disadvantage. Typo error.

Sigh...my HDB unit 30yr plus leow. 10 yrs fm now hard to sell ya.

Don't ever sell yr HDB, especially those old ones.

 

[whoami]

Don't ever sell yr HDB, especially those old ones.

U mean still got buyers for 40yr + flats.

 

[Mingchye]

Govt would enbloc or upgrade old flats right? If enbloc, no need to worry abt the lease since you will be offered new replacement. If upgrade...mmmm ...wait for another enbloc lo heheh.

 

[potter]

U mean still got buyers for 40yr + flats.

are you still able to get the same price of your current house again? [unless no choice, the house got to return to hdb]
old hdb got lots of advantages, it depends how you look at it. emm...why need to kill yr golden goose.

 

[whoami]

are you still able to get the same price of your current house again? [unless no choice, the house got to return to hdb]
old hdb got lots of advantages, it depends how you look at it. emm...why need to kill yr golden goose.

I cant sell cos I intend to get one at JB. I wont sell cos its meant for my children.

 

[whoami]

Govt would enbloc or upgrade old flats right? If enbloc, no need to worry abt the lease since you will be offered new replacement. If upgrade...mmmm ...wait for another enbloc lo heheh.

I dont think all or old HDB flats will be enbloc in future.

 

[graveyard]

I just bought a small unit at 1Medini over the weekend - quite a rash purchase I have to say.

Why i bought:
1. 5 min walk from the upcoming Gleneagles hospital
2. RM530 psf - prob lowest compared to other launches within medini
3. there 'll be 2 levels of retail - thus this is a plus for last min groceries shopping
4. I am not very knowledgable for JB, thus thought the medini area is a safe bet......

May I seek the advice of the "sifus" here to highlight if this is a sane move???

why didnt you consider other project like tropez residence in city ..its RM600+ psf but its freehold. its better to get freehold in prime areas like nusajaya, bukit indah, JB sentral

 

[DWKY9]

Sorry guys just to check with you all. If I buy jb house now. Then few years later my hdb enbloc. Do I need to sell off my jb house then? Let say enbloc is one to one exchange and I don't loan money from hdb or banks do I still need to sell my jb house. This part I quite worry coz my place may soon enbloc few years time. Pls kindly advise if any. Kum sia.

 

[avelc]

The HDB rules apply regardless of loan or not. Under current rules if you acquire a HDB unit, all private and foreign ppty need to be disposed within 6 mths (if I didn't recall wrongly).

Increasingly with more S'poreans buying up north, more ppl will be asking this question. Will be interesting to see if there's any change to that ruling, though it will probably be no.

Sorry guys just to check with you all. If I buy jb house now. Then few years later my hdb enbloc. Do I need to sell off my jb house then? Let say enbloc is one to one exchange and I don't loan money from hdb or banks do I still need to sell my jb house. This part I quite worry coz my place may soon enbloc few years time. Pls kindly advise if any. Kum sia.

 

[avelc]

I'm guessing you bought a small unit below RM 500k since the psf price is high.

Since you already bought a unit, congrats! The first step is usually the hardest step.

Medini is very undeveloped at the moment, hence it's seen as a wild card, though there are plenty of exciting projects in the pipeline.

I just bought a small unit at 1Medini over the weekend - quite a rash purchase I have to say.

Why i bought:
1. 5 min walk from the upcoming Gleneagles hospital
2. RM530 psf - prob lowest compared to other launches within medini
3. there 'll be 2 levels of retail - thus this is a plus for last min groceries shopping
4. I am not very knowledgable for JB, thus thought the medini area is a safe bet......

May I seek the advice of the "sifus" here to highlight if this is a sane move???

 

[Valdez]

Racetrack very near to LF. Will spur demand for LF properties definitely

Peter Lim building $1.2b race track in Iskandar

Friday, 30 November 2012 (5 hours ago)

December 01, 2012 12:40 AM

BILLIONAIRE Peter Lim is partnering the Johor royal family and Malaysian state investment firm Khazanah Nasional to embark on a RM3 billion (S$1.2 billion) race circuit project in Johor's Iskandar.

 

[Mingchye]

Sorry guys just to check with you all. If I buy jb house now. Then few years later my hdb enbloc. Do I need to sell off my jb house then? Let say enbloc is one to one exchange and I don't loan money from hdb or banks do I still need to sell my jb house. This part I quite worry coz my place may soon enbloc few years time. Pls kindly advise if any. Kum sia.

My view, it is perfectly reasonable in your case to appeal to the HDB to be exempted. There is a possibility of enbloc and its not confirmed yet, and your purchase of JB prop based on current rules is allowable by HDB. So I think you got a strong case to argue, not like you purposely want to circumvent the rules, its an enbloc mah, forced to move. If however, you bought despite confirmed enbloc, then I think unlikely appeal can succeed.

Rules change all the time to suit market conditions. Back in 2005 there were new HDB flats which were unoccupied because HDB overestimated supply. Who knows what can happen in a few years time. My guess would be the HDB market would stabilise and some of these restrictive measures would be removed. Hence I wouldnt worry too much. That problem I will worry when I come to it.