UEM land is a government linked company, it is the main developer in Nusajaya and Cyberjaya and is rather new in this business they have a huge land bank. Only recently, it has acquired a successful Chinese developer Sunrise, a very famous high end developer in KL, it will leverage on its expertise to develop its projects including the 6 plots in Singapore downtown. It also has a project called symphony hills in cyberjaya which is quite similar to EL. I do not know how they managed to tender such a huge land bank. Their aim is to be the Capitaland of Malaysia.
For EL (100% UEM land), IMHO it is in an untested new market, I wouldn't say very far from the mature towns (perling, BI, etc), but a lot of its success will depend on how successful Iskandar region turns out to be. There's huge potential, but in the short term, a lot remains to be seen.
I agree on your views above, the only slight difference between our views is that I think EL's success depends on how successful Nusajaya(1/6 the size of Sg) is instead of the whole of Iskandar(3 times the size of Sg). In fact, this slight difference is really a big difference in terms of chances of success.
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