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New developments to share
- Thread starter wuqi256
- Start date
Went there to see any lobangs but like someone posted, gone in 15 minutes. Interested, joined Q.
BYPAULINE NG IN KUALA LUMPUR
MALAYSIAN builder Mah Sing Group has plans for an "iconic integrated development" on two contiguous parcels of land in Medini in Johor.
The company yesterday entered into a lease-purchase agreement with Iskandar Investment Bhd (IIB) to acquire the 99-year lease over the parcels, which have an estimated gross floor area of 2.1 million sq ft. The cost: RM74.7 million (S$30 million), which works out to nearly RM35 psf.
These parcels are likely to be among the last plots transacted for a period as IIB, the master planner for Iskandar, believes sufficient projects are in the pipeline in coming years.
IIB president and chief executive Syed Mohamed Syed Ibrahim told The Edge newspaper last week: "The deals that we are going to enter into this year are those that were planned a few years ago."
He indicated that planned property projects had reached a critical mass and IIB would hold onto its still-considerable landbank and sell more land only when it believes the market can digest it.
IIB is 60 per cent controlled by sovereign wealth fund Khazanah Nasional, with the Employees Provident Fund and Kumpulan Prasarana Rakyat Johor holding 20 per cent each.
The Edge report said that, the deal with Mah Sing notwithstanding, IIB is expected in the coming weeks to announce a few more, which will either take the form of a land disposal or a joint venture. One deal involves a Singapore builder.
In the past year, Klang Valley developers have been making a beeline for Johor because of narrowing options in land-scarce Kuala Lumpur; it is also because they are now more optimistic about Iskandar's prospects. These include luxury builders E&O, SP Setia, Sunway, UEM Land, WCT and Bina Puri.
Sunway, for instance, has about 280 hectares of land in Medini which it bought for RM745 million and will develop in a joint venture with Khazanah over 10 years.
With an estimated gross development value of RM12 billion, Iskandar Sunway is to comprise 65 per cent residential and 35 per cent commercial units.
Located next to it is E&O's 85 ha wellness township, a RM3 billion mixed development built in partnership with Khazanah and Temasek Holdings.
Iskandar is becoming increasingly livable because infrastructure and amenities are all in place - roads, international schools, malls and theme parks.
Tax incentives have also helped boost its attractiveness. Companies in Medini which begin approved activities before the end of 2015 are eligible for tax breaks, including a 10-year exemption from income tax, withholding tax for services and royalties, import duty, sales tax and real property gains tax.
Medini builders are also exempted from bumiputra housing quotas, and foreign buyers are allowed to acquire homes costing below RM500,000, the minimum threshold normally set for foreigners.
Mah Sing said Meridin Suites residences, the first phase of its proposed The Meridin@Medini project, will comprise 500 sq ft units priced from an indicative RM288,000. Development will take five years and work is expected to start in the second half of next year.
MALAYSIAN builder Mah Sing Group has plans for an "iconic integrated development" on two contiguous parcels of land in Medini in Johor.
The company yesterday entered into a lease-purchase agreement with Iskandar Investment Bhd (IIB) to acquire the 99-year lease over the parcels, which have an estimated gross floor area of 2.1 million sq ft. The cost: RM74.7 million (S$30 million), which works out to nearly RM35 psf.
These parcels are likely to be among the last plots transacted for a period as IIB, the master planner for Iskandar, believes sufficient projects are in the pipeline in coming years.
IIB president and chief executive Syed Mohamed Syed Ibrahim told The Edge newspaper last week: "The deals that we are going to enter into this year are those that were planned a few years ago."
He indicated that planned property projects had reached a critical mass and IIB would hold onto its still-considerable landbank and sell more land only when it believes the market can digest it.
IIB is 60 per cent controlled by sovereign wealth fund Khazanah Nasional, with the Employees Provident Fund and Kumpulan Prasarana Rakyat Johor holding 20 per cent each.
The Edge report said that, the deal with Mah Sing notwithstanding, IIB is expected in the coming weeks to announce a few more, which will either take the form of a land disposal or a joint venture. One deal involves a Singapore builder.
In the past year, Klang Valley developers have been making a beeline for Johor because of narrowing options in land-scarce Kuala Lumpur; it is also because they are now more optimistic about Iskandar's prospects. These include luxury builders E&O, SP Setia, Sunway, UEM Land, WCT and Bina Puri.
Sunway, for instance, has about 280 hectares of land in Medini which it bought for RM745 million and will develop in a joint venture with Khazanah over 10 years.
With an estimated gross development value of RM12 billion, Iskandar Sunway is to comprise 65 per cent residential and 35 per cent commercial units.
Located next to it is E&O's 85 ha wellness township, a RM3 billion mixed development built in partnership with Khazanah and Temasek Holdings.
Iskandar is becoming increasingly livable because infrastructure and amenities are all in place - roads, international schools, malls and theme parks.
Tax incentives have also helped boost its attractiveness. Companies in Medini which begin approved activities before the end of 2015 are eligible for tax breaks, including a 10-year exemption from income tax, withholding tax for services and royalties, import duty, sales tax and real property gains tax.
Medini builders are also exempted from bumiputra housing quotas, and foreign buyers are allowed to acquire homes costing below RM500,000, the minimum threshold normally set for foreigners.
Mah Sing said Meridin Suites residences, the first phase of its proposed The Meridin@Medini project, will comprise 500 sq ft units priced from an indicative RM288,000. Development will take five years and work is expected to start in the second half of next year.
Hi,
What is yr opinion compared to Encorp Marina PH, in term of location and price. Understand that they may launch next weekend. Tks.
Given a choice for me, I would be going for the Teega as I am more comfortable with UEM/Sunrise as I have bought UEM propoerty before. Secondly, from a buyerinvestor point of view, I would baulked at committing at 1k psf at current market valuation. It seems to be like the developer has factor in the potential price appreciation in the selling price.
You can read post #2, #55, #116, #163 on the puteri harbor community page for more comments.
Cheers,
You can read post #2, #55, #116, #163 on the puteri harbor community page for more comments.
Cheers,
3 or 4yrs back ( cant really recollect exact time), was telling Selene how expensive their Ujana apt was. She told me one thing for sure, future developments by UEM, prices will definitely be higher than Ujana cos UEM will ensure present investors/buyers would not be short changed. Tat was an assurance given by her..
Prices at Ujana has moved as there are quite a lot of infrastructure are now in place and there is a critical mass around the EL area. When Ujana was launched, there is no coastal highway and I can only see hills that need to be levelled off for the highway.
For PH to take off, they need to build up a critical mass of residents to bring the buzz there and once there is this buzz, $1k psf is more likely to look attractive.
Have visited PH just during one of the nights and the whole place and roads are dark and deserted around the area. No doubt there is lots of potential but for me to commit to a unit at $1k psf now, I would be very hesitant.
Well, to each his own according to preference.
Will check, many thanks, cheers.............
CliffordKoh
New Member
Just went to take a look at the Twin Galaxy last weekend. the one bedroom units fuuly furnish is going for 500k and above at 560sqft. Is it expensive?
CliffordKoh
New Member
Just went to take a look at the Twin Galaxy over the weekend, for one bedroom they are selling for 500K up for 560 sqft. Is it expansive????
We managed to get..the area looks promising, finger cross, if all planned investment comes through and a number of large scale factory is already underconstruction
Hi CliffordKoh,
I feel that their selling price is more or less the same to those one bedroom condo located at Ampang, KL.
M-City project by Mah Sing for example was selling their studio unit about 600k while their one bedder (674 sqft) was about 700k. This project in KL is freehold and fully furnish. M-City translates to about RM$1K per sqft while Twin Galaxy as you mentioned is about $900 per sqft.
I'm not trying to market their project but for me with that kind of selling price, i rather look somewhere else..
My personal opinion though...
Ascendas and UEM Land set up JV to develop Iskandar tech park - Channel NewsAsia
Singapore : Ascendas Land International Pte Ltd, a Singapore government-linked company, has set up a joint venture with Malaysia's UEM Land Berhad to develop an integrated eco-friendly tech park in Nusajaya.
Nusajaya is one of the five flagship zones in Johor's Iskandar Malaysia.
Ascendas and UEM Land will hold 60 percent and 40 percent stakes in the joint venture respectively.
With a projected investment value of S$1.5 billion, the integrated tech park is located at Gerbang Nusajaya within the Nusajaya regional city in Iskandar Malaysia.
The 519-acre freehold tech park is the closest industrial site to Malaysia-Singapore Second Link checkpoint and directly accessible by a comprehensive network of main roads and highways to major international airports and seaports.
Ms Chong Siak Ching, President & CEO of Ascendas, said, "We are excited to be involved in one of the largest and most ambitious development projects in Southeast Asia. This joint venture extends our presence in Malaysia and offers an opportunity to share our experience in building environmentally-friendly integrated business space with vibrant work-live-play elements that Ascendas is renowned for."
"UEM Land sees this joint venture as an important and timely milestone as it kicks start the second wave of catalytic projects to be introduced and implemented post Nusajaya's 2012 Tipping Point. We are excited to work with Ascendas on this project and are confident that this project will further cement Nusajaya's position as a desired destination for strategic investment as well as for leisure and recreation," said Wan Abdullah Wan Ibrahim, Managing Director/Chief Executive Officer of UEM Land.
The proposed development is expected to take place in three phases over nine years with the launch of Phase One targeted in the last quarter of 2013.
When fully completed, it is expected to host a business community of over 34,000 people.
Singapore : Ascendas Land International Pte Ltd, a Singapore government-linked company, has set up a joint venture with Malaysia's UEM Land Berhad to develop an integrated eco-friendly tech park in Nusajaya.
Nusajaya is one of the five flagship zones in Johor's Iskandar Malaysia.
Ascendas and UEM Land will hold 60 percent and 40 percent stakes in the joint venture respectively.
With a projected investment value of S$1.5 billion, the integrated tech park is located at Gerbang Nusajaya within the Nusajaya regional city in Iskandar Malaysia.
The 519-acre freehold tech park is the closest industrial site to Malaysia-Singapore Second Link checkpoint and directly accessible by a comprehensive network of main roads and highways to major international airports and seaports.
Ms Chong Siak Ching, President & CEO of Ascendas, said, "We are excited to be involved in one of the largest and most ambitious development projects in Southeast Asia. This joint venture extends our presence in Malaysia and offers an opportunity to share our experience in building environmentally-friendly integrated business space with vibrant work-live-play elements that Ascendas is renowned for."
"UEM Land sees this joint venture as an important and timely milestone as it kicks start the second wave of catalytic projects to be introduced and implemented post Nusajaya's 2012 Tipping Point. We are excited to work with Ascendas on this project and are confident that this project will further cement Nusajaya's position as a desired destination for strategic investment as well as for leisure and recreation," said Wan Abdullah Wan Ibrahim, Managing Director/Chief Executive Officer of UEM Land.
The proposed development is expected to take place in three phases over nine years with the launch of Phase One targeted in the last quarter of 2013.
When fully completed, it is expected to host a business community of over 34,000 people.
CliffordKoh
New Member
Thank you for your advise. Equinox.
Which is the best investment you think in JB that I can seroiusly look at now.:*:
Which is the best investment you think in JB that I can seroiusly look at now.:*:
The market is viewing this as a very positive news:
http://www.businesstimes.com.sg/bre...nd-stocks-rise-iskandar-tech-park-jv-20121024
Fanamation
New Member
1000psf ok if it's tallest, iconic and by best developer - such as Sky88. TG building only 3X , by first time developer.
However the location is good , next to existing Hotels...mature town.
Hi all
Just to update. Heard from TG's agent that since tower A sold out, tower B now left only few 1 bedder suits, others like 2 bedders and 3 bedders all sold out (excl. bumi lots).
Rgds
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