Wednesday, July 25, 2012

Iskandar Malaysia bags RM10.67b new investments




Iskandar Malaysia clinched RM10.67 billion of new committed investments in the first half of 2012, according to a report by Bernama.
Datuk Ismail Ibrahim, Chief Executive Officer of Iskandar Regional Development Authority (IRDA), said that the region's total cumulative committed investments from 2006 to June 2012 reached RM95.45 billion.
"Forty-three percent of the committed investments were already realised," he noted, adding that "domestic investments constitute 62 percent (RM58.95 billion) of the total investments of RM95.45 billion, while the remaining 38 percent (RM36.50 billion) is from overseas."
"Key investments to date are represented by Asia (42 percent), Europe (40 percent) and the Middle East (14 percent)."
Since 2006, Iskandar Malaysia's property sector recorded cumulative committed investments of RM29.80 billion, while the manufacturing industry posted RM32.71 billion.
Investments for other sectors were healthcare (RM1.60 billion), education (RM1.55 billion), tourism (RM2.03 billion), ports and logistics (RM3.74 billion), petrochemicals (RM5.10 billion), government (RM7.31 billion) and utilities (RM9.52 billion).
IRDA is also focusing on six service sectors namely, creative content, tourism, education, healthcare, logistics and financial, due to the region's high economic multiplier effect.
"We are also exploring Green Technologies, Green Economy and Low Carbon Society (LCS) which are the future trends. IRDA is soon to launch its LCS Blueprint which is expected to be the trendsetter among ASEAN countries," he said.
Meanwhile, Asia's first Legoland theme park is slated to open in September while the opening of University of Southampton Malaysia and Marlborough College Malaysia are expected in October and August, respectively.

Monday, July 23, 2012

Raffles to open American-curriculum school in Johor





Singapore's Raffles Education Corporation will open an American-curriculum school in Johor this August, according to a report by AsiaOne.Known as Raffles American School (RAS), the international institution will be located at EduCity@Iskandar and will provide an American pre-K12 curriculum programme, with Advanced Placement Offerings in high school.RAS will open in two phases and is presently accepting enrollees for grades one to eight. Phase one is set to be completed in 2014 to 2015. The school will feature amenities such a dramatically terraced library, a media centre with digital media lab and reading spaces for students to study. It also includes a fully equipped performing arts centre with two venues for student productions.It will also have courtyards that will serves as teaching space and an area for fruit and vegetable cultivation. The school's greenhouse will also enable students to learn about agriculture, food studies and environmental sciences.Moreover, the schools indoor athletic complex comes with gymnasiums, wrestling halls, a dance studio, free activity rooms, as well as training and weights room. Other sports facilities include a soccer field, a soccer stadium with a 400-metre track, a baseball field, three tennis courts and two swimming pools. RAS aims to prepare students for top universities in the US, with the collaboration of International Schools Services.

Friday, July 20, 2012

Iskandar Investment, Zhuoda Real Estate sign Iskandar landmark agreement


Iskandar Investment Bhd (IIB) and Beijing-based Zhuoda Real Estate Group (Zhuoda) have inked two Memorandums of Understanding (MOUs) to develop mixed residential and commercial projects in Medini, Iskandar Malaysia.
This marks the first joint venture (JV) between Medini Iskandar Malaysia Sdn Bhd, a wholly-owned subsidiary of IIB, and Zhuoda Real Estate to develop a project in Medini North, which is known as Iskandar Malaysia's leisure and tourism destination.
"Today's signing is another significant milestone for us as it is the first major investment by a Chinese property development company into Iskandar Malaysia and IIB is delighted to be the partner of choice for Zhuoda Real Estate Group as they expand their presence beyond China," said Datuk Syed Mohamed Syed Ibrahim, President and Chief Executive of IIB.
IIB said the definitive agreements are scheduled to be signed at the 3rd World Chinese Economic Forum in Kuala Lumpur, Malaysia on 3 November 2011.
To be 80 percent owned by Zhuoda, the JV company will oversee the development of the residential project situated on a 73,000 sq m site. The project is expected to attract over 23 million residents and tourists annually.
Meanwhile, the second MoU will see MoU Zhuoda's purchase of lease for the 40,000 sq m site in Medini. Total Sales Value (TSV) of the land deal is around RM70.8 million with total investment estimated at approximately RM520 million.
"Zhuoda is delighted to be the partner for IIB and the first investor from China into Medini, Iskandar Malaysia. The signing today is another monumental occasion for the strengthening of strong bilateral ties between China and Malaysia enterprises while contributing to ASEAN's continued economic growth," said Yang Han Qing, Chief Operating Officer of Zhuoda.

Medini to get RM2.6 billion condo project


Medini Iskandar Malaysia Sdn Bhd, a subsidiary of Iskandar Investment Bhd, collaborated with China's Zhuoda Real Estate Group to develop 2,600 units of luxury condominiums in Medini, Johor, according to a report by Business Times Malaysia.
To be constructed in two phases, the condominiums have a gross development value of about RM2.6 billion and are set to be completed in five years.
Considered as Zhuoda's first overseas venture, the project will be carried out by a joint-venture (JV) company known as Zhouyuan Iskandar Sdn Bhd, in which Medini Iskandar holds a 20 percent stake.
Wang Bin Wu, Chief Executive Officer of Zhouyuan Iskandar, revealed that the project is tentatively dubbed as Medini International, with construction costs ranging from RM600 million to RM700 million. He added that the group decided to invest in the area because of Medini-specific incentives such as tax exemption and the absence of sales restriction to foreigners.
Phase One, which will feature the most affordable units, will target Malaysians, Singaporeans, Chinese, Japanese and Koreans.
Moreover, Datuk Syed Mohamed Syed Ibrahim, CEO of IIB, is confident that the project will receive a good take-up rate considering the warm reception of recent property launches in Iskandar Malaysia and as more infrastructure projects are completed under the 9th Malaysian Plan.
"There is, in fact, now upside potential for new quality offerings in the market with the completion of the infrastructure projects," he said.
Medini is expected to become the central business district of Nusajaya, given its strategic location in the Nusajaya development zone.

Tuesday, July 17, 2012

Johor to see 40 new Hotels unveiled



A total of 40 new three- to five-star hotels are scheduled for opening in Johor, with about half of the said number likely to be built in the next five years, according to The Business Times.
Responding to concerns over a potential oversupply, Tengku Ahmad Faizal, Chairman atthe Malaysian Association of Hotels (MAH) Johor Chapter believed that a perfect balance could be attained if the openings are in phases.
"Should all the hotels open according to schedule, with the opening of Legoland, followed by Hello Kitty Town, Little Big Club and LAT theme parks, room supply should be just nice," he added.
Johor's transformation into the amusement and theme park capital of Malaysia calls for extra stream of hotel rooms. Datuk Abdul Ghani Othman, Johor's Menteri Besar,noted that Johor will further build 3,000 new rooms by 2014 alone.
Apart from the three- to five-star hotel types,"what we need is all categories of accommodation. We need lower-category rooms, below the three-star category to cater to the middle- and lower middle-income groups," he added.
"With 40 hotel openings, and possibly more, everyone has to play their part in order to create awareness about Johor and to get the tourists to the state."
However, with Johor being a destination difficult to reach, more direct flights to the Senai InternationalAirport are also needed.
With the opening of international brands like Traders Hotel, Sheraton and Aman, Tengku Ahmad, Johor expects to solidify its mark in the international scene.

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New attractions in Johor to escalate tourism



Themed Attractions and Resorts (TAR) Malaysia hopes that its new projects in Johor, which will be launched later this year and in 2014, will increase tourist spending by 25 percent and length of stay by at least two days.
"The whole idea (of developing Johor) is to increase stays and spend to a more respectable level from now," said Tunku Ahmad Burhanuddin, Chief Executive Officer of TAR.
Out of the 11 new attractions to be opened in Johor, six are being developed by subsidiaries of Khazanah Nasional Bhd. In particularly, TAR will launch the Little Big Club, Hello Kitty Town and the Lat themed project at Puteri Harbour later this year; while the Ocean Splash and Ocean Quest water parks in Desaru will be opened in 2014.
These attractions are in addition to Johor's most frequented destinations in 2011 - Danga Bay, Gunung Ledang, Tebrau, Plaza Angsana and Desaru.
In an interview with Business Times Malaysia, Ahmad said, "Within the next five years, we would have made some kind of mark."

"Once we have that, the attraction becomes much more. We are now starting from ground zero. Once we get more people to come, there will be more attractions and products."
This is expected to encourage tourists to visit Johor and stay there longer, he explained, adding that TAR's Johor projects are targeting a 50:50 split between foreign and local visitors.
Much like Ocean Quest and Ocean Splash, Puteri Harbour is eyeing 500,000 visitors during its first year of operations.
Meanwhile, Legoland, which is scheduled to open in 15 September, expects to bring in one million visitors during its first year.

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Johor Baru's Setia Sky 88, Malaysia's tallest apartments



Jul 17, 2012 - PropertyGuru.com.my


The 55-storey The Setia Sky 88, developed by SP Setia Bhd, is poised to be the tallest residential apartment in Johor Baru upon completion.
According to Ricky Yeo, General Manager of Setia City Development Sdn Bhd, the three-tower iconic building at Jalan Abdullah Tahir will be completed in four years.
"The Setia Sky 88 will be an iconic building in Johor Baru. It is time for Johor Baru to have an iconic building, it will be a gateway to Iskandar Malaysia," he said, adding that "there will be no retail lots in this project as SP Setia wants the luxury service apartment to be very exclusive to its residents."
The first two towers will comprise 588 service apartments while the third tower will have 284 units.
With each unit priced at RM600 psf and a GDV of RM450 million, The Setia Sky 88 would also be the most expensive residential apartment in the city.
Yeo added that the company intends to give an apartment to Malaysians residents seeking to upgrade their standard of living as well as to Malaysians working in Singapore and expatriates in Singapore.
"Customers have been calling us to start looking at The Setia Sky 88, the demand is very encouraging," Yeo said.
The developer also expects strong demand from Singaporeans considering that Sky 88 is near the Johor Causeway and the Customs, Immigration and Quarantine Complex at the Sultan Iskandar Building.
Finally, Yeo noted that unit price at Setia Sky 88 is more affordable compared to house prices in Singapore.

Friday, July 13, 2012

More Singaporeans buying Johor homes despite crime threat

By Romesh Navaratnarajah: A growing number of Singaporeans are buying homes in Johor despite news of them being victims of crimes in the area. According to the Johor-Singapore Community Care Association (JSCA), about 5,000 Singaporeans own homes in Johor. "I see more Singaporeans buying houses in Johor Baru compared to five years ago," said Anuar Mohd Saad, Sales Manager at Broswell Property Consultant. "Previously, many Singaporeans were not keen to buy homes in Johor Baru because of the perceived crime situation and property resale value," he added. Meanwhile, Singaporean families are choosing to live in estates like Horizon Hills, Ledang Heights and East Ledang, all located within Nusajaya. Prices range from RM500,000 (S$198,900) for a terrace house to RM1 million (S$397,800) for a semi-detached home. "These prices are attractive because those earning middle-class incomes can afford landed properties," said Anuar. According to Charmian Chelvam, Sales Manager at DTZ, the fact that estates in Nusajaya are just 20 minutes from the Tuas checkpoint is what attracts Singaporeans to buying a house there. "The quality of the houses are good and the security systems are sufficiently effective, and because of this, more Singaporeans are looking to buy property in the area," she said. Interestingly, Singaporeans living in Johor formed the JSCA. Headed by Wan Hussin Zoohri, a former People's Action Party Member of Parliament, the association plans to organise social events for its members and support them in case of emergencies. "Many of the Singaporeans living in Johor are happy where they are. They also know that crime, while unexpected, is also not rampant," said Wan Hussin. "One of our objectives, however, is to act as a voice, to speak to the authorities there whenever there are security concerns." Related Stories: Buy an island for S$6.4m Stunning Singapore sales for The Crest Uptick predicted for Vietnam