REHDA Positive on Johor's Property Outlook

Property developers remain optimistic on the future of Johor’s property market, especially in Iskandar Malaysia, reported The Star. The ‘feel good’ factor in 2012 is expected to continue this year, according to Koh Moo Hing, Branch Chairman of Real Estate and Housing Developers Association (REHDA Johor). Many members of REHDA Johor reported good take-up for most of their property launches in 2012 and they are bullish that the momentum will be maintained this year, he said. “Iskandar has been progressing well in the last six years, bringing great changes to the landscape of the property market in South Johor.” Notably, the Malaysian Property Exposition (Mapex) held last November generated RM672.14 million sales compared to RM612.63 million for the previous Mapex held in May 2012. Notably, this reflects transactions within a 30-day period. At the same time, the number of properties transacted rose to 1,449 units in November from 1,269 units in May. Moreover, Mapex sales volume had steadily increased since 2009 — Mapex April 2009 recorded RM120.52 million sales, which rose to RM142.02 million in April 2010, RM384.24 million in May 2011 and RM612.53 million in May 2012. In addition, “Iskandar has helped push up house prices between 10 percent and 20 percent from 2009 until 2012 in South Johor; hence the better sales registered,” noted Koh. But with large tracts of land still available for future residential development, prices in Iskandar remain lower than those in Penang and Klang Valley, he added.

Iskandar Woos Investors from Surabaya, Indonesia

A delegation from the Iskandar Regional Development Authority (IRDA) is headed to the business community of Surabaya, Indonesia between 31 January and 1 February to promote Iskandar’s investment potential. This follows IRDA’s active promotion of the economic region to Indonesia’s business communities in Jakarta, Bali and Makassar. Notably, IRDA Chief Executive Datuk Ismail Ibrahim and Johor Chief Minister Datuk Abdul Ghani Othman will head the delegation. The mission aims to brief Indonesian investors on areas of Iskandar where they can invest, said Syahril Syazli Ghazali, Economic Advisor at the Malaysian Embassy in Jakarta. “Among the areas with potential to attract investments from Indonesia are the creative industries, hospitality, theme parks, logistics as well as financial and health services.” The delegation will also meet up with individuals from the local business community including members of trade councils and business chambers, he said, adding that Iskandar can easily attract investments from Indonesia if IRDA can offer special incentive packages for the investors. At present, many Indonesian tourists are visiting Iskandar Malaysia, especially after the opening of the LEGOLAND, Johor Premium Outlets and the Puteri Harbour Family Theme Park. Specifically, tourist arrivals from the country rose to 2.3 million in 2012 compared to 2.1 million during the previous year.

Pine Wood Studios Eyes RM$3.8B projects by 2020

Johor’s Pinewood Iskandar Malaysia Studios (PIMS) is poised to rake in a whopping RM3.8 billion worth of investments by 2020, according to Michael Lake, Chief Executive Officer of the PIMS. “About RM1.9 billion will be spent in the local economy, including for local wages,” he said. Set to be completed in May, the 20ha development will be a world-class, state-of-the-art film and television studio production facility — one of the largest in the region. “To support the first phase of PIMS' development, a total of 1,500 talents are required by the end of this year,” said Lake. Along this line, Iskandar Region Development Authority (IRDA) chief executive Datuk Ismail Ibrahim has launched the Iskandar Malaysia Creative Industry Talent Development programme. “The first seven Train the Trainers' course under the development programme will start in March and are designed as intensive eight- to 12-week courses to provide skills and knowledge needed by Malaysian film industry professionals, trainers and workers to seamlessly integrate with large-scale international film production companies,” noted Ismail. This scheme hopes to attract 1,300 people by end-2013. Courses to be handled by industry experts will include production accounting, grip and electrical department, set construction and wardrobe management.