Singaporeans top foreign property buyers in UEM Iskandar project

Recently newspaper reveals that Singaporeans accounted for 74 percent of total foreign property buyers in UEM’s Iskandar project. The rest of 26 percent Iskandar project property buyers are from Indonesia, China, Japan and Korea.

Based on the UEM CEO Wan Abdullah Wan Ibrahim, most Singaporean property buyers are those who always go Johor Bahru for business purpose and people who always spend weekend at Johor Bahru for shopping, food, and vacation or staycation. Singapore property buyers more to buy up market new launch property in Iskandar Malaysia, and landed property and luxury condo near to Singapore is their top choices.

UEM is the main property developer in Nusajaya, Flagship B at Iskandar Malaysia. East Ledang is one of the earliest new housing developments by UEM in Nusajaya area. East Ledang covers bungalow and villas. There are several new property launch developed by UEM at Puteri Harbour.

The high numbers of real estate investments flocking in to Iskandar Malaysia have been push up Iskandar Malaysia property prices to a new height since 2011. East Ledang bungalow resale market has shoot up more than 40 percent since 2011 and still going up. It has been very sought after by Singaporeans and Malaysian that worked in Singapore. In Singapore, a landed property at least price in at 2 million above in Singapore dollars. Yet, it is not a bungalow. East Ledang provides the alternative for them to enjoy the luxury of bungalow and landed property yet at lowest property prices compare to Singapore property prices.

East Ledang

Nusajaya Master Property developer UEM

New Theme Parks in Iskandar Malaysia

New Theme Parks in Iskandar Malaysia

Iskandar Malaysia IRDA CEO Iswan said recently on 8 Nov that the authority is in the progress of seeking foreign investment from Europe Theme Park and North America Theme Park players to have their businesses setup in Iskandar Malaysia. In order to balance the development at Iskandar Malaysia area, new theme park location need to be and will be located at Mersing, Desaru or Kulai.

Iswan replied after attended to Iskandar eco-tourism submit. New theme park can be setup at area outside of Iskandar Malaysia, example like Mersing because if too many theme parks located in same location, it is inappropriate in businesses context and strategy. We will make sure transport connectivity within these theme parks accessible easily and well connected.

Iskandar IRDA CEO Iswan also noted that the new theme parks targeting to adults customers given that currently Legoland and Sandrio Hello Kitty theme park already cater and targeted customers of ages from 3 years old to 11 years old. Therefore the IRDA hopes that the new theme parks to attract customers of different range of ages.

Iswan doesn’t disclose the theme parks they are negotiated with. In the current stage, Iskandar Malaysia already has Legoland from Denmark, Sandrio Hello Kitty from Japan, and the Angry Bird theme park from Finland which will be operated next year May at JBCC, Iskandar Flagship A Johor Bahru.

There do have newspaper release previously stated that Six Flag, which headquarter in America New York plan to have their first Asia theme park foray in Iskandar area. In the near future, we can expect that Iskandar Malaysia as a new Special Economic Zone in Malaysia with Johor State government dedication to transform and attract foreign direct investment to establish their businesses present here, and its strategic location next to rich and advanced country Singapore just separated by a causeway, Iskandar Malaysia will become brilliant and vibrant city in international standing. The model of Hong Kong-Shenzhen and Macau-Zhuhai will find its similarity at Singapore - Iskandar Malaysia.

Legoland Theme Park

Sanrio Hello Kitty Theme Park

Sanrio Hello Kitty Theme Park

Largest Free Tax Zone in Iskandar Malaysia

Largest Free Tax Zone in Iskandar Malaysia

Malaysia Oriental Newspaper press release yesterday at 10 Nov 2013 noted that Johor State government is in talk with property developer, planning to develop a free tax zone near to Second link – Gelang Patah with build up areas of 2000 acres. Once the plan confirmed and approved, it will be biggest of its kind in Malaysia.

According to the source from government insider of Johor State, the above mentioned free tax zone development will be co-operation and co-developed by China property developer Country Garden Group and Kumpulan Prasarana Rakyat Johor KPRJ, investment arm of Johor State. This plan has been brought up to discuss with the Johor State government for the initial stage. The purpose of free tax zone development is to further enhance and develop the Iskandar Malaysia as a special economic zone, and attracting more foreign investment.

The source said that the free tax zone idea is being brought up in recent months, and because it is a very new idea and concept, its actual development details and strategy is yet to be completed discussed and research. The source said that Johor State government hopes to transform Johor to be like Labuan, become International Commerce and Financial Centre of the choice of foreign direct investment, and free tax zone.  This project not only will improve Johor State’s tourism sector, but also attracting foreign institutional investors and multinational company to setup their businesses, increasing manufacturing and factory present and financial sector direct investments, and diversify the development portfolio.

Based on the newspaper release, when the China Premier Xi visited Malaysia early this month, he do mentioned China’s intention to invest in logistics sector within Iskandar Malaysia area. Therefore, we believe this will be good news to facilitate the development of free tax zone plan.

Free Tax Zone