The Federal Government recently has agreed to the creation of three more new nodes in Iskandar Malaysia with the purpose to enhance, strengthen and pushs Iskandar Malaysia development further ahead to new level. Currently Iskandar Malaysia has only one nodes, which is located at Medini in Nusajaya, Flagship B.
According to the sources told to StarBiz, the three new nodes are most likely located at the Eastern Gate Development Zone, Western Gate Development Zone and Senai-Kulai growth corridor.
The proposal was submitted by the Johor State Government and the Iskandar Regional Development Authority IRDA, and presented at a meeting held at Putrajaya chaired by Prime Minister Datuk Seri Najib Tun Razak with Johor Menteri Besar Khaled Nordin. Based on the sources, Najib was happy with the achievements and progress of the Iskandar Malaysia developments, and has agreed and approved the creation of the three new nodes in Iskandar Malaysia.
The sources said the three new nodes would further accelerate and spearhead Iskandar Malaysia into next level to become an international metropolis by 2025 as outlined under Comprehensive Development Plan CDP. The nodes will cater for different economic activities like oil and gas, education, tourism, health, and aviation.
A node refer to an area dedicated to certain activities or developments. Privileges and benefits are given for companies or investors that having projects as outlined by Johor State Government within the nodes.
Medini is the only node in Iskandar Malaysia for current stage. Medini enjoy the benefits of non restrictions on foreigner price minimum requirements and quota on the sales of property. Medini also enjoys the benefits of exemption of the property sale tax.
Wednesday 15 January 2014
Monday 6 January 2014
Iskandar Project - Tallest Tower in Iskandar Malaysia
Iskandar Malaysia fetch new iskandar project with new record
high land prices after the China property developer R&F Properties. Sin-Hao
Yuan Land, a property firm linked to a Singapore property developer inked a
deal with Iskandar Waterfront Holdings IWH to buy six parcels commercial land
totalling 15ha in land size in Danga Bay for RM1.6 billion. The commercial land
is located just next to the place of upcoming S$3.2 billion township joint
develop by CapitalLand Malaysia and Temasek Holdings.
At RM998 per square feet (psf), the sale set a new benchmark for commercial land transactions in Johor Bahru, beating even the landmark RM4.5 billion deal between the Johor Sultan and China’s property developer R&F Properties, which was agreed land prices of RM891 psf.
Sin-Hao Yuan Land aims to build the Malaysia tallest tower in Danga Bay as part of its iskandar project in Iskandar Malaysia. The iskandar project have total gross development value GDV of RM8 billion, comprising of high end iskandar residences, commercial and retail properties. Sin- Hao Yuan Land is linked to Singapore property developer Hao Yuan Investment, controlled by Singapore permanent resident Du Zhen Zeng.
The iskandar project will be built by joint venture with IWH, a Malaysia property developer which have the most Johor land in Iskandar Malaysia. Sin-Hao Yuan will have 60% stake in the joint venture vehicle, Pristine Sun Properties, with IWH controlling the rest.
Sin-Hao Yuan Land said the iskandar project will feature a “the tallest iconic tower in Peninsular Malaysia and a landmark tower in Iskandar Malaysia”. However, it did not specify the height of the planned tower. Currently the tallest tower in Malaysia is the 88-storey Petronas Tower in capital of Malaysia Kuala Lumpur, at 452 meter height.
The IWH executive director Mr Lim said he expects the upscale new developments to provide long term recurring income for both parties. Sin-Hao Yuan Land’s latest plan come on the back of rising China interest in Iskandar Malaysia. China property developer Country Garden have the iskandar project with Gross Development Value of RM18 billion, Zhuoda has joint venture with Iskandar Investment Berhad IIB to joint develop iskandar project in Medini and latest purchased of commercial land by property developer R&F Properties.
At RM998 per square feet (psf), the sale set a new benchmark for commercial land transactions in Johor Bahru, beating even the landmark RM4.5 billion deal between the Johor Sultan and China’s property developer R&F Properties, which was agreed land prices of RM891 psf.
Sin-Hao Yuan Land aims to build the Malaysia tallest tower in Danga Bay as part of its iskandar project in Iskandar Malaysia. The iskandar project have total gross development value GDV of RM8 billion, comprising of high end iskandar residences, commercial and retail properties. Sin- Hao Yuan Land is linked to Singapore property developer Hao Yuan Investment, controlled by Singapore permanent resident Du Zhen Zeng.
The iskandar project will be built by joint venture with IWH, a Malaysia property developer which have the most Johor land in Iskandar Malaysia. Sin-Hao Yuan will have 60% stake in the joint venture vehicle, Pristine Sun Properties, with IWH controlling the rest.
Sin-Hao Yuan Land said the iskandar project will feature a “the tallest iconic tower in Peninsular Malaysia and a landmark tower in Iskandar Malaysia”. However, it did not specify the height of the planned tower. Currently the tallest tower in Malaysia is the 88-storey Petronas Tower in capital of Malaysia Kuala Lumpur, at 452 meter height.
The IWH executive director Mr Lim said he expects the upscale new developments to provide long term recurring income for both parties. Sin-Hao Yuan Land’s latest plan come on the back of rising China interest in Iskandar Malaysia. China property developer Country Garden have the iskandar project with Gross Development Value of RM18 billion, Zhuoda has joint venture with Iskandar Investment Berhad IIB to joint develop iskandar project in Medini and latest purchased of commercial land by property developer R&F Properties.
Sunday 5 January 2014
Breaking record land prices in Iskandar Malaysia
Johor land prices received historical record high in transaction
yesterday. Johor Sultan Ibrahim sold 6 pieces of johor land within Special
Economic Zone Iskandar Malaysia with the total land coverage of 116 acres to
China Guang Zhou property developer R&F Properties with the total price of
RM4.5 billion ( Malaysia Dollar). The land price was transacted at RM890 per
square feet, breaking the record of land prices China property developer
Country Garden bought for the johor land at Danga Bay with RM363 per square
feet.
According to report submitted by R&F Properties to Hong Kong
Securities Exchange, it bought the johor land at Iskandar Malaysia with above land
prices after negotiation with Johor Sultan Ibrahim. Report said R&F
Properties will pay RM100 million as down payment, and the remaining payment
will be paid within following 3 years in four time method.
The Chairman of R&F Properties Mr Li said this is the
company first oversea land purchase. He mentioned that Malaysia has large
Chinese population and at the same time local government implementing policies
that attracting foreign property buyers, so it is very suitable for the company
first foray to oversea property market. “Malaysia has strong economic
fundamental and supported by huge human population, its property market has
strong potential growth.”
Since the launch of Special Economic Zone Iskandar Malaysia and
efforts of IRDA, Iskandar Malaysia has successfully attracted many real estate
investments in Iskandar development region which supported by surrounding
highly developed country like Singapore and strong economic growth and high
population country like Indonesia. Since the 2008 economic crisis, the economic
weigh highly and shifting from west to east and Iskandar Malaysia attractive
and investor friendly environment and policies allow Iskandar Malaysia become a
bright star within South East Asia region.
 |
| R&F Properties |
Friday 3 January 2014
Casino in Johor Bahru
The news about Johor going to build resorts casino has
spread widely recently. Based on the sources, Malaysia tycoon controlled
Berjaya Group will build the casino inside Berjaya Waterfront once obtained the
gambling license from government.
Recently Berjaya Group has purchased Johor Bahru Berjaya Waterfront. At this moment Berjaya Waterfront's retail spaces is undergoing construction and renovation. There are the rumors that it is building casino.
Based on insider source, Berjaya Group plan to have a make over renovation for the Berjaya Waterfront retail spaces and hotel, bring in up market branded shops and restaurants, and in future followed by resorts casino comprising of gambling slot machines.
Where is Berjaya Waterfront hotel and retail mall? Well, Berjaya Waterfront is the previously well known The Zone hotel and Free Tax Zone retail mall. Berjaya Waterfront is built alongside seaside of Stulang Laut, and the opposite of the sea is Singapore country. Because it is free tax zone, it draws quite a lot of local and Singaporean to there for alcohol and cigarette and food.
Local Chinese leader and merchant association believe the opening of casino can bring benefit to Johor state government and local people, stimulate the economy and job creation for more job opportunities, but cautious that government must set entry measures to Malaysian to avoid the negative gambling effects arising from casino.
Malaysia small and medium enterprise association leader said that the opening of resorts casino in Johor Bahru can bring domino effects to surrounding property market values to new height and create more job vacancy resulting in huge economic benefits in Iskandar Malaysia developments. However, government must aware of potential social problems arising from the gambling and take preventive measures.
Malaysia financial magazine "The Edge" quoted sources previously said Johor Sultan Ibrahim bought 20% market share of subsidy company of Berjaya Group, Berjaya Asset (BJASSET). Following with the purchase, news widespread about the intention of Vincent Tan, the owner of Berjaya Group is planning to develop large scale resorts casino in Johor Bahru, comprising of gambling slot machines, up market restaurants and branded retail mall to compete for market share from Singapore both Integrated Resort Marina Bay Sands and Resort WorldSentosa.
Recently Berjaya Group has purchased Johor Bahru Berjaya Waterfront. At this moment Berjaya Waterfront's retail spaces is undergoing construction and renovation. There are the rumors that it is building casino.
Based on insider source, Berjaya Group plan to have a make over renovation for the Berjaya Waterfront retail spaces and hotel, bring in up market branded shops and restaurants, and in future followed by resorts casino comprising of gambling slot machines.
Where is Berjaya Waterfront hotel and retail mall? Well, Berjaya Waterfront is the previously well known The Zone hotel and Free Tax Zone retail mall. Berjaya Waterfront is built alongside seaside of Stulang Laut, and the opposite of the sea is Singapore country. Because it is free tax zone, it draws quite a lot of local and Singaporean to there for alcohol and cigarette and food.
Local Chinese leader and merchant association believe the opening of casino can bring benefit to Johor state government and local people, stimulate the economy and job creation for more job opportunities, but cautious that government must set entry measures to Malaysian to avoid the negative gambling effects arising from casino.
Malaysia small and medium enterprise association leader said that the opening of resorts casino in Johor Bahru can bring domino effects to surrounding property market values to new height and create more job vacancy resulting in huge economic benefits in Iskandar Malaysia developments. However, government must aware of potential social problems arising from the gambling and take preventive measures.
Malaysia financial magazine "The Edge" quoted sources previously said Johor Sultan Ibrahim bought 20% market share of subsidy company of Berjaya Group, Berjaya Asset (BJASSET). Following with the purchase, news widespread about the intention of Vincent Tan, the owner of Berjaya Group is planning to develop large scale resorts casino in Johor Bahru, comprising of gambling slot machines, up market restaurants and branded retail mall to compete for market share from Singapore both Integrated Resort Marina Bay Sands and Resort WorldSentosa.
 |
| Berjaya Group |
Subscribe to:
Posts (Atom)