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.
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| R&F Properties |
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