Sunday, 22 June 2014

RF Princess Cove at Tanjung Puteri

Princess Cove @ Tanjung Puteri

Princess Cove @ Tanjung Puteri by Hong Kong Exchange listed China based company Guangzhou R&F Properties having its grand sales gallery opening yesterday at Johor Bahru old lorry custom Tanjung Puteri. The grand opening of Princess Cove sales gallery attracted and received many investors and house buyers to there.

To showcase its luxury, elegant and leisure concepts and designs for Princess Cove, sales gallery at Tanjung Puteri has specific unique design for its inside and outside building. Besides of show unit for new launch apartments iskandar project, it has specific uniquely designed restroom respectively in the sales gallery. Outside of Princess Cove sales gallery is a human-made beach, infinity swimming pool and gym equipments.

Princess Cove development will offer 5 Star hotel, Grade A office tower, SkyPark, Shopping Mall, Clubhouse and Apartments namely HOPSCA. When completed, Johor Bahru Tanjung Puteri Waterfront will have an estimated 41 million sq ft of built-up space.

Princess Cove is located just opposite Woodlands Waterfront, within walking distance to Johor Bahru CIQ and new MRT to be at Tanjung Puteri. Princess Cove is situated exactly at the location of the Johor Bahru old Custom, Immigration and Quarantine site CIQ. Facing toward Woodland Singapore, its strategy location of adjacent Singapore separated by walking distance causeway is the nearest to Singapore and best choice for investors and house buyers.

R&F Properties plans for 15 blocks of 35-storey new launch apartment buildings under phase 1 iskandar project this year, a total of 3,000 plus units of apartments and commercial shops for Princess Cove at Tanjung Puteri. Part of phase 1 are ready to be booked in July which comprise 400 units of new launch apartments built on four blocks of 30-35 storeys.

R&F Properties with over 20 years of experience in property development, has been involved in the building of classical bungalows, grade A office towers and five star hotels.It has a series of iconic developments on its portfolio mostly in China. Princess Cove @ Tanjung Puteri is its maiden iskandar projects in Malaysia.

Investors are betting on the economic development spurred by the establishment of Iskandar Malaysia and the upcoming rapid transit system between Johor Bahru and Singapore.



Princess Cove @ Tanjung Puteri details:

Project Name: R&F Princess Cove
Developer: R&F Properties
Address: Johor Bahru, Johor
Property Type: Service Apartment
Land Title: Commercial
Tenure: Freehold
Land Tenure: Freehold
TOP: 2018
Units: 1-4 bedroom

Facilities
- Garden clubhouse
- Greenery Square
- Swimming Pool
- Feature Wall
- Sea View Ox Bar
- VIP Waiting Room
- Children’s Playground
- Gymnasium
- Pool Room
- Indoor Ox Bar
- Grand Entrance
- Gazebo

rf princess cove rf tanjung puteri
Princess Cove @ Tanjung Puteri

Monday, 26 May 2014

Service apartment tax of 1% might be imposed

JOHOR BARU: THE freeze on the sale of agricultural land here to foreigners will stay indefinitely as the state government is taking steps to protect the interest of all Johoreans.

It is learnt that state Housing and Local Government Executive Committee chairman Datuk Abdul Latiff Bandi, has put on hold all pending applications from foreigners interested to purchase agricultural land from Malaysians to later convert the land for commercial, residential or multi-development iskandar project.

Latiff said all applications had been put on hold following Menteri Besar Datuk Seri Mohamed Khaled Nordin’s directive last weekend to disallow the sale of agricultural land to foreigners.

Latiff said the move by the state government was an effort to safeguard Johor’s land value, and as a measure to control rising ownership of agriculture land by foreigners. Many foreigners has bought agriculture land from locals and convert them to commercial land for mix iskandar project developments.

“All affairs related to land purchase in the state will be reviewed bv the soon-to-be established Johor Real Estate and Housing Board, which will look into the issue next month,” Latiff said at the launch ceremony of the Malaysia Property Exposition (MAPEX) 2014 exhibition at Persada Johor International Convention Centre, here yesterday.

“We want to stop the activity as it will affect the land value and raise the prices further after it has been developed. We want to ensure that all locals can afford to purchase reasonably priced homes in Johor.”

The decision to disallow sales of agricultural land to foreigners, especially agriculture land granted by the state government (tanah kurnia), was made during the state executive council meeting last week.

Besides that, state government also suggests the implementation of 1% property tax to service apartment developments.That will means that the extra 1 % tax for service apartment gross development value gdv will be added to developers of service apartments. In the current new launch property market in Iskandar Malaysia Johor state, service apartments take up 70% of new launch property market.

According to Latiff, service apartment is suppose to be built for rent, not for sales. Service apartment is like hotel by its nature suppose to have services like housekeeping and receptionist. However, it has change its nature to be like condominium or apartment in current new launch property market without housekeeping and receptionist services but with commercial land title. The commercial land title indirectly push up the new launch property prices causing high property prices in Iskandar Malaysia. This condition is not healthy and causing worry for property market collapse and economy instability especially Malaysia family debt ratio is amongst the highest in the ASEAN which stand up to 89%.

Monday, 12 May 2014

Pan-Asia Railway - connecting Kunming to Singapore by high speed rail



Wang Mengshu, of the Chinese Academy of Engineering, in an extensive interview with the Beijing Times, laid out the general strategy of China utilizing its growing expertise in high-speed rail construction to create a World Land-Bridge. It seems that China has forcefully taken up the policy which had been announced over 100 years ago in the U.S. as "girding the globe with tramway of iron" as expressed by Gen. Joshua Owens after the successful completion of the Transcontinental Railroad. The dramatic nature of the cultural shifts in the two countries, the U.S. and China, is underlined by the increasing collapse of U.S. infrastructure and the desire of China to become the chief producer of transportation infrastructure for the world. The recent visit of Chinese Premier Li Keqiang to Africa is just the latest example of that policy.

Professor Wang noted four primary directions for the Chinese high-speed rail construction: (1) a Eurasian line with two branches, one going through Kazakhstan and another entering China at the Chinese border from Russia at Manzhouli and proceeding east to Khabarovsk; (2) a Central Asian Line, starting from Urumqi and proceeding through Kazakhstan, Uzbekistan, Turkmenistan, Iran, and Turkey, and then on to Germany; (3) a Pan-Asian high-speed rail starting from Kunming and proceeding through Vietnam, Cambodia, Thailand, and Malaysia, and arriving at Singapore; and (4) A line going through northeast China and then through Siberia to Chukotka, where it will meet with the planned Bering Strait tunnel to Alaska. There are also discussions with Russia regarding the gauge for a high-speed rail traversing Russian territory. The Chinese wish to build it using the international 1435 mm gauge rather than the wider 1524 mm gauge used by the Russian railroads.

With regard to the first two lines, Wang said, the domestic side is progressing well and the foreign sections are still under consideration. On the Pan-Asian line, construction has begun on a China-Myanmar railway tunnel. The Siberian line is still a matter of negotiations, but Wang indicated clearly that China would be prepared to help finance and build a tunnel under the Bering Strait. Professor Wang indicates the benefit accruing to China in this "going out" policy. First, they can exchange their infrastructure investment for the needed energy resources possessed by many of these countries in lieu of cash payments. In the case of Myanmar, it will be the supply of potash. Second, it provides an outlet for Chinese engineers to play the key role in the surveying, planning, design, and construction of the roads, and allows them to train the personnel in the transit regions. Already now there is a regular train from Zhengzhou which carries exploration equipment and technical personnel destined for Central Europe and other regions of the high-speed rail line. Participating in the Bering Strait project would also give Chinese engineers the experience they would need to build a similar tunnel between Fujian and Taiwan, Wang explains.


Pan-Asia Railway

Pan-Asia Railway project, a much-anticipated mega project, has been designed and planned for over 50 years before its formal start on November 10 of 2006. According to the program, altogether 3 railways, connecting China and Southeast Asian nations, will be opened before 2020. All these 3 railways are designed to start from Kunming, Yunnan.

The whole project consists of three lines, namely the eastern line, the middle line and the western line. Among them, the eastern one is being built in the fastest speed.

Middle Line: Till now, Yuxi-Mohan section have not been started construction yet

Route: Kunming-Yuxi-Mohan
Yuxi-Mohan Railway, a section within the middle line of Pan-Asia Railway, is still not started its construction.

According to Railway Bureau, the Yuxi-Mohan Railway will reach a length of 503.8 kilometers, with a total investment of 44.65 billion yuan. In the section, train speed is designed to reach 200 kilometers per hour from Yuxi to Jinghong, Xishuangbanna, and 160 kilometers per hour from Jinghong to Mohan. After its construction, travel time from Pu’er to Kunming will be cut to below 3 hours.

Due to difficulties in building railways in Yunnan, construction of the section might spend at least 5 years before being put into operation.

Western Line: Baoshan-Ruili Railway may be started construction in the year
Route: Kunming-Dali-Baoshan-Ruili

The western line has 3 sections, Kunming-Dali part, Dali-Baoshan part and Baoshan Ruili part. Among them, Kunming-Dali part is estimated to be completed in May of 2017. Meanwhile, Dali-Baoshan part has been started construction in 2008, and Baoshan-Ruili part will be started construction within the year.

Kunming-Dali part is put into remolding on the basis of the previous railway. Kunming-Guangtong section of that part has been completed remolding in the second half of last year. The left section, Guangtong-Dali section, has been started remolding since December 30 of 2012, and is anticipated to be finished in May of 2017. The part is 174.45 kilometers long, with an investment of 13.936 billion yuan. 

Trains are designed to operate at a speed of 200 kilometers per hour in this part.

Dali-Baoshan part is 133.641 kilometers long, and had been put into construction since 2008. The construction is estimated to last for about 66 months. The part is also called “a metro-like railway”, for it altogether contains 21 tunnels.

Baoshan-Ruili part covers a length of 197 kilometers, and is planned to be invested with 17.578 billion yuan. The part may be started construction within the year.

Eastern Line: Mengzi-Hekou section will be opened within the year
Route: Kunming-Yuxi-Mengzi-Hekou

Kunming and Yuxi has been connected by an old railway already. Its remolding was started on November 28 of 2010, and will be completed within next year. After remolding, railway level of this part will be greatly improved. Trains on that part are estimated to run at a speed of 200 kilometers per hour.
Yuxi-Mengzi part has been opened from February 23, 2013, yet the Mengzi-Hekou part is still under construction now.

Mengzi-Hekou Railway boasts a length of 141.44 kilometers, and is to be constructed with an investment of 6.93 billion yuan. Train speed is designed to reach 120 kilometers per hour. A total of 12 stops, 32 tunnels and 36 bridges are set to be built along the railway.

Mengzi-Hekou Railway has been constructed since July of 2013, and is anticipated to be opened in the year. Its operation also marks the completion of the eastern line of the Pan-Asia Railway project in China.


Key project for 14,000-km network to connect Kunming with Myanmar

A major construction project for the ambitious Trans-Asian Railway Network from Kunming to Singapore is set to commence in China in June 2014, according to latest news from senior railway expert official
Wang Mengshu.

"The Gaoligong Mountain Rail Tunnel will be more than 30 kilometers long and will help link Yunnan province to Myanmar," said Wang Mengshu, a tunnel and railway expert at the Chinese Academy of Engineering, on Thursday.

The National Development and Reform Commission approved the project, and engineers and worker representatives have come up with techniques to overcome geological complexities that could pose challenges, Wang said.

The tunnel will be the longest of its kind in Asia, with engineering difficulties equivalent to those found in the construction of rail lines on the permafrost in Tibet, he said.

"Another important project, the Nujiang River Rail Bridge, will also be launched soon," Wang added, noting that both the bridge and the tunnel are elements of the Dali-Ruili Railway, which will extend 330 kilometers to link China with its neighbor Myanmar.

Some sections of the railway suitable for high-speed operation will allow trains to run at 250 kilometers per hour. Other sections will hold speeds to a maximum of 180 kph, Wang said.

Wang has been one of the key planners for China's high-speed railway network.

Three rail lines that link China to Southeast Asian nations are included in the central government's medium- and long-term railway network plan, and some preliminary work has begun, according to sources close to China Railway Corp (formerly the Ministry of Railways).

Under the plan, the lines will start in Kunming, Yunnan province, and connect Laos, Vietnam, Cambodia, Myanmar, Thailand, Malaysia and Singapore. They constitute the southern part of the Trans-Asian Railway, which was initiated in the 1960s and began to take shape after 18 countries endorsed an agreement in November 2006.

The huge rail network aims to provide a continuous 14,000-km rail link between Singapore and Istanbul, with possible onward connections to Europe and Africa, according to the United Nations Economic and Social Commission for Asia and the Pacific.

While the blueprint for the three lines has been in the works for some time, survey and construction work has dragged on because of funding difficulties and disputes over speed-related issues.

"Now we have finished the survey work, and as far as I know, the government is negotiating with foreign nations over the funding methods," Wang said.

"They have reached a preliminary conclusion that China will be responsible for investing in infrastructure,
equipment and technical research, while other countries will repay their share with local resources."

A railway expert at Beijing Jiaotong University who didn't want to be named said China should make sure it has enough money for such a massive project.

"China's railway sector is still being haunted by deep debts," the expert said. "Therefore, even with the government's support, it must persuade banks to lend a colossal amount of money.


Pan Asia Railway
Pan Asia Railway



Wednesday, 23 April 2014

China property developer Greenland Group iskandar project at Danga Bay




Iskandar Malaysia received another real estate investment from China property developer. One of China’s largest state-owned property developers, Greenland Group had follows other China property developers’ footsteps to grab the market pie of hot Iskandar property market. China property developers since then have been one of the biggest players in the Iskandar Malaysia integrated development after Malaysia and Singapore.

Greenland Group has sealed a deal with government-linked company Iskandar Waterfrot Holding Sdn Bhd IWH to acquired a plot of prime waterfront land in Iskandar Malaysia for RM600 million for a mixed integrated development.

The acquired johor land size of 13.96 acres at the Danga Bay area which is near to its peer current prime property developer Country Garden is expected to have gross development value GDV of RM2.2 billion. The successful of Country Garden maiden foray into Danga Bay has attracted many China property developers who wish to expand their footprints overseas after tightened restrictions on their own country. Media has reported that Country Garden achieved targeted property sales of RM10 billion with over 6000 units of new launch condo sold within 2 months after the new project launch at August 2013.
The land prices Greenland Group bought is the second highest in the record johor land sale transactions in Iskandar Malaysia at RM984.00 per square feet - just below the record RM998.00 per square feet that Hao Yuan Pte Ltd, a Singapore-based paid for 15 ha at Danga Bay last December. Sin-Hao Yuan Land aims to build the Malaysia tallest tower in Danga Bay as part of its iskandar project in Iskandar Malaysia.

A delegation from Greenland Group had visited Malaysia in February to explore real estate investment opportunities. Zhang Yuliang, Chairman of Greenland Group during his February visit said  that Malaysia has enjoy stable economic growth, high population demand, well connectivity within the region and Iskandar Malaysia is located at strategic location which near to Singapore separated by a causeway. These factors are the reasons for Greenland Group to invest at the Iskandar Malaysia.

Greenland Group was ranked 359 in the Fortune Global 500 company chart last year and listed as one of the top 10 property developers in China by Forbes with an estimated market value of US$7.6 billion (RM24.63 billion). Greenland Group has been on a buying spree in recent years with acquisitions of large scale real estate projects in New York, Los Angeles, Sydney, London and South Korea. The company is the builder of the 131-floor world’s tallest residential tower in Wuhan, China, and currently constructing another iconic 88-storey tower in Nanjing, potentially the seventh tallest building in the world.

IWH, a government-linked company, is the master developer of some 1,620ha of waterfront land stretching along the coastal line of
Flagship A, Flagship B and Flagship C, which is the premium johor land area of Iskandar Malaysia.

Greenland Group will form joint venture vehicle with IWH for the GDV of RM2.2 billion iskandar project.

IWH said it plans to leverage on Greenland’s forte in integrated developments, including high-end hotels and residential towers, to help transform Danga Bay into an integrated international waterfront city.

“We believe the Greenland Group will pave the way for more China state-owned companies to invest in
Iskandar Malaysia and our extensive waterfront johor land in Johor Baru,” said IWH.

So far, 16 local and foreign companies have committed to develop properties in joint venture with IWH with a cumulative GDV of RM125 billion. At least four other major China property developer are also negotiating with IWH for mixed integrated development featuring exclusive waterfront properties there.


GreenLand Group
GreenLand Group

GreenLand Group and IWH joint venture
GreenLand Group and IWH joint venture


IWH
IWH