Brisk sales for Iskandar condo Aquaint Danga Residensi

PETALING JAYA: In spite of recent analyst reports suggesting a softening of the Iskandar Malaysia property market, nearly 80% of two blocks of luxury new launch condo in Aquaint Danga Residensi were sold to house buyer at its official launch over the weekend.

Aquaint is a RM900mil development by Para Impiana Sdn Bhd, a joint venture between Rampai Fokus Sdn Bhd and its two Singaporean partners – Imperial Marina Pte Ltd and Skyfront Holdings.

Rampai Fokus is a wholly-owned subsidiary of Iskandar Waterfront Holdings (IWH).

The iskandar project development comprises four high-rise towers spread over a 1.6-ha prime waterfront site facing the Straits of Johor.

The new launch strong demand has been surprising to watchers in the Iskandar property market because of the recent spate of lacklustre sales and delayed property launches by developers within the Flagship A zone at Iskandar Malaysia.

On top of that, the luxury new launch condo units are priced about 30% higher than similar high-end apartment units launched by China’s Country Garden and Greenland Group, and all three projects are located adjacently along the Danga Bay waterfront.

Phase 1 site clearing works on Aquaint’s first two tower blocks, which have a gross development value of RM382mil, have begun and the units are slated for occupation by late 2018.

“Singapore luxury living standards at local prices means fantastic price savings for purchasers and investors,” IWH group executive director Lim Chen Herng said in a statement.

Selling prices range between RM900 and RM1,200 per sq ft.

The completed Aquaint development will comprise four luxury tower blocks with a total of 818 units with bubble lifts, integrated shops, high-end food and beverage outlets as well as extensively landscaped parks linked to an 8-km boardwalk along the Danga Bay waterfront.

Singapore co-owner of Aquaint, Tan Yang Poh, said the development was comparable to some of the best in luxury condominium projects in Singapore.

“But you cannot beat this in terms of cost savings and connectivity, especially with the upcoming mass rapid transit extension to Johor Bahru from Singapore,” she said.


Source: http://www.thestar.com.my/

Greenland Danga Bay New Launch Iskandar Project Jade Palace

Greenland Danga Bay - Jade Palace

 CHINA’S state-owned Greenland Group plans to build new launch apartments and a private club, among others, at its first iskandar project called Jade Palace in Iskandar Malaysia.

The Shanghai-based group, through its Malaysian subsidiary Greenland Danga Bay Sdn Bhd, will develop the iskandar project on a 760,000 sq ft site in prime waterfront area Danga Bay, Johor Bahru.

Greenland Group signed an agreement in April for the purchase of the johor land at Danga Bay from Iskandar Waterfront Holdings Sdn Bhd IWH for RM600 million.

Danga Bay was chosen because of its strategic location in Iskandar Malaysia, which has seen robust growth in recent years, said Greenland Group Malaysia general manager Wu Shao Hua at the new launch of the Greenland Danga Bay brand, here, on last Wednesday night.

Danga Bay prime waterfront area are the top choice of commercial land purchase from China developers. Country Garden and R&F Properties also chose to purchase this johor land location as their maiden iskandar project for their oversea foray.

“Called Jade Palace, the new launch iskandar project will take us five to eight years to develop,” he said.

The gross development value gdv of the iskandar project have yet to be ascertained because the company’s operation is still at its planning stage and not finalised.

Greenland Danga Bay iskandar project will comprise stylish high-rise residences with panoramic view, resort homes, commercial shop offices and theme street malls.

The iskandar project development will offer a comprehensive all-in-one living and lifestyle services, such as home delivery, general housekeeping, home improvement, interior landscaping and property management.

Last Saturday, Greenland Danga Bay having its product introduction and register of interest at Thistle Hotel Orchid ballroom. It is very soon the new launch apartments ready for official launch and offer to public for interested house buyers, foreigner house buyers and real estate investors.

Taking about recently massive iskandar project developments and the market demand, Greenland Group Malaysia general manager Wu Shao Hua said it it choose Iskandar Malaysia because he expected Singapore industry will gradually move in to Iskandar Malaysia.

"The movement of industry from Singapore to Iskandar Malaysia will increase the human mobility, and increase the consuming power. Although Johor is a small town now, but with the completion of Rapid Transit System RTS from Singapore to Johor Bahru Tanjung Puteri and Kuala Lumpur - Singapore high speed rail in future, Iskandar Malaysia will develop in faster pace."

He also mentioned that they are discussing with Singapore authority for the transportation infrastructure project. 50% of house buyers Greenland Danga Bay Jade Palace iskandar project is expected to be sell to foreigners. House buyers and investors from China, Hong Kong, Singapore, Middle East and Indonesia are their targeted foreign house buyers, said Greenland Danga Bay marketing manager Yi Fang.

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.