JOHOR BAHRU (Nov 25): The state government's scheme to help the low-income group obtain loans for affordable homes in Johor will be available in January.
State Housing and Local Government Committee chairman Datuk Abdul Latif Bandi said the scheme drawn up by the state government and Ambank Islamic Bhd was a proactive move to help realise the people’s aspirations of owning a home.
"This scheme helps the target group obtain their housing loans, which are difficult to be approved by other commercial banks.
"Through this scheme, Ambank Islamic will provide funds totalling RM300 million to ensure that the target group obtain financing for their homes," he said at the Johor state legislative assembly sitting in Nusajaya yesterday.
Latif was replying to questions from Puan Sri Azizah Zakaria (BN-Parit Raja), Datuk Dr Adham Baba (Pasir Raja) and Datuk Syed Sis Syed A Rahman (Tanjung Surat) relating to the affordable housing applicants’ difficulty in securing a bank loan despite having received a eligible affordable housing certificate from the Housing Division of the Johor State Secretary.
Latif said the scheme was the brainchild of Menteri Besar Datuk Seri Mohamed Khaled Nordin, who announced it when tabling the 2016 Johor Budget on Thursday.
The scheme will assist those eligible to obtain financing for an affordable home, particularly Package A type units priced at RM42,000, and Package B at RM80,000.
Source: http://www.theedgeproperty.com.my/
Showing posts with label Johor Bahru. Show all posts
Showing posts with label Johor Bahru. Show all posts
Friday, 27 November 2015
Saturday, 16 May 2015
RM2.5b Venice-style project in Sungai Danga, Johor Bahru
Sungai Danga, one of the most polluted rivers in the Johor state is poised to undergo a facelift with the first development phase of the River City@Danga project involves the cleaning up, beautification and transformation of Sungai Danga valued at RM2.5 billion.
The project being developed by Riverside Terra Sdn Bhd, a wholly owned subsidiary of Iskandar Waterfront Sdn Bhd, focuses on clean-up and beautification efforts to turn the river into a 'Venice of the East' and make it a renowned riverine tourism destination.
Developed on a 21-ha site, it will transform the area with several attractions, among others, hotels, apartments and office suites that are equipped with open berthing facilities, retail shops and a 6km boardwalk on both banks of the river.
Iskandar Waterfront Holdings Sdn Bhd group executive director Lim Chen Herng said other development being planned was the construction of the two man made islands that have thematic features to reflect the ethnic and cultural diversity found in the state.
"Under the project, the river will be turned into a new tourist destination. It is no ordinary project but one that will become a new landmark," Menteri Besar Datuk Seri Mohamed Khaled Nordin said in the launch and ground breaking ceremony for the project, here yesterday.
"This is the first such island in the country where the Malays, Chinese, Indians and others could display their unique cultural heritage, customs, dances, traditions and art works for the sake of tourism," Mohamed Khaled said.
Meanwhile Mohamed Khaled in his speech said the project would become an important catalyst to the tourism sector in the Iskandar Malaysia Flagship A.
"Directly or indirectly, it offers significant benefits to the economy of Johor due to the diversity of tourism product components besides enabling local communities to raise their living standard," he said.
In a move to address fears of foreigners snapping up all available property, the state will designate international zones or housing development projects within Iskandar Malaysia.
Mentri Besar Datuk Mohamed Khaled Nordin said the state government had identified 2 areas for the international zones designated for foreigners and was finalising the details.
The plans would be publish to the public, either in July or August, and the public and developers would be invited to give their feedback.
“There are 2 areas that we want to present. The first part will be on the growth of the international area and the other related to our policies to control oversupply of service apartments,” he told reporters after launching the groundbreaking ceremony of The River City@Danga project by Riverside Terra Sdn Bhd, a subsidiary of Iskandar Waterfront Sdn Bhd.
“We have nothing to hide, and it will be a win-win situation for both sides,” he said, adding that the international zone would help increase the competitiveness of the Johor property market and protect local buyers.
The project being developed by Riverside Terra Sdn Bhd, a wholly owned subsidiary of Iskandar Waterfront Sdn Bhd, focuses on clean-up and beautification efforts to turn the river into a 'Venice of the East' and make it a renowned riverine tourism destination.
Developed on a 21-ha site, it will transform the area with several attractions, among others, hotels, apartments and office suites that are equipped with open berthing facilities, retail shops and a 6km boardwalk on both banks of the river.
Iskandar Waterfront Holdings Sdn Bhd group executive director Lim Chen Herng said other development being planned was the construction of the two man made islands that have thematic features to reflect the ethnic and cultural diversity found in the state.
"Under the project, the river will be turned into a new tourist destination. It is no ordinary project but one that will become a new landmark," Menteri Besar Datuk Seri Mohamed Khaled Nordin said in the launch and ground breaking ceremony for the project, here yesterday.
"This is the first such island in the country where the Malays, Chinese, Indians and others could display their unique cultural heritage, customs, dances, traditions and art works for the sake of tourism," Mohamed Khaled said.
Meanwhile Mohamed Khaled in his speech said the project would become an important catalyst to the tourism sector in the Iskandar Malaysia Flagship A.
"Directly or indirectly, it offers significant benefits to the economy of Johor due to the diversity of tourism product components besides enabling local communities to raise their living standard," he said.
In a move to address fears of foreigners snapping up all available property, the state will designate international zones or housing development projects within Iskandar Malaysia.
Mentri Besar Datuk Mohamed Khaled Nordin said the state government had identified 2 areas for the international zones designated for foreigners and was finalising the details.
The plans would be publish to the public, either in July or August, and the public and developers would be invited to give their feedback.
“There are 2 areas that we want to present. The first part will be on the growth of the international area and the other related to our policies to control oversupply of service apartments,” he told reporters after launching the groundbreaking ceremony of The River City@Danga project by Riverside Terra Sdn Bhd, a subsidiary of Iskandar Waterfront Sdn Bhd.
“We have nothing to hide, and it will be a win-win situation for both sides,” he said, adding that the international zone would help increase the competitiveness of the Johor property market and protect local buyers.
Saturday, 14 March 2015
Iskandar Malaysia Secures RM26.77 Billion New Investments In Year 2014
JOHOR
BAHARU, March 10 – Iskandar Malaysia secured RM26.77 billion in new investments
last year, bringing the total cumulative committed investments amount to
RM158.3 billion since 2006. It gained 1.8 billion of new investments on 4th
quarter of 2014.
In 2013, the Iskandar Malaysia new investments were
RM25.05 billion.
Iskandar Regional Development Authority chief executive,
Datuk Ismail Ibrahim, said of the total of cumulative committed investments,
RM77.07 billion or 49 per cent, represented investments that had been realised.
He said
the figure showed that Iskandar Malaysia continued to do well despite the
challenges facing the global economy.
“It
also shows the confidence in Iskandar Malaysia, especially among local
investors, with domestic investments making up RM101.14 billion, or 64 per
cent, of the total cumulative committed investments to date,” Ismail said in a
statement here Tuesday.
From the total cumulative committed investments, 36 per
cent or RM56.99 billion was came from foreign investors.
From
January until September last year, top foreign investors were Singapore, US,
Spain, Japan and China.
With
such huge investments, Ismail said, they would bring ample business
opportunities for entrepreneurs and small and medium enterprises SME as well as
creating more jobs opportunities in Iskandar Malaysia.
In 2014
alone, a total of 651,536 jobs have been created in Johor from various sectors
in Iskandar Malaysia including manufacturing, hospitality, food and beverage,
and education, he said.
Ismail
said with the launch of the enhanced Iskandar Malaysia Comprehensive
Development Plan (CDPii) by the second quarter of this year, investors and
stakeholders may also get an insight into the outlook and opportunities in
Iskandar Malaysia as it moved into its third phase towards maturity in 2025.
“The
CDPii encompasses several aspects related to the environment, economy and
social development strategies for Iskandar Malaysia, an inclusive plan that
would benefit the communities in Iskandar region,” he said.
Source: www.star.com
Wednesday, 21 January 2015
China-based Greenland enters into RM2.4b land transaction with Malaysia's IWCB
PETALING JAYA: At a time when there is an increased level of cautiousness in the Johor property scene, a Chinese developer has inked an RM2.4bil deal with Iskandar Waterfront City Bhd (IWCB) to acquire 128 acres of land, a value that underscores one of the highest land transactions in the Iskandar region to-date.
A subsidiary of Shanghai-based state developer Greenland Holdings Group Ltd has established a joint venture (JV) with IWCB unit Southern Crest Development Sdn Bhd (SCD) to buy the land, which is mostly submerged, from IWCB for a sum of RM2.4bil.
The RM2.4bil deal works out to about RM430 per sq ft, which property consultants said set the benchmark for property prices in that area as there had not been any transaction of that size in that area previously. Most previous transactions were at Danga Bay, which is at the Causeway and near the Second Link.
The agreement is to acquire property and undertake the development and construction of a mixed development comprising commercial and residential components in Plentong, Johor Baru, via a special-purpose vehicle, Greenland Tebrau Sdn Bhd (GTSB).
Together, Greenland and Johor state government-linked company IWCB will develop an RM3bil new waterfront city on the land in Tebrau Bay.
The transaction comes amidst an environment where there are concerns of an oversupply of high-end condominiums in Johor. This has been evidenced by a lacklustre response from buyers for property launches in the Puteri Harbour area in the Iskandar Development region.
Iskandar Development is the authority overseeing the development of an area measuring 200,000ha in South Johor.
There are several companies undertaking the development, with UEM Sunrise Bhd being a key player. However, the recent poor take-up rate for the high-end condominium market was seen in a project at Tanjung Puteri Cove.
Apart from a vast hinterland waiting to be developed, more land is being reclaimed on the Straits of Johor near the Second Link, adding more supply of land for development.
This is particularly from the approval given to a JV between Country Garden Holdings Ltd and Kumpulan Prasarana Rakyat Johor (KPRJ) to reclaim and develop 1,368ha of land on the Straits of Johor to develop what is termed as the Forest City project that will be carried out on four man-made islands over a 30-year period.
In IWCB’s filing yesterday, it said its unit SCD would hold a 20% equity interest in GTSB, while Greenland Malaysia Real Estate Operator Sdn Bhd (GL) would hold the remaining 80%.
GL is a wholly owned subsidiary of Greenland Hong Kong Investment Group Ltd, which, in turn, is a 60%-owned subsidiary of the Greenland group.
KGV International Property Consultant executive director Samuel Tan said while more details were needed to determine if the deal was fair, it sent a strong signal to the investment market that Iskandar Malaysia was still a destination for property development in the long run.
“Development by foreign players is not confined to the usual Danga Bay, Medini Iskandar Malaysia and Nusajaya. This is good, as it will result in a more balanced geographical growth within Iskandar Malaysia,” he added.
It is learnt that IWCB chose the Greenland group, which is one of China’s biggest developers, because of its experience in building a city over a long term.
Already, some 13 local and foreign companies are actively involved in developing Iskandar Waterfront City in Danga Bay with a cumulative gross development value of RM125bil on the western corridor, which stretches from Johor Baru to Nusajaya.
“I now want to develop the Eastern Corridor of Johor Baru, stretching from Tebrau Bay to Pasir Gudang,” said Johor Mentri Besar Datuk Seri Mohamed Khaled Nordin in a statement.
Khaled envisions the Eastern Corridor to be South-East Asia’s new lifestyle destination, much like Australia’s Gold Coast.
The urban development of Tebrau Waterfront City will span a 15-year period and will feature a snow world theme park, an opera house, a hospital specialising in Chinese traditional medicine and a school.
“I welcome their long-term strategic interest to jointly transform Johor Baru into a modern international waterfront city and destination,” Khaled said.
IWCB is a listed entity which is 47%-owned by Johor-based Iskandar Waterfront Holdings Sdn Bhd (IWH). The Johor Government, via state investment arm KPRJ, has 40%.
The JV would enable IWH to leverage on its Chinese partner’s strength in mixed commercial development, including high-end hotels and residential towers, to reshape its waterfront land in Danga Bay and Tebrau Bay.
“We’ve undertaken urban development in over 80 cities throughout China. We’re keen to share the experience with IWH as our long-term JV partner and help transform Iskandar Malaysia into an international destination,” said Greenland group executive vice-chairman Xu Jing.
This is Greenland’s second investment in Iskandar Malaysia.
In April 2014, Greenland signed an agreement with IWH to jointly develop 13.6 acres in Danga Bay for RM600mil, comprising an RM2.2bil integrated mixed-property project, which includes the recently launched Jade Palace luxury condominiums.
Source: http://www.thestar.com.my/
A subsidiary of Shanghai-based state developer Greenland Holdings Group Ltd has established a joint venture (JV) with IWCB unit Southern Crest Development Sdn Bhd (SCD) to buy the land, which is mostly submerged, from IWCB for a sum of RM2.4bil.
The RM2.4bil deal works out to about RM430 per sq ft, which property consultants said set the benchmark for property prices in that area as there had not been any transaction of that size in that area previously. Most previous transactions were at Danga Bay, which is at the Causeway and near the Second Link.
The agreement is to acquire property and undertake the development and construction of a mixed development comprising commercial and residential components in Plentong, Johor Baru, via a special-purpose vehicle, Greenland Tebrau Sdn Bhd (GTSB).
Together, Greenland and Johor state government-linked company IWCB will develop an RM3bil new waterfront city on the land in Tebrau Bay.
The transaction comes amidst an environment where there are concerns of an oversupply of high-end condominiums in Johor. This has been evidenced by a lacklustre response from buyers for property launches in the Puteri Harbour area in the Iskandar Development region.
Iskandar Development is the authority overseeing the development of an area measuring 200,000ha in South Johor.
There are several companies undertaking the development, with UEM Sunrise Bhd being a key player. However, the recent poor take-up rate for the high-end condominium market was seen in a project at Tanjung Puteri Cove.
Apart from a vast hinterland waiting to be developed, more land is being reclaimed on the Straits of Johor near the Second Link, adding more supply of land for development.
This is particularly from the approval given to a JV between Country Garden Holdings Ltd and Kumpulan Prasarana Rakyat Johor (KPRJ) to reclaim and develop 1,368ha of land on the Straits of Johor to develop what is termed as the Forest City project that will be carried out on four man-made islands over a 30-year period.
In IWCB’s filing yesterday, it said its unit SCD would hold a 20% equity interest in GTSB, while Greenland Malaysia Real Estate Operator Sdn Bhd (GL) would hold the remaining 80%.
GL is a wholly owned subsidiary of Greenland Hong Kong Investment Group Ltd, which, in turn, is a 60%-owned subsidiary of the Greenland group.
KGV International Property Consultant executive director Samuel Tan said while more details were needed to determine if the deal was fair, it sent a strong signal to the investment market that Iskandar Malaysia was still a destination for property development in the long run.
“Development by foreign players is not confined to the usual Danga Bay, Medini Iskandar Malaysia and Nusajaya. This is good, as it will result in a more balanced geographical growth within Iskandar Malaysia,” he added.
It is learnt that IWCB chose the Greenland group, which is one of China’s biggest developers, because of its experience in building a city over a long term.
Already, some 13 local and foreign companies are actively involved in developing Iskandar Waterfront City in Danga Bay with a cumulative gross development value of RM125bil on the western corridor, which stretches from Johor Baru to Nusajaya.
“I now want to develop the Eastern Corridor of Johor Baru, stretching from Tebrau Bay to Pasir Gudang,” said Johor Mentri Besar Datuk Seri Mohamed Khaled Nordin in a statement.
Khaled envisions the Eastern Corridor to be South-East Asia’s new lifestyle destination, much like Australia’s Gold Coast.
The urban development of Tebrau Waterfront City will span a 15-year period and will feature a snow world theme park, an opera house, a hospital specialising in Chinese traditional medicine and a school.
“I welcome their long-term strategic interest to jointly transform Johor Baru into a modern international waterfront city and destination,” Khaled said.
IWCB is a listed entity which is 47%-owned by Johor-based Iskandar Waterfront Holdings Sdn Bhd (IWH). The Johor Government, via state investment arm KPRJ, has 40%.
The JV would enable IWH to leverage on its Chinese partner’s strength in mixed commercial development, including high-end hotels and residential towers, to reshape its waterfront land in Danga Bay and Tebrau Bay.
“We’ve undertaken urban development in over 80 cities throughout China. We’re keen to share the experience with IWH as our long-term JV partner and help transform Iskandar Malaysia into an international destination,” said Greenland group executive vice-chairman Xu Jing.
This is Greenland’s second investment in Iskandar Malaysia.
In April 2014, Greenland signed an agreement with IWH to jointly develop 13.6 acres in Danga Bay for RM600mil, comprising an RM2.2bil integrated mixed-property project, which includes the recently launched Jade Palace luxury condominiums.
Source: http://www.thestar.com.my/
Monday, 22 December 2014
Malaysia will charge RM20 VEP fee for foreign registered vehicles from Singapore
Malaysia will implement the charge of RM20 (S$7.60) in vehicle entry permits (VEP) for foreign-registered vehicles coming in from Singapore from around the middle of next year.
Deputy Transport Minister Abdul Aziz Kaprawi said the imposition of the fee was approved by Prime Minister Najib Razak in July and was planned to take place in January.However, the VEP’s implementation has been postponed due to the needs for detailed preparations to be done, especially the installation of special devices at the two entry-points in the state.
“The Transport Ministry is working out details of the VEP’s implementation at the two entry-points in Johor, which is the Causeway and the Second Link, before it is enforced,” said Abdul Aziz Kaprawi.
A round trip to Malaysia using the Causeway now costs about $13.10 – more than five times the cost before changes of toll charge by the Singapore and Johor government on Oct 1. The cost of a similar trip using the Second Link in Tuas remains unchanged at $12.40.
Singapore charges $35 VEP a day for four-wheel vehicles, up from $20 before Aug 1.
Current Johor implementation of foreigner VEP is response to Singapore revision of VEP from Malaysia into Singapore which is take effect August 1, 2014.
Malaysia also plans to charge VEP fee for foreign registered vehicles enter from Thailand and Brunei. The VEP rates at entry points from Thailand and Brunei will be announced once Johor’s system is up and running smoothly, he added.
Singapore’s Ministry of Transport is studying Malaysia’s move to impose a Vehicle Entry Permit (VEP) fee of RM20 (S$7.55) for foreign vehicles from the middle of next year and will respond “in due course”, reported Channel NewsAsia.
Sunday, 26 October 2014
Angry Birds Park to open Friday in JB
JOHOR BARU - South-east Asia's first indoor Angry Birds Activity Park will be opened to the public on Oct 31.
Fans of the animated bird game will be delighted to find fun-packed games, activities and entertainment such as the Lazer Bird Shoot, Red Bird Goal, Piggy Shooting Gallery and Captain Black Bird Ship at the park located within the Komtar JBCC shopping mall here.
At the media preview session here on Sunday, Damansara Asset Sdn Bhd executive director Yusaini Sidek said the park was a joint venture with the founder of the bird game Finland-based Rovio Entertainment Ltd.
"Fans in Malaysia and neighbouring countries can now immerse themselves in the world of Angry Birds through fun and interactive physical and educational activities," he said.
Tickets are priced at RM75 per entry but for MyKad or MyKid holders, the tickets are priced at RM60. A variety of tickets from a single pass, family passes to unlimited annual passes are available.
The park is located at the mall's third floor and will be opened from 10am to 10pm daily. Children below 10 years old must be accompanied by an adult at all times.
Angry Bird Park is the third theme park to be open after Legoland theme park and Hello Kitty theme park at Nusajaya.
Fans of the animated bird game will be delighted to find fun-packed games, activities and entertainment such as the Lazer Bird Shoot, Red Bird Goal, Piggy Shooting Gallery and Captain Black Bird Ship at the park located within the Komtar JBCC shopping mall here.
At the media preview session here on Sunday, Damansara Asset Sdn Bhd executive director Yusaini Sidek said the park was a joint venture with the founder of the bird game Finland-based Rovio Entertainment Ltd.
"Fans in Malaysia and neighbouring countries can now immerse themselves in the world of Angry Birds through fun and interactive physical and educational activities," he said.
Tickets are priced at RM75 per entry but for MyKad or MyKid holders, the tickets are priced at RM60. A variety of tickets from a single pass, family passes to unlimited annual passes are available.
The park is located at the mall's third floor and will be opened from 10am to 10pm daily. Children below 10 years old must be accompanied by an adult at all times.
Angry Bird Park is the third theme park to be open after Legoland theme park and Hello Kitty theme park at Nusajaya.
Source: http://news.asiaone.com/news/travel/angry-birds-park-open-friday-jb
Wednesday, 8 October 2014
Singaporeans flock to JB over long weekend despite increase in toll charges
SINGAPORE: Long weekends are usually when Singaporeans choose to venture across the Causeway to indulge in their favourite pastimes of shopping, eating and other activities, and this Hari Raya Haji long weekend was no exception.
Many Singaporean commuters made trips across the Causeway over the festive weekend, despite the recent increase in toll charges on both sides of the Causeway.
The Immigration and Checkpoints Authority had said it expected heavy traffic across the Causeway during the festive period, and some commuters said they spotted many Singapore-registered cars over the weekend.
The raised toll charges now make it five times more expensive to make a trip to Johor Bahru and back, using the Causeway.
However, some drivers who frequent Johor Bahru - as well as two firms that plan driving tours to Malaysia - said the raised toll charges are unlikely to change their habits as they do not pay the charges every day. They can also choose to share the cost of the charges with passengers in their cars.
Source: www.channelnewsasia.com/news/singapore/singaporeans-flock-to-jb/1400866.html
Many Singaporean commuters made trips across the Causeway over the festive weekend, despite the recent increase in toll charges on both sides of the Causeway.
The Immigration and Checkpoints Authority had said it expected heavy traffic across the Causeway during the festive period, and some commuters said they spotted many Singapore-registered cars over the weekend.
The raised toll charges now make it five times more expensive to make a trip to Johor Bahru and back, using the Causeway.
However, some drivers who frequent Johor Bahru - as well as two firms that plan driving tours to Malaysia - said the raised toll charges are unlikely to change their habits as they do not pay the charges every day. They can also choose to share the cost of the charges with passengers in their cars.
Source: www.channelnewsasia.com/news/singapore/singaporeans-flock-to-jb/1400866.html
Monday, 29 September 2014
Penang's Ivory Properties in RM2bil joint venture in Johor Bahru
PETALING JAYA: Penang developer Ivory Properties Group Bhd has entered into a joint venture (JV) with JB Lee Properties Sdn Bhd for a mixed project with an estimated gross development value GDV of RM2bil in Teluk Jawa, Johor Bahru.
In a filing with Bursa Malaysia, the company said the JV was in line with its strategic plan of expanding its reach outside Penang and securing partnerships to develop strategically located land-bank.
This will be Ivory’s first project outside Penang.
“Johor has been making waves with its current measures to spur economic growth and attract investment,” group chief executive officer Datuk Low Eng Hock told StarBiz. “This land of opportunity has since become a haven for property development for many top-notch property moguls.”
Ivory unit, Ivory Residence Sdn Bhd, and JB Lee have agreed to enter into an unincorporated JV for the proposed development.
JB Lee, which is principally involved in property investment, owns the 7.1-acre freehold agriculture land in Johor Bahru.
“The property will be converted and re-zoned for use as a mixed development of residential and commercial properties,” the company said.
Low said the development would consist of four blocks of residential towers, which would sit above a commercial podium featuring retail outlets.
“However, this is still subject to approval from the authorities,” he added.
Ivory’s participation in the proposed JV will be funded via internal funds or bank borrowings.
Barring any unforeseen circumstances, Ivory expects the proposed JV to be completed by the year 2020.
Ivory is positive on the proposed development despite talk of the property market slowing.
“We are quite positive on this, given the great location, which is especially ideal for professionals working in the Pasir Gudang industrial and logistics hub. Through the JV, the landowner and developer share the risk,” he said.
Moving forward, Low said the company was open to more developments outside Penang, especially in Kuala Lumpur and Johor Bahru.
Source: http://www.thestar.com.my/Business/Business-News/2014/09/26/Ivory-Properties-in-RM2bil-joint-venture-in-Johor-Baru/
In a filing with Bursa Malaysia, the company said the JV was in line with its strategic plan of expanding its reach outside Penang and securing partnerships to develop strategically located land-bank.
This will be Ivory’s first project outside Penang.
“Johor has been making waves with its current measures to spur economic growth and attract investment,” group chief executive officer Datuk Low Eng Hock told StarBiz. “This land of opportunity has since become a haven for property development for many top-notch property moguls.”
Ivory unit, Ivory Residence Sdn Bhd, and JB Lee have agreed to enter into an unincorporated JV for the proposed development.
JB Lee, which is principally involved in property investment, owns the 7.1-acre freehold agriculture land in Johor Bahru.
“The property will be converted and re-zoned for use as a mixed development of residential and commercial properties,” the company said.
Low said the development would consist of four blocks of residential towers, which would sit above a commercial podium featuring retail outlets.
“However, this is still subject to approval from the authorities,” he added.
Ivory’s participation in the proposed JV will be funded via internal funds or bank borrowings.
Barring any unforeseen circumstances, Ivory expects the proposed JV to be completed by the year 2020.
Ivory is positive on the proposed development despite talk of the property market slowing.
“We are quite positive on this, given the great location, which is especially ideal for professionals working in the Pasir Gudang industrial and logistics hub. Through the JV, the landowner and developer share the risk,” he said.
Moving forward, Low said the company was open to more developments outside Penang, especially in Kuala Lumpur and Johor Bahru.
Source: http://www.thestar.com.my/Business/Business-News/2014/09/26/Ivory-Properties-in-RM2bil-joint-venture-in-Johor-Baru/
Friday, 25 July 2014
New Customs, Immigration and Quarantine CIQ toll fee charge
Johor Bahru: Johor state government engineering department announced
that with effectively 1 August 2014, it will adjust the vehicle entry fee using
Johor new Customs, Immigration and Quarantine CIQ from one way charge to two
ways charges.
Current one way charge is RM2.90 from Singapore entry to
Johor. With the new charges, car from Singapore entry to Johor Bahru will raised
to RM9.70, and charge RM6.80 from Johor to Singapore.
Statement from the Johor state engineering department, car,
lorry, taxi and bus will be affected by the new toll fee system, however
motorcycle are excluded.
Based on the statement, new toll fee system only affects the
drivers who are drive thru Johor new Customs, Immigration and Quarantine CIQ,
which is Sultan Iskandar Building BSI. The new toll fee station will be setup
inside the new CIQ, while drivers who are using Eastern Dispersal Link EDL to
and from Johor Bahru, North South Expressway, Permas Jaya and Pasir Gudang will
not be affected.
The statement also revealed that the new toll fee station
will only accept electronic charge, which mean drivers need to buy the
electronic cash card “Touch’ N Go”.
 |
| EDL Toll Fee 2 Way Charges |
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 CoveDeveloper: 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
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| Princess Cove @ Tanjung Puteri |
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.
Friday, 30 August 2013
Country Garden Danga Bay
11 August 2013 is a big day in property market Iskandar
Malaysia. With the massive advertisements through Singapore TV, Singapore
Newspapers, Malaysia TV and Malaysia Newspaper, Country Garden Danga Bay
having its official launch of its Danga Bay new property launch. Free shuttle
bus from Singapore to Danga Bay, free fun-fair rides, fireworks display and
free yacht a trip at the show flat site and its advertisements campaign attract
many Singaporeans home buyers and Malaysians home buyers, and has property
sales of over thousand units on offer, with 25% of them snapped up by
Singaporeans.
Country Garden Danga Bay iskandar project is located in the
Iskandar Malaysia Flagship A, Johor Bahru. It is just 3 minutes ride
away from the Malaysia-Singapore Causeway and CIQ (Complex of Immigration and
Quarantine). The property developer of Country Garden Danga Bay is Country Garden Group, a well known property
developer from China. Country Garden bought the Danga Bay commercial land
parcel in this early year at RM300 plus to develop these mix developments iskandar project with expected Gross
Development Value GDV of 8 billion.
Country Garden Danga Bay features 9000 units of condominium on
the waterfront coastal line ranging from 400 s ft to 1,400 sq ft. Within this iskandar
project will have shopping mall, man-made beach and 6 yacth berths. Phase 1 of
Country Garden Danga Bay slated to be complete by 2017.
A representative for Country Garden said that 40% of the home buyers
are Malaysian, 25% are Chinese nationals, 25% are Singaporean, and the
remaining are other nationalities. Many home buyers were attracted by the
Country Garden Danga Bay new property launch affordable and relatively low property prices. The average property
prices is about RM800 per sq ft. Comparing to average RM1000 per sq ft by its
competitor, Capri which is located next to Country Garden, Country Garden have
more selling points and better property prices which increase and enhance the
willingness for home buyers to buy either for the purposes of investment, stay
or vacation.
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| Country Garden Danga Bay |
Thursday, 29 August 2013
Tourism Industry
Tourism Industry
Tourism is a key driver to
development and a major creator of jobs across national and regional economies, including spurring the growth of related sectors, such as
retailing, hotel and resort operations, food manufacturing, construction and
services. Tourism also is the direct foreign currency earner and contributor.
Service industry is identified as
the fastest growing industry over the next 20 years in Iskandar Malaysia.
Service industry is expected to contribute from 50% in 2005 to 57% in 2025 of Gross
Domestic Product (GDP). Within service industry, tourism industry Gross
Domestic Product GDP is expected to grow from 8% in 2005 to 12% in 2025 with
average growth of 9.6% per annum and job creation of 16,340 jobs. Most of the
sub-sectors create significant job opportunities, offering high value job
opportunities such as hotel managers, food and beverage (F&B) service
staff, tour managers and theme park managers.
Capitalising
on global tourism trends, budget airlines and budget hotels mushrooming, and
Malaysia’s tourism advantages,
the government and private sector have jointly collaborated to accelerate the
further development of Iskandar Malaysia’s tourism sector. Tourism Iskandar
Malaysia focuses and reinforces the unique local characteristics and heritage
features, and to preserve as well as enhance its natural environment for
eco-tourism and medical tourism.
Seven areas have been identified by
Iskandar Malaysia tourism:-
1. Theme Parks and Family Entertainment Centres
Malaysia first indoor family theme
park, Sanrio Hello Kitty theme park and Legoland theme park, the
Asia first Legoland theme park invested and completed at 2013. Both theme parks
have received break record of tourists arrival since its operation especially
on the weekend and holiday seasons.
2. History, Heritage, Arts and Culture
Johor government has taken integrated
approach to develop and promote Johor’s rich history and culture. The iconic
Sultan Ibrahim Building at Bukit Timbalan will be the focal point. Government also
investing to redevelop Johor Bahru City centre into a new vibrant city centre
with water canal built.
3. Eco-tourism and Homestays
Iskandar Malaysia has close to 2,000
hectares of national parks, forest reserves and wetland. The main promoted site
is Ramsar sites of Johor. Ramsar cover wetlands surrounding Sungai Pulai, PulauKukup and Tanjung Piai National Parks. Pulau Kukup is one of the largest
uninhabited mangrove islands in the world. Homestays gained popularity amongst
international visitors who want to experience local Johorean culture and
customs at an affordable price. Eco-tourism is an important tourism for the
learning and raise up the environmental protection mindset.
4. Food, Dining and Shopping Attractions
Malaysia, comprising of 3 major
ethnics Malay, Chinese, and India with few minors ethnics has rich of food
varieties and famous to the world. Iskandar Malaysia taken advantages of its
location near to Singapore, is a popular shopping and dining destination for
tourists especially from Singapore. It offers more a more affordable range of
goods and services as well as wide variety of culinary selections.
5. Outdoor activities, Events and Recreational Tourism
There are 15 established golf
courses available within Iskandar Malaysia. Johor Motorsport Circuit is
available for car and motor racing enthusiasts. There are also events like
Johor International Kite Festival, Iskandar Malaysia Rugby Challenge and World
Marching Band competition yearly.
6. Medical Tourism
The medical tourism sector is poised
to experience high growth because of the increasing demand for more specialized
treatments and sophisticated medical facilities. The new upcoming healthcare medical
center in Iskandar Malaysia are Regency Specialist Hospital, Columbia Asia
Hospital, AFIAT Healthpark, and development of a wellness township.
7. MICE and Accommodation
MICE (Meetings, Incentives,
Conferences and Exhibitions) in Johor, currently caters largely to the national
events market segment, with conference packages offered by city hotels. Persada
Johor and Danga Bay Convention Centre are amongst the major purpose-built MICE
convention centers.
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| Tourism Malaysia |
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| Tourism Malaysia |
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| Tourism Malaysia - Multi Cultures and Customs |
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| Tourism Malaysia - Multi Ethnics Delicacy |
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