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Saturday, May 26, 2012

What the developers say about Iskandar projects

The following are snippers from Klang Valley developers who have projects in Iskandar Malaysia.

Eastern & Oriental Bhd

deputy managing director

Eric Chan Kok Leong

At the end of the day, Singaporeans and people in general, will want a place to call home. At the basic level they want security, quality education, medical attention, sports and recreation, retail, services and conveniences, and opportunities for career and enterprise. You will find all these essential elements in one place, Iskandar Malaysia, without having to pay premium prices of urban locations.

We are offering more than just beautiful homes, we will provide a living environment that promotes total wellness and inspires the pursuit of well-being, The project is positioned as a wellness destination within this region and will cater to an international crowd.

The masterplan for the Medini Integrated Wellness Capital is in the final stages of submission. The 210-acre project, with a gross development of RM3bil, is expected to help the niche developer carved a name for itself in the wellness industry targeted at the super rich.

The idea was mooted by government-linked corporation (GLC) Khazanah Nasional Bhd.

SP Setia Bhd executive

vice-president Datuk Chang Khim Wah

The group has projects totalling 4,590 acres in Johor. About 26,000 of 40,000 landed homes and condominiums have been built so far.

We have 20% of non-Malaysian buyers for our link houses and 30% for our high-end homes. This is according to the quota set by the local Johor government; 95% of these non-Malaysian buyers are Singaporeans. About 30% of these non-Malaysian buyers buy for investments and 70% buy to stay. Other nationalities include Japanese, Germans, Italians and Indonesians.

Our reputation and development concept places an importance on the environment and security. The provision of adequate amenities and gardens or parks appeal to our buyers. A lot of effort has also been put in to address the issue of safety, which is a major concern for Singaporeans. Irda has already set up a task force that includes regular police patrols and fast respond squads on top of auxiliary police personnel being trained to supplement the existing police force.

This shows the serious commitment of the state government in allaying fears of Iskandar Malaysia not being safe.

There is great potential for capital appreciation of properties with so much happening in Iskandar Malaysia, from tourism attractions to education and medical facilities. Improved infrastructures like Johor Baru Eastern Dispersal Link, Coastal Highway, Senai Desaru Expressway has made travelling in Iskandar Malaysia a breeze. The future joint development of a Rapid Transit Link between Iskandar Malaysia and Singapore to enhance connectivity between the two countries will definitely be a push factor. There is a need for international-level service standards and facilities.

Setia's total gross development value (GDV) of properties already build in Johor is RM15bil and total GDV of properties not yet built but will be built is RM9bil.

Mah Sing Group Bhd

group managing director

Tan Sri Leong Hoy Kum

We have been in Johor Baru since year 2000 and currently have four mixed townships as well as an industrial project. Remaining gross development value in Johor is RM1.2bil or approximately 8% of the group's remaining GDV and unbilled sales is RM16.27bil. Our townships are in Skudai, Tebrau and Plentong, while the group has a new industrial project of 206 acres Mah Sing iParc just 1km from the Port of Tanjung Pelepas (Malaysia's second busiest port) and 23km to Jurong industrial estate.

Mah Sing iParc will see its maiden launch this year and is expected to see strong interest from Singaporean buyers as prices in Jurong are about 6 times more, plus Jurong is leasehold (Mah Sing iParc is freehold), and is only 8km from the second bridge to Singapore.

Currently, we have about 10% foreign buyers with the bulk of them coming from Singapore. Our Johor townships, being mainly landed residential homes, have attracted mostly Malaysians who use it for own stay, although some of them work in Singapore and travel daily.

By The Star

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