74% of Nusajaya foreign home buyers are Singaporeans

Singaporeans make up 74 per cent of foreign home buyers in the Nusajaya township in Johor’s Iskandar region, according to Malaysian property developer UEM Sunrise.

UEM Sunrise is the master developer of the Nusajaya township.

Among its flagship developments in Nusajaya are East Ledang, a garden-themed luxury residential development, and the Teega and Imperia on prime waterfront land in Puteri Harbour.

With a market capitalisation of about S$4.7 billion, UEM Sunrise is one of the largest Malaysian property developers by market value.

Formerly known as UEM Land Holdings, the Khazanah-linked firm was rebranded in June to reflect its acquisition of developer Sunrise Berhad.

Speaking to reporters in Singapore for the first time since the name change, its managing director and CEO Wan Abdullah Wan Ibrahim said projects worth a gross development value of S$1.6 billion have been launched under phase 1 of its developments in Nusajaya.

It will now focus on phase 2, which includes a tech park with Singapore developer Ascendas and the Motorsports City with Singapore billionaire Peter Lim’s FASTrack Autosports.

UEM said it still has 5,442 acres in its landbank for pipeline developments in Nusajaya.

Source : Channel NewsAsia – 19 Sep 2013

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