Strong demand from S’pore for Iskandar residential development

There has been strong demand from Singapore for a residential development in Iskandar that is being constructed by Pulau Indah Ventures (PIV), a 50:50 joint venture between Temasek and Khazanah Nasional.

According to a statement from the developer, out of the 1,570 applications for Afiniti Residences, around 500 have come from Singapore.

Afiniti Residences is a 147-unit premium strata residence across 21 levels, which is part of a five-acre mixed-use development close to Legoland Malaysia and the Mall of Medini. Units are priced at RM850 (S$344) to RM1,000 per sq ft, and construction of the entire development is scheduled to be completed by the end of 2015.

PIV said it has not received any inquiries from registrants about the announcement over the weekend that the Johor state government plans to raise tax rates for foreigners owning properties there.

Balloting for the units will take place this weekend.

Source : Today – 5 June 2013

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