A firm controlled by Singapore billionaire Peter Lim has dropped plans to build a township in Iskandar Malaysia and will instead develop a healthcare city beside the upcoming Thomson Iskandar medical hub. Rowsley, a Singapore-listed real estate company, announced on Tuesday (Sep 22) that it has received “favourable response” from the Johor Head of State to reconceptualise Vantage Bay from a...
Iskandar Malaysia
The property oversupply situation in Iskandar Malaysia, Johor, is "likely to get worse before it gets better", said Maybank Investment Bank's research wing in a report, with property values in an increasingly crowded development space possibly declining over the medium term. In a research note issued by the Malaysian bank on Tuesday (Apr 14) urged investors to be cautious about the region, noting...
The Iskandar region is facing a home supply glut due to a large number of projects led by Chinese developers, which could compress rental yields down the line, said the head of Malaysia’s national representative body for property developers. “Over the past 12 to 18 months, we’ve seen developers from a certain country introducing a lot more units than Malaysian and Singaporean developers usually...
Despite lingering concerns about shrinking cost advantages and a lack of skilled labour in Iskandar Malaysia, the developers of a new industrial estate have said the special economic zone remains a compelling choice for Singapore companies to expand or relocate to amid land and manpower constraints at home. Nusajaya Tech Park will be the latest addition to the Iskandar economic infrastructure when its...
Singaporeans seemed undeterred by the recent property tax rules announced by the Malaysian government. More than half of the 192 indicative bookings for the latest project in Medini Iskandar -- Paradiso Nuova -- came from Singaporeans. Its developers say they are confident that the Medini properties will be exempted from the new cooling measures but analysts note that it might be best to wait for...
Property prices in Malaysia's southern Johor economic region, also known as Iskandar, are expected to stabilise following property cooling measures announced in October's budget. With growth averaging 8 per cent a year, Iskandar has attracted over US$40 billion of investment since 2006. Property and manufacturing, accounts for 44 per cent of the total investment. Buoyed by foreign buying, especially...
Johor, whose Iskandar region has been a hot favourite with Singaporean investors, plans to impose a tax of 4 to 5 per cent on foreigners who buy property in the state to curb speculative fervour, but analysts say demand from Singapore has already been slowing in recent months amid an increasingly uncertain external environment. Mr Ku Swee Yong, Chief Executive Officer of Singapore-based consultancy...
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...
The Association of Small and Medium Enterprises (ASME) has scrapped a plan to build an industrial park for SMEs in Malaysia's Iskandar region. However, ASME said it was looking into other ways to help SMEs cope with rising costs in Singapore. Over the past year, many business groups in Singapore have organised trips to Iskandar to explore expansion and relocation opportunities. In December 2012, the...
More property investors are giving Singapore a miss and are snapping up homes in Iskandar Malaysia instead after the government raised the additional buyer's stamp duty (ABSD) earlier this year. Real estate agencies Propnex and OrangeTee said they have seen an increase in sales transactions and enquiries for homes in Iskandar Malaysia in Johor Bahru, and a lot of that demand is from Singaporeans. In...