/// Hot Topic
/// HOT TOPIC
Why are Top Developers and
International Developers Still Jumping Into
Iskandar Malaysia?
The Astaka at Bukit Senyum peaking at 70 storeys high
ISKANDAR, DON’T KILL THE GOLDEN GOOSE
There is a saying that one should not kill the goose that lays
the golden eggs. Iskandar Malaysia (IM) has been the golden
goose for the past two to three years/ OM has brought huge
investments into Johor. According to data from the Iskandar
Regional Development Authority, some RM128 billion has been
committed, of which 44% has been realized.
As investments poured into its infrastructure, people began to
realize its potential as a much cheaper and attractive alternative
to Singapore across the Straits of Johor. With its well-planned
theme parks and educational, residential, commercial and
industrial hubs, IM was beginning to look like a good place for
Malaysians, Singaporeans and foreigners to live, work, and play.
Due to both foreign and local buying, property prices have
doubled over the past two years. Land deals of all shapes and
sizes have been done and new launches snapped up. However,
the two most recent launches tell a very different tale.
UEM Sunrise launched Almas Suites, a SoHo (small office/home
office) development in Puteri Harbour, comprising 546 units. It
is the first of four blocks that includes apartments, offices and
retail outlets. The net average selling price was around RM800
psf, although it was listed as RM895 psf. After one week sales
booking stood at 15%.
Identification of Iskandar flagship zones
26
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