18 October 2014

Iskandar Malaysia Update - October 2014

My Notes

Iskandar Malaysia experienced a change of taste by investors as more investors targeting landed residential or industrial projects instead of those luxury high rise project near to Johor Bahru custom such as Danga Bay. I believe that some investors may worry about the rental market once all the projects completed by 2015 - 2017. 

The recent news on toll charge rise in between two countries may deter some residents who already bought the houses in Iskandar Malaysia to move back and stay here. The only catalyst that I could think of is that the RTS (Rapid Transit System) location at Bukit Chagar was confirmed by Malaysia government recently. It may still take some time for both governments to confirm the detailed plan such as whether it's built under the undersea tunnel or over a bridge and to start the bidding of the project soon. 

So far I still do not really notice a lot of high pay salary jobs created in Iskandar Malaysia. Hopefully the state government and IRDA could do more and attract foreign investment that could pay a good salary to residents here. 

I believe that Senai International airport is under-utilized as the flight schedule is not as busy as its neighbor - Changi airport or KLIA. Majority of foreigner tourists that visiting Legoland in Iskandar Malaysia would still find flying to Kuala Lumpur or Singapore and take a bus to Legoland is the only way to do so. 

The latest news as below:
  1. Iskandar Malaysia has secured investments worth RM10 billion in the third quarter of this year, bringing the total cumulative committed investments since its inception in 2006 until Sept 30 this year to RM156.35 billion. Link here.
  2. ISKANDAR Malaysia (IM) has come under heavy fire in recent weeks from analysts, valuers and the media for the apparent free fall of the property market here. They claim developers who were eager to make their presence felt in IM early this year are now beating a retreat because prices have slumped to an untenable level. Link here.
  3. KUALA LUMPUR: EcoWorld Development Group Bhd has expressed interest to subscribe to a 30 per cent stake worth RM562.5 million in Eco World International Bhd, a real-estate special purpose acquisition company. Link here

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