Reported in propertyguru.com.sg recently was a piece of news about Iskandar, Malaysia. It quoted a few property experts with their personal expectations for the Iskandar property market. According to the Ishmael Ho, Chief Executive Officer of Ho Chin Soon Research the prices of residential and commercial properties in Iskandar’s Flagship A and B zones would rise significantly. He said that many sceptical customers would regret for not investing there earlier. Ahyat Ishak, the author of the best selling book entitled ‘The Strategic Property Investor’ shared his prediction that the property prices in Iskandar would surpass those from Greater Kuala Lumpur by two-fold during the second half of Iskandar’s 20-year master plan.
In terms of promised investments versus realised, Iskandar Regional Development Authority’s (IRDA) CEO Datuk Ismail Ibrahim revealed that Iskandar received RM202.45 billion in total investments from 2006 to March 2016. Of this, 51 percent or RM103.5 billion has been realised. Ahyat also shared that Pasir Gudang would potentially be the next area of growth. Eco World Development’s CEO and President Chang Khim Wah added that Iskandar’s eastern side is strategically located near several ports like Johor Port in Pasir Gudang and the Port of Tanjung Pelepas. There are continuous enhancements like completion of the Eastern Coastal Highway, Senai Desaru Expressway and the ongoing upgrading works on the Pasir Gudang Highway. This meant that the east side appeals to businesses.
I like Iskandar, as an economic region right next to Singapore. Or as a manufacturing hub to at least ensure both countries’ continue to be competitive versus our bigger neighbouring countries. My personal views some time back. Do note that if Iskandar benefits ONLY Malaysia, it will not be successful. It has to also benefit Singapore. Unfortunately or fortunately, I have yet to buy anything in Iskandar yet. Perhaps the current slowdown may just provide something I could not resist? I will also be personally driving down from KL to Iskandar in July. It’s time I get some sights of the sites and decide. Quoting my good friend, Rozalina, ‘Happy Believing.’
written on 10 May 2016
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