Surprisingly, I did not read this news from a local media. I read it in Straits Times online. Hopefully it’s just a miss rather than local media choosing to ignore it since Iskandar at this moment is only full of negative news of oversupply, no further catalysts and even due to VEP, everyone is o longer driving into Johor Bahru. By the way, all these are as true as what you intend to believe. Please do read and belivee accordingly. According to the article online in Straits Times, Johor Bahru will be transformed from its current state into an international business district to be named the Ibrahim International Business District (IIBD). It was launched by Sultan of Johor, Sultan Ibrahim Iskandar.
This new IIBD will occupy the area located just after the former Johor checkpoint at the end of the Woodlands Causeway. I think one of the most popular mall in the city centre today is City Square. I remember the booths for the MAPEX (Malaysia Property Expo) JB which was held in City Square were quickly taken up and it was hard from to negotiate for a space for my ex company. IIBD hopefully would become the second KL, according to Johor Menteri Besar Mohamed Khaled Nordin. It is after all next to the advanced Singapore. This allows it to provide Singapore businesses with lower costs as well. There are also plans to link the malls and major buildings in the area with overhead pedestrian bridges.
The jewel of the business district is the RM3 billion complex called Coronation Square. 2.6-ha project will have serviced apartments, an office tower, a hotel and retail podium and a “medical suite”. It is not a hospital but will provide facilities for mainly outpatient services. ]I think this will keep a steady stream of patients into Malaysia. Not many but if there are long waits in Singapore, the next best thing would be the private hospitals here in Iskandar. No further details were made available but I think the services apartments may look attractive, especially if IIBD really have a comprehensive plan. I do not think the price per sq ft is going to be low but yes, I think I have no issues to buy and hold for a while until the number of workers increase and the demand for rental or secondary properties increase. Happy deciding.
written on 23 Nov 2015
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