Property Prices in Iskandar to Surge for 10 More Years (PropertyguruSg)

Property prices in Iskandar to surge in next 10 years

Romesh NavaratnarajahMay 9, 2016

View of Johor Bahru resize

View of Johor Bahru.

Iskandar could become an investment haven in Malaysia, especially its real estate sector, experts told the New Straits Times.

It is expected to become one of the world’s most prosperous regions in the next 10 years after it was overshadowed by property booms in Penang, Kuala Lumpur, Hong Kong and China in recent years.

In the next 10 years, sceptical consumers will regret not investing there earlier, said Ishmael Ho, Chief Executive of Ho Chin Soon Research. This is because prices of residential and commercial properties in Iskandar’s Flagship A and B zones are expected to rise significantly over this period.

The Flagship A, B and C zones are situated on the west side of the region.

Moreover, property prices there could surpass those in Greater Kuala Lumpur by two-fold during the second half of Iskandar’s 20-year master plan, noted Ahyat Ishak, author of the best-selling book entitled ‘The Strategic Property Investor’.

He attributed this potential price hike to the upcoming Kuala Lumpur-Singapore High Speed Rail (HSR) and Johor Bahru-Singapore Rapid Transit System (RTS).

Asked about the new property hotspots in Iskandar, he said: “We believe the next growth area is Pasir Gudang, which used to be the eastern-most fringed.”

According to Eco World Development’s CEO and President Chang Khim Wah, Iskandar’s eastern side is strategically located near several ports like Johor Port in Pasir Gudang and the Port of Tanjung Pelepas.

“With continuous enhancements on connectivity and accessibility like the completion of the Eastern Coastal Highway, Senai Desaru Expressway and the ongoing upgrading works on the Pasir Gudang Highway, the east side remains appealing to many businesses,” he said.

Meanwhile, 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.

Local investors accounted for 60 percent (RM121.44 billion), while overseas investors contributed the remainder of the overall figure (RM81.01 billion).

 

Mangalesri Chandrasekaran, Editor at PropertyGuru Malaysia, edited this story. To contact her about this or other stories, email mangales@propertyguru.com.my

Message from The Ant (Proverbs 6: 6 to 8)

“Go to the ant, O Sluggard,

Observe her ways and be wise,

Which having no chief, Officer or Ruler,

Prepares her food in the summer,

And gathers her provision in the harvest.”

—————————–Proverbs 6: 6 – 8)

There are 3 major points in this message

  1. THE WAYS OR BEHAVIOR OF ANT
  2.  THE INDEPENDENT SELF DISCIPLINE
  3.  SAVING UP FOR A RAINY DAY

 

  1. Ants are social creatures. They live as a community. One of the main characteristic is net working. Every time an ant meet head on they greet. See a long lines of ants as they move up and down a wall or tree. How they take time to greet each and everyone in front?

Last week while taking bus in Iskandar I met a guy who worked as a chef in Pinewood Studio. From him I gathered these facts. He told me that there were about 1,000 people employed for the filming of Marco Polo 1. Of the people employed the majority were Thai nationals, followed by Australians & New Zealanders.

I wondered why not many locals were employed? Then I remembered the words of Ms Y whose brother got a contract with Pinewood Studio for 1 year. And his contract was terminated after one year without explanation. Ha! Now I think I know the reason. Could it be cheaper to employ Thais at cheaper wages.

So there weren’t much news about Pinewood Studio in the local media. Never mind. MARCO POLO 1 Has Received Good Response in the West. And MARCO POLO 2 Film will be released soon. Their filming for MARCO POLO 3 Series will also commence again.

So Pinewood caters for Foreign employment at the expense of locals. Its market success also is mostly foreign. How does it benefit Iskandar then?

In many ways directly & indirectly. The 1,000 over foreigners will still need accommodation. So demand for houses will increase. And they will spend their earnings among the shopping malls & restaurants in Johor. As things are so cheap here Some Australians are already planning to migrate and stay in Iskandar more permanently. So this will contribute to the Iskandar Property Boom.

So by net working I get to know more about the operations of Pinewood Studio without the need of going there.

In this way of talking to people and networking with them I get to know thousands and thousands of things with little effort. This is how ants survived & prospered.

2) Ants have internal self discipline. They need no guide. No need of given task as they know what they should do. No need of overseer – they don’t need reprimand or threats of punishment to spur them. They are no “lazy ants” – so to say.

3) Prepare her food in the summer.

Ants can anticipate bad times. So they gather up as much food as possible during the good times of summer. Same for the bees – another group of social creatures. Both bees & butterflies visit the same flower to collect nectar. The only difference is this – while the bee stores his food in beehive the butterfly does not. The butterfly dance from flowere to flower all summer. At the first frost of winter all butterflies die instantly. Only bees & ants survive in their hives or nests with ample food stored over the fruitful summer.

 

What is the morale of the Story?

Ants are social creatures. They network for the best information. So must we. Learn to network and gather information from friends and wise people. “He who walks with wise people will be wise”.

Ants have self discipline. Learn to develop your character.

Ants prepare for winter during summer.  So in the youth of summer you must learn to invest for the future old age of winter years. How many youths of today know only present gratification like a butterfly.

They only enjoy life at the present moment without giving a thought of coming winter.

Learn to work, save & invest to compound your interest. It will do wonders in preparation for retirement in later years.

 

Regards,

Calvin

Singapore