ISKANDAR DEVELOPMENT REGION | Johor ( Southern Johor ) | General News & Updates

[rizalhakim]

GAIM seeks to invest more in Iskandar
By THE STAR

The Macau firm has just acquired two condo blocks there for RM200mil

JOHOR BARU: Global Asia Investment (Macau) Ltd (GAIM) is looking to invest in more property projects in Iskandar Malaysia following its initial foray into Johor Baru market.

Chief executive officer Charlie Taka said the prospects in Iskandar Malaysia were good and the company wanted to benefit from long-term growth of Malaysia’s first economic growth corridor.

Headquartered in Macau, GAIM is an asset-building consulting company with 10,000 members. It assists its clients, who are mostly Japanese, in investing overseas.

“Iskandar’s close proximity to Singapore and its strategic location in the region is the major selling point to attract investors from all over the world,” Taka told StarBiz at the ground-breaking ceremony of Molek Pine Tower 3 project here recently.


Berinda Group chief executive officer and Tanjung Bintang group managing director Frank Goon Swee Kheong (right) briefing Johor Baru mayor Jaafar Awang (centre) and Charlie Taka on the Molek Pine 3 Tower.

He said like Chinas’ Shenzhen, which benefitted from the economic spillover of Hong Kong and Macau, Iskandar would benefit from Singapore’s position as an international trade and financial centre.

He expects Iskandar to be fully developed in 10 years although Iskandar Regional Development Authority, under its Comprehensive Development Plan, has set a target for the economic corridor to become an international metropolis in 2025.

Meanwhile, GAIM has purchased the two condominium blocks at Molek Pine Tower 3 from Tanjung Bintang Sdn Bhd for RM200mil. The blocks would be used for its “Malaysia My Second Home” programme for its Japanese clients.

The project comprises a 28-storey tower block with 212 units and a six-storey block with 36 units on a 2.42ha site in Taman Molek.

The units will have built-up areas of 1,300 to 2,300 sq ft. The condo, with selling price from RM500,000, is expected to be completed in two years.

It is being developed by Tanjung Bintang, a unit of the Berinda Group, which in turn is a property development arm of the Kuok Group. Taman Molek was launched in 1990 and now has about 5,000 residential and commercial units.

“With European and the US economies still have a long way to recover and Japan’s economy not in a good shape either, we are focusing on China and Asean countries for investments,” said Taka.

He said GAIM would look at several options when investing in Iskandar including joint ventures with local partners, buying properties en bloc and acquiring stakes in companies.

Taka said apart from Iskandar, the company also had property investments in Kuala Lumpur and Penang.

GAIM, which has a revolving fund of RM500mil, has similar investments in Canada, China, Cambodia, Europe, Hong Kong, Japan, Macau, Thailand, the United States and the Philippines.

[jb2020]

View of medium term access (ciq) n jb city from Suria City Hotel

[nazrey]

Coastal Highway connecting Johor Bahru - Danga Bay and Nusajaya via Taman Perling, Bukit Indah
image hosted on flickr

http://www.flickr.com/photos/johor_r...te/5394706732/

[sc4]

Nice.....JB is really transforming well...

[Vince]

Originally Posted by sc4

Nice.....JB is really transforming well...

LOL transforming well?...Try living here, then you can tell us.

[nazrey]

Originally Posted by nazrey

Bandar MSC Cyberport



Bandar MSC Cyberport, the ICT flagship of Iskandar Malaysia, is a new mixed development project to be developed on a 150-acre freehold land in Indahpura, Kulai which has been identified as the MSC Malaysia Cybercity in Johor. It is located within the area of Kulai and Senai, about 35 kilometres north-west of Johor Bahru city centre and surrounded by a number of established and on-going residential developments.

The proposed Bandar MSC Cyberport will be developed in 3 phases, starting from 2009 over a 8-year period with an estimated Gross Development Value (GDV) of USD341 Million (RM1.16 Billion). Phase 1 will cover 31.24 acre and its GDV is estimated at USD135 Million (RM460 Million). The phase 1 development is expected to commence by 2009 and complete by end of 2011.

MSC Cyberport had recently signed a MoU with Sunil Mantri Realty Ltd, a leading Special Economic Zones Developer from India. About USD100 Million (RM324 Million) investment is expected to be injected from the Mumbai-based property developer to develop, construct and market Bandar MSC Cyberport in Kulai.

Bandar MSC Cyberport is designed to have world-class infrastructure and clustering effect that would create the enabling environment for technopreneurs to nurture and businesses to grow. It will be the place to work, live and play whereby business, living, environment and recreational activities seamlessly converge within a vibrant IT Cybercity. Strategically located at the meeting point of the North-South Highway and Second Link Highway, Bandar MSC Cyberport is accessible approximately half an hour away from Singapore and a 3-hour drive from Kuala Lumpur.

Besides its convenient accessibility, Bandar MSC Cyberport will offer quality facilities and state of art infrastructure which includes service apartments, commercial & office space, R&D centres, cyber incubators and transport hub. Living in the new township will offer a new lifestyle of interactive convenience with a fully networked community with broadband access and wireless local area network.

Bandar MSC Cyberport Phase 1, Kulai
Developer: Sunil Mantri Ltd of India, MSC Cyberport Sdn Bhd and Kumpulan Prasarana Rakyat Johor
Development Value: RM1.16 billion
Architect: ATSA ARCHITECTS SDN BHD
Website: www.cyberport.cc

Kulaijaya projects to deliver economic benefits
Friday February 11, 2011
http://thestar.com.my/metro/story.as...sec=southneast

KULAIJAYA: Large-scale projects being implemented in Kulaijaya will bring physical transformation in the district and economic benefits to the people, said Johor Menteri Besar Datuk Abdul Ghani Othman.

He said these projects included Bandar MSC Cyberport, the Johor Premium Outlets shopping centre in Indahpura and the Hi-Tech Park in Senai.

These projects, which resulted from the efforts of the state government, were expected to be completed this year, he said in his speech at a Chinese New Year reception on Tuesday.

The first phase of Bandar MSC Cyberport is being developed at a cost of RM500 million by MSC Cyberport Sdn Bhd.

Johor Premium Outlets is a joint development by the Genting Group and Simon Property Group of Indianapolis, United States, at a cost of RM150 million.

The Senai Hi-Tech Park is being developed by Senai High-Tech Park Sdn Bhd, a subsidiary of Senai Airport Terminal Services Sdn Bhd (SATS) under the MMC Group of Companies, at a cost of RM515 million. – Bernama

[sc4]

Originally Posted by Vince

LOL transforming well?...Try living here, then you can tell us.

I've not lived there, so I don't know. I'm just commenting it on a outsider's point of view which of coz may differ from you locals. But at least things are moving, from what I can see solely from the pics....

[jb2020]

yupp. iskandar malaysia is progressing quite well base on my observation, especially the infrastructure projects.

[Vince]

Originally Posted by sc4

I've not lived there, so I don't know. I'm just commenting it on a outsider's point of view which of coz may differ from you locals. But at least things are moving, from what I can see solely from the pics....

Development is very haphazard, and messy everywhere. Some projects drag on for years or are too slow to complete. There are too many unkempt detours on the roads, causing unnecessary traffic pile-ups. Nightmare to be a pedestrian as there is dust everywhere and no proper sidewalk. Nice green parks are not very common and getting more rare. Even parks that used to be nice are undermaintained now, thus dissuading citizens from going. I was almost late for an Air Asia flight to KL couple of weeks ago just because of the huge traffic jams early Monday morning going to Senai airport due to the construction of the interchange there that takes forever. Now would you consider this to be developing well? Can't say about JB 10 years down the road, but it sure is a nightmare at the moment.

[Vince]

Originally Posted by jb2020

yupp. iskandar malaysia is progressing quite well base on my observation, especially the infrastructure projects.

You haven't lived in a much better-managed Malaysian city.......to me, the infrastructure projects have dragged on too long. Haphazard construction never seems to stop for the past 20 years, forever making JB seem like a pioneering town.

[jb2020]

ok2. but at least for me, all of this infra project will give me some hope that in the future (maybe around 2 or 3 years from now), the traffic congestion in jb and it's surburb will be reduce, coz im really tired and fed up to face traffic jam, especially during peak hour.

[aim11086]

Originally Posted by jb2020

ok2. but at least for me, all of this infra project will give me some hope that in the future (maybe around 2 or 3 years from now), the traffic congestion in jb and it's surburb will be reduce, coz im really tired and fed up to face traffic jam, especially during peak hour.

yup...tis project for d future.
tats why at some construction site they will put this sign, 'kesulitan hari ini untuk kemudahan masa hadapan'..hehe..
but it gud if d construction time cn be shorten. so ppl nt suffer for a long time period..

[Vince]

Originally Posted by jb2020

ok2. but at least for me, all of this infra project will give me some hope that in the future (maybe around 2 or 3 years from now), the traffic congestion in jb and it's surburb will be reduce, coz im really tired and fed up to face traffic jam, especially during peak hour.

If the authorities don't improve on public transportation and just build more flyovers and highways, there are just going to be more vehicles on the roads and the infrastructure will never catch up with the rate of vehicular increase. The widening of Jalan Tebrau in the 80s and the construction of the ring road around JB downtown were projects to ease congestions...and the result today? KL has been building so many roads and highways and yet there are still so many traffic jams. Why can't JB learn from the examples of other cities? We can't keep doing the same thing and expect different results, this is insanity (quote from Albert Einstein)

[Vince]

Originally Posted by aim11086

yup...tis project for d future.
tats why at some construction site they will put this sign, 'kesulitan hari ini untuk kemudahan masa hadapan'..hehe..
but it gud if d construction time cn be shorten. so ppl nt suffer for a long time period..

I was hoping for that back in the 80s and 90s too.

[ideal jb]

Yeah! For how long already? JB kept experiencing facelift, upgrades, etc. but the truth is they were all poor solutions imo. Nothing great and the future is bleak... always moving ard in circles! the current developments to me are something like an owing to us cos. it shld've been ard ages ago.

And on Monday night b4 Prophet Muhammad’s Birthday i was angry with JB again! All entertainment outlet close and yes even cinema! 2 tots came to my mind, why stop the tourists' dollars from coming in and why expect other races to abide by it! Well, i ended up in Malacca at the Jetty - Arena and hv a great time while JB was a killjoy...

[$jimbo$]

IMHO, JB is a "gone" city... the only hope to revive the Johor state is Iskandar (particularly the west side)...

[daeng_jal]

shhh!!!

most johorean in this forum hate the "west side"

[jb2020]

hahaha.

[ideal jb]

Originally Posted by daeng_jal

shhh!!!

most johorean in this forum hate the "west side"

And you know the Johorean (in this forum or elsewhere) hate it for the right reasons instead of senseless claims, don‘t you? Anyway hope ppl like yourself will fork out money and invest on the west side, perhaps move in too since you like it enough.

[$jimbo$]

Originally Posted by ideal jb

And you know the Johorean (in this forum or elsewhere) hate it for the right reasons instead of senseless claims, don‘t you? Anyway hope ppl like yourself will fork out money and invest on the west side, perhaps move in too since you like it enough.

Just curious, what are the "reasons"? Care to share?