Salam,
Yesterday was another tower launched by Mah Sing for their first iconic tower at iskandar Malaysia. It is located right in the heart of Iskandar Malaysia opposite Pine Studio and minutes away from legoland.
The first phase was done via balloting where you have to pay rm10000 upfront to register for it. Despite the price of about rm 750 psf, the crowd turn up were full and 80% sold out snapped by local and Singaporean.
My analysis:
1. Iskandar Malaysia was well planned by the government to boast tourism and value of johor. A good zoning systems and clear demarcation of Iskandar Malaysia would attract more investor in.
2. Strategic location near Singapore.
Singapore is known for it good economic and established name across the world. This has led to scarsism of land in Singapore which push up the property price up. A study conducted by cimb last year indicate rental in Singapore stood at USD 700 psf compared to Iskandar Malaysia which is around USD 300 psf.
3. 5 minutes drive to Singapore via 2nd link bridge.
Daily commute to singapore is now possible with it close proximity location. I would not be surprise if Iskandar Malaysia will turn into Singapore 2...
4. Major housing developer are in town.
Mahsing, Subway, khazanah, and many more established property player are embarking their portfolios at Iskandar Malaysia. These developers have a very good reputation in term of build quality and new township development. With Khazanah as the mastermind behind Iskandar Malaysia, I would not be surpise that this will be one of the new golden triangle in Malaysia
As a conclusion, Iskandar Malaysia will be the new Shenzhen of Malaysia. A good investment to consider.
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