Property developers with large landbanks in Johor – including Mulpha International Bhd, KSL Holdings Bhd, Eastern & Oriental Bhd and Sunway Bhd – stand to benefit from the latest round of cooling measures introduced in neighbouring Singapore.
This was according to a statement by RHB Research, which further highlighted UEM Land Holdings Bhd as being particularly suitable to capture “Singapore money”. UEM Land has a large landbank of 9,000 acres and enjoy strong support from national investment holding arm Khazanah Nasional Bhd.
The research house also listed other factors that will encourage firms to relocate or expand in Johor, stating that Malaysia offers lower interest rates and business costs, while noting Singapore's strong currency.
The Iskandar region will also further boost Johor's prospects, given reports of strong interest levels among Singaporean investors aiming to participate in the development of Johor's upcoming central business district. The proposed project is expected to contribute significantly to Iskandar's property market.
The successful development of Nusajaya into a new residential hub will also bring economic benefits to the state, especially with announcements of cross-border projects at Gerbang Nusajaya.
Among these is the integrated tech park at Gerbang Nusajaya that has been confirmed to start construction by the end of 2013 or in early 2014. Besides increasing population and economic activity, the project is expected to raise UEM Land's future earnings.
Tags: Malaysia, Office for lease, Shop for rent, Income properties
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