X Close


Published: Saturday March 23, 2013 MYT 12:00:00 AM
Updated: Wednesday April 24, 2013 MYT 1:49:01 PM

Carnival-like launches a hit

PROPERTY launches in Iskandar Malaysia are becoming more carnival-like nowadays as competition in the property market in South Johor picks up.

Many developers pick Saturdays and Sundays to launch their new projects or new phases in order to` attract a big crowd.

Apart from offering discounts for early birds, some developers also throw in free gifts such as air-conditioned units or even kitchen cabinets.

Guests are often treated to free food and beverages while children who come along with their parents will be entertained with fun-filled activities such as magic shows and colouring contests.

“The weekend is the best time for property launches as many of the potential buyers will usually be free,” IOI Properties Bhd senior general manager Simon Heng told MetroBiz.

He said normally, Malaysian and Singaporean property buyers bring along their family members, relatives or friends on their house-hunting trips.

Heng said this was good because those who tagged along might also consider purchasing property.

He said many Singaporean buyers looking for private residential property in Johor Baru normally came over on Saturdays or Sundays and therefore, it made sense to conduct new launches on the weekends.

Heng said this at the opening of the developer’s RM3mil sales gallery, IOI Galleria, in Jalan Kempas Lama, Johor Baru, by the company’s executive chairman Tan Sri Lee Shin Cheng.

Also present at the event were executive director Lee Yeow Seng, acting general manager Lou Fu Leong and marketing and sales department (property division) senior manager Kelvin Tang.

In conjunction with the opening of the sales gallery, the company also launched the first tower block of D’Summit Residences @ Johor Baru in Taman Kempas Utama.

The 35-storey block consists of 850 one, two and three-bedroom units with a built-up area of 572sq ft, 764sq ft and 904sq ft, respectively, priced between RM350,000 and RM800,000 each.

Altogether, the development will consist of six blocks with 3,150 condominium units with a gross development value of RM240mil.

“D’Summit is the largest ever multi-storey residential towers in the Kempas-Tebrau growth corridor and we are banking on its strategic location to attract buyers,” he said.

Heng added that Kempas had been designated as an integrated public transportation hub for Iskandar, making the units a good buy for investors.

He said that with the Rapid Transit System to link Johor Baru and Singapore already in the pipeline, it would attract Malaysians working in the republic as well as Singaporeans looking to buy residential property in Iskandar.

Heng said the company was upbeat on the property outlook in Iskandar as it had helped to push the demand for property in South Johor in the past six to seven years.

“As Iskandar is developing and progressing, it will continue to attract domestic and foreign investors. Therefore, demand for property will also pick up,” he said.

Meanwhile, Lou said Singapore’s latest measures in January to cool the property market in the republic would benefit developers in South Johor.

He said average Singaporeans and Singapore permanent residents were finding it “almost impossible” to own private residential property in the republic after the measures were implemented.

Lou said Johor Baru was the next best location for them.

Unofficial statistics showed that there are about 200,000 Singaporeans living in Johor Baru and they commute daily between Johor Baru and the republic to work.

Marketing and sales department (property division) senior manager Kelvin Tang said demand for high-rise residential property in Iskandar was rising.

“The last four to five years have seen many new high-rise residential property projects launched in Iskandar and many developers are cashing in on the trend,” he said.

Tang said buyers in South Johor were now attracted to high-rise living in apartments or condominiums mainly due to the easy access to a host of amenities and facilities.

The amenities include a swimming pool, gymnasium, nursery, multi-purpose hall, children’s playground, laundrette and food and beverage outlets.

“Another strong selling point is the gated and guarded concept as residents know that they will have a peace of mind,” he said.

Tang said like in the Klang Valley and Penang, many of the high-rise condominium projects in South Johor are also offering the concept of resort living.

He said while nothing much could be done to the structure or the floor area of high-rise condominium towers, developers were now focused on landscaping and related elements.

“You will see tropical gardens, Zen concept or even Balinese water features at new condominium projects,” said Tang.

He said with the hike in land prices in Iskandar, more developers in South Johor were now embarking on high-rise residential projects to fully utilise land space.

IOI Properties will be launching its new high-rise residential project D’Prominenz, which consists of 2,000 condominium units on a 4.04ha site in Plentong, Johor Baru, in June.

For details on Kempas Utama, call 07-558 2233, email kempasutama@ioigroup.com or visit www.ioijohor.com.

Tags / Keywords: Community, News, Property, ioi properties bhd, kempas utama, d summit, iskandar malaysia and simon heng


Most Viewed

Powered by