Iskandar Malaysia driving property market in Johor

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  • Saturday, 23 Feb 2013

COMPETITION in the Iskandar Malaysia’s property market is getting intense as more and more property development projects are coming up in South Johor.

The Johor property market also benefited from Iskandar as demand for high-end residential properties are on the rise in South Johor in recent years.

“Iskandar will drive the property market in Johor in many years to come based on the development taking place over the last six years,’’ SP Setia Bhd general manager property division (South) Hoe Mee Ling said in an interview with MetroBiz.

She said the completion of several catalytic projects was a boost for the property market sending the strong signal to investors on growth prospects in Iskandar.

Among the notable projects worth mentioning include the Johor State New Administrative Centre in Kota Iskandar, Legoland Malaysia Theme Park, Johor Premium Outlets and Newcastle Medical University Malaysia.

Hoe said construction of new highways and upgrading of existing roads also improved accessibility and connectivity within Iskandar.

According to Iskandar Regional Development Authority, from 2006 until December 31, 2012, Iskandar had received RM106.3bil cumulative committed investments of which 63% are from domestic investors and 37% from foreigners.

“We are optimistic that the property outlook in Iskandar remains positive and will continue to offer quality products to our customers,’’ she added.

On that note Hoe said, the company had invested about RM8mil on its new sales gallery at the Setia Welcome Centre in Taman Setia Tropika in Kempas, Johor Baru.

The one-stop centre is located on a 1.95ha site and the five-storey complex encompasses of 10,279 sq ft Setia Convention Centre, 28,890 sq ft office space and 385 parking lots.

She said the decision to incorporate its sales gallery at the new centre was to better serve its existing and prospective customers in a more conducive environment.

Hoe said the company had received positive response from its customers and many of them gave their thumbs-up to the modern and sleek-looking sales gallery.

“They like the new sales gallery and describe the look as more of a hotel lobby or a lounge at an airport,’’ she said.

Hoe said today’s customers were becoming demanding and they wanted more that just an ordinary looking sales gallery to serve their needs.

Apart from showcasing the on-going projects at Taman Setia Tropika, the 7,540 sq ft sales gallery also features projects by SP Setia in Australia, China, Singapore, United Kingdom and Vietnam.

Senior manager (sales and marketing) Michelle Lee said the 10,279 sq ft convention centre would be used for the property exhibitions for the company’s projects in Malaysia and overseas.

“We are also looking at renting the convention centre to companies planning to hold their seminars or conferences or even weddings in the near future,’’ she said.

Lee said the company’s operations in Iskandar from the from the planning, contracts, administrative and finance departments had also been centralised at the centre.

However, she said the technical, sales and customer care departments remained at the company’s respective offices in Bukit Indah, Setia Eco Gardens, Setia Indah and Setia Cascadia.

Lee said other special features at the complex were the first drive thru Kenny Rogers and Wendy’s Burger in Asia and the first Papa John’s Pizza outlet in Johor Baru.

SP setia on-going projects in Iskandar are Bukit Indah with remaining 40.87ha land left for development, Setia Eco Gardens (193.03ha) and Setia Tropika (74.86ha). Others are Setia Eco Cascadia (60.29ha), Setia Indah (9.30ha), Setia Sky 88 (0.55ha), Setia Business Park (16.18ha) and Setia Business Park II (70.41ha).

Setia Welcome Centre opens from 9am to 9pm on weekdays and until 6pm on Saturdays, Sundays and public holidays.

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