Optimism in Johor as new projects signal market boost

Malaysia Property Expo 2024 will showcase the latest property developments and investment insights. Johor Housing Development Corporation (PKPJ) chief executive officer Datin Paduka Dr Suhailizan Suliman with REHDA Johor’s committee members checking out the latest property developments at the Johor Mapex 2023.

DEVELOPERS in Johor are optimistic the property market in the southernmost Malaysian state is expected to benefit from several on-going major projects especially in Iskandar Malaysia.

Real Estate Housing Developers Association (Rehda) Johor branch chairman Wong Boon Lang opined the projects will bring positive impacts to Johor including the property sector.

Real Estate Housing Developers Association (Rehda) Johor chairman Wong is optimistic about growth in Johor’s property sector.Real Estate Housing Developers Association (Rehda) Johor chairman Wong is optimistic about growth in Johor’s property sector.

“Our members should not miss the business opportunities and growth prospects brought about by these projects,’’ he said in an interview.

Wong singled out the Johor-Singapore Special Economic Zone (JS-SEZ) and the Johor Baru - Singapore Rapid Transit System (RTS) Link project as the driving factors which will further boost and stimulate Johor’s economy.

He said transportation infrastructure was important for any development project to succeed and that “the RTS Link would be the main future transportation between Johor Baru and Singapore’’.

Wong said land connectivity between Malaysia and Singapore will improve once the RTS Link project was up and running by end-2026.

“Hopefully by then it will be able to reduce the infamous traffic congestion on the Johor Causeway, which has been going on for decades,’’ he said.

Wong added this could attract more visitors and investors from Singapore and the influx of investors into Iskandar Malaysia and would create job opportunities for locals.

He said the influx of investors would create demand for commercial, industrial and residential housing projects to cater for them.

The RTS Link is designed to move 10,000 passengers per hour in each direction between Bukit Chagar in Johor Baru and Singapore’s Woodlands North in Singapore.

Wong added the announcement that the JS-SEZ would further accelerate economic growth within Iskandar Malaysia with both Malaysia and Singapore committed to ensure the success of the JS-SEZ.

“It is a win-win situation for both countries with Malaysia and Singapore complementing each other in the economic field,’’ he said.

Wong said that more domestic and foreign investors were expected to invest in Iskandar Malaysia and developers in the region would benefit from their influx.

“Our members will no doubt seize these opportunities to plan and expand their business in the region brought about by this transformation,’’ he said.

On that note, Wong urged the authorities ought to facilitate a timely approval as all new projects and launches require planning approval, so that the planned building projects can be carried out on time in the grand scheme of things.

He said developers also hoped the financial institutions could also provide the necessary funding to finance their building projects.

Thirty-two developers and three banks are taking part with 78 booths in the Johor Malaysia Property Expo 2024 (Johor Mapex 2024) from May 3 to 5 to be held at Johor Baru City Square shopping complex.

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