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Thread: Iskandar condo being built by S'pore developers selling well

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    Default Iskandar condo being built by S'pore developers selling well

    http://www.straitstimes.com/archive/...-well-20140412

    Iskandar condo being built by S'pore developers selling well

    Published on Apr 12, 2014


    A LUXURY condominium in Malaysia's Iskandar region being built by Singaporean developers has met with strong demand.

    Puteri Cove Residences by local developers Pacific Star and DB2 has sold 83 per cent of 450 units released to the public within a week of its launch.

    The buyers represented over 20 nationalities, but the majority - 60 per cent - were Singaporean, followed by Malaysians and Indonesians.

    Units facing the private marina in Puteri Harbour and the sea were the most popular, with almost all taken up.

    Mr Glen Chan, chief operating officer at Pacific Star, said that the sales performance "attests to the attraction and saleability of our project".

    The units are priced between RM1,180 and RM1,580 (S$457 and S$612) per square foot and range from one- to four-bedroom units of 600 sq ft to 4,100 sq ft each.

    Of the project's three high-rise towers, only two are available for sale.

    Pacific Star said in a statement that it is in negotiations with "an international five-star class hotel management company" to eventually house high-end serviced residences in the last tower, to cater to expatriates working in Iskandar.

    The 340,000 sq ft site will also include four low-rise blocks of Soho (small office home office) and loft units, a mall, and amenities such as tennis courts and water features.

    A waterfront promenade of clinics, eateries, retail and other businesses faces the project, which is located in Puteri Harbour, midway between the Causeway and the Second Link at Tuas.

    The project will have 600 residential, 56 Soho and 340 serviced residential units when fully constructed, which is expected to be by June 2017.

    Ms Lai Mei Jun, 33, a Singaporean who is buying Malaysia property for the first time, snapped up two units.

    "My two units will serve as a weekend home and also as an investment which I can pass on to my children when they are older," she added.

    Recent property cooling measures introduced by Malaysia's government in October last year have not dampened sales, Pacific Star said in a statement.

    "We believe our buyers are looking at the long-term growth potential in the Iskandar region," said Mr Chan.

    He also highlighted collaborations between the governments of Singapore and Malaysia as a sign of the region's potential.

    Recently, the prime ministers of both countries met in Putrajaya, Malaysia to discuss progress on large-scale infrastructure projects such as the Kuala Lumpur-Singapore high-speed rail, and a rapid transit system that will lead from Singapore to Johor Baru.

    TEE ZHUO

  2. #2
    Property Investor

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    Cant believe it, > RM$1180psf. Holy Cow.....

  3. #3
    Junior

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    Is it freehold or leasehold?

  4. #4
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    it's freehold...how about almas suites?

  5. #5
    OCR properties going to crash!

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    All these cows will be slaughtered by 2019............

    Quote Originally Posted by Royston8H View Post
    Cant believe it, > RM$1180psf. Holy Cow.....

  6. #6
    Junior

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    Quote Originally Posted by Royston8H View Post
    Cant believe it, > RM$1180psf. Holy Cow.....
    Its reaching close to rm1600psf for this project..
    It's priced even higher than those new condos in the klcc area!
    N this puteri cove is in jb! Can u beat that!

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    Quote Originally Posted by fiat500 View Post
    Its reaching close to rm1600psf for this project..
    It's priced even higher than those new condos in the klcc area!
    N this puteri cove is in jb! Can u beat that!
    1180 is close to 1600??????? Wah you damn good at ur numbers ah!!

  8. #8
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    Are those pricing for unit of 600 sqft and below?
    Quote Originally Posted by fiat500 View Post
    Its reaching close to rm1600psf for this project..
    It's priced even higher than those new condos in the klcc area!
    N this puteri cove is in jb! Can u beat that!

  9. #9
    Junior

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    Quote Originally Posted by DC33_2008 View Post
    Are those pricing for unit of 600 sqft and below?
    Those 1500psf+ units are 2 bedder units facing the marina.....

  10. #10
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    http://www.propertyguru.com.sg/prope...reign-property

    Those thinking of buying iskandar or malaysia sky pty please read.

    Quote:

    "Meanwhile, the RM1 million minimum price threshold for foreign buyers in Malaysia is expected to impact investors who bought properties below that amount in Johor.ďThe reason being, from 1 May, overseas buyers can only buy at one million ringgit and above. Letís say you are Singaporean and you have purchased a property in Johor state for RM750,000, there has not been that much capital appreciation yet. Letís say you need to get rid of it fairly quickly for one reason or another, you can only sell to a Malaysian below one million and, honestly, there are not that many Malaysians buying at that kind of price level right now so you could be stuck with something,Ē he added."

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