Can Iskandar position itself as a dominant player in South East Asia? We look to the region and what key developments are taking shape there.
Iskandar, Malaysia is growing at a phenomenal rate. The relationship between Iskandar and Singapore has been compared to Shenzhen and Hong Kong. There are definite similarities there, as to what is trying to be accomplished and the relationship between the two places.
When visiting the region in the southern tip of West Malaysia, just across the Johor Strait from Singapore, it’s impossible not to notice the amount of construction currently taking place. Large cranes are building residential and commercial towers. Universities from around the world are setting up campuses for students in the region, while international medical centres, golf courses, theme parks and shopping centres allure travellers from near and far.
In fact, tourism is playing a huge role in the growth of the region. Attractions include: Legoland, Hello Kitty Town, Horizon Hills Golf & Country Club, Puteri Harbour, Gleneagles Medini Hospital and Premium Outlets Mall to name a few. Not only are tourism attractions and schools bringing people to Iskandar, big business and real estate investment is booming.
Covering 2,217 square kilometers, an area twice as large as Hong Kong and about 3 times larger than neighbouring Singapore, means the potential development opportunities in the region are endless. Iskandar is served by Senai Airport, a hub for Air Asia. However, in order to increase the competitiveness of the area, a new airline, Fly Mojo, will better connect Iskandar with East Malaysia. The region will also be connected tohigh-speedigh speed rail service from Singapore to Kuala Lumpur. The service is due to take just 90 minutes door to door.
Most new developments are being built in the west side of Iskandar within a few kilometres of the coast. One site seeing some of the highest property investment in the region currently, is in and around Puteri Harbour. Public and private marinas with operators such as One Degree 15 from Singapore, are attracting lifestyle buyer’s looking for an alternative to overcrowded and pricey Singapore. The development features numerous restaurants, shops and residential opportunities.
Puteri Cove Residences
Developments such as UEM Sunrise’s Estuari is focusing on eco-living, a concept that the developer states allows them to build in harmony with nature. Set across 394 acres within Puteri Harbour, land and water will be in harmony, taking advantage of the local mangroves that encompass the area. This will be UEM Sunrise’s first landed property development within Puteri Harbour. Phase one of the development, Estuari Gardens, is priced from USD 324,000 and features 350 freehold homes.”Eco-friendly” isn’t the only concept taking shape in the region. Eastern and Orient have integrated a “Living in Wellness” theme into their development Avira. Located in Medini Iskandar, the development features a 12.5-acre Wellness Sanctuary in the centre of the development, while a mixture of different housing and retail options encompass the green environment.
“Eco-friendly” isn’t the only concept taking shape in the region. Eastern and Orient have integrated a “Living in Wellness” theme into their development Avira. Located in Medini Iskandar, the development features a 12.5-acre Wellness Sanctuary in the centre of the development, while a mixture of different housing and retail options encompass the green environment.Also located in Puteri Harbour is Puteri Cove Residences, by Singapore developer Pearl Discovery Development, a member company of Pacific Star and DB2. Overlooking the Johor Strait, the development features condominiums, suites, SOHOs, lofts and retail outlets. The site is within walking distance of the ferry pier with services to Indonesia and soon to Harbour Front in Singapore.
Also located in Puteri Harbour is Puteri Cove Residences, by Singapore developer Pearl Discovery Development, a member company of Pacific Star and DB2. Overlooking the Johor Strait, the development features condominiums, suites, SOHOs, lofts and retail outlets. The site is within walking distance of the ferry pier with services to Indonesia and soon to Harbour Front in Singapore.Sitting across from Legoland, the upscale UMLand Shama Medini development will sit on 20-storeys atop the new UMCITY and features 213 serviced apartments. Residents and guests will have access to 300,000 sq. ft. of retail in UMC Mall, as well as multiple restaurants, a gym, swimming pool, kids play areas, outdoor pavilion and a surau within the development itself.
Sitting across from Legoland, the upscale UMLand Shama Medini development will sit on 20-storeys atop the new UMCITY and features 213 serviced apartments. Residents and guests will have access to 300,000 sq. ft. of retail in UMC Mall, as well as multiple restaurants, a gym, swimming pool, kids play areas, outdoor pavilion and a surau within the development itself.
Furthermore, in 2009, the public administration offices relocated to a 320-acre site, Kota Iskandar. More than 76 government departments operate from there and house more than 6,000 civil servants.
Estuari Gardens
Even with such substantial investment going into the region, according to the latest statistics from the National Property Information Centre, the actual number of units sold and their values decreased in almost every price sector in 2015. With a weaker MYR, one would expect foreign investment in particular, to be on the rise. Cooling measures and political instability may have had some countering effect.
Despite this, Iskandar will remain an affordable alternative to Singapore for many. With the Sultan pushing development in the region and infrastructure projects finally taking shape, the area should only continue to grow in the future.
This article was first published in Palace Magazine.