Malaysia - Johor, Iskandar, Forest City etc

[winston]

Property – Malaysia
A Study Trip To Iskandar Malaysia

We came away from our recent trip to Iskandar Malaysia (IM) feeling positive, having learnt of the mutual economic and societal benefits that could be reaped upon the full operation of the RTS by end-26, which could stimulate the growth in and around the JB City Centre.

We opine that IWH Group and property-construction player Ekovest (BUY, Target: RM1.10) are clear winners for the IM theme, and from a more long-term perspective, we like Sunway (BUY, Target: RM2.38).

Maintain MARKET WEIGHT.

Source: CIMB

https://research.uobkayhian.com/content ... 306964bc29

[behappyalways]

Can Johor Bahru revive its abandoned malls?
https://m.youtube.com/watch?v=XeKLfGZ1VlM

[behappyalways]

"Ghost town" resurrected? Can Forest City usher in a turnaround?

“鬼城”死灰复燃？森林城市能否迎来转机 | 世界大解说

https://m.youtube.com/watch?v=Tr3Equq1Ges

[winston]

Progress of RTS Link fuels boom in Johor Bahru properties

By Cecilia Chow

When completed, the RTS Link will serve 10,000 passengers per hour and should ease traffic congestion on the Causeway.

It will connect Woodlands North station in Singapore and Bukit Chagar station in JB in Malaysia. The stations will be co-located with the Customs, Immigration and Quarantine (CIQ) checkpoints.

The announcement on the progress of the RTS Link, which is 52% completed as at October and set to commence operations by early 2027, was “a significant catalyst in making the JB property market a hot spot”.

Beyond the RTS Link, the long-term growth prospects of JB’s property market are bolstered by other infrastructure projects, such as the Iskandar Rapid Transit, the potential revival of the Kuala Lumpur-Singapore High-Speed Rail, and the proposed Johor Bahru Light Rapid Transit, which is currently being considered.

In the state of Johor, the minimum purchase price for foreigners is:
● RM2 million ($574,000) for landed property in designated international zones
● RM1 million for high-rise, strata-titled property within non-international zones, except for Medini, where there is no minimum price
● For those buying under Malaysia My Second Home Scheme, the minimum is RM1 million (the Malaysian Government is considering relaxing some of the conditions announced in Budget 2024)

Properties that are off-limits:
● Low- and mid-cost housing
● Properties built on land reserved for Malays
● Any property allocated under "Bumiputera interest (lot)"

Source: EdgeProp Singapore

https://www.edgeprop.sg/property-news/p ... dium=email

[behappyalways]

The Big Read: As S'poreans flock across the Causeway to seek respite from rising costs, are they inflicting the same on Johor Bahru?
https://www.todayonline.com/big-read/bi ... ru-2316491

[winston]

Forest City: Inside Malaysia's Chinese-built 'ghost city'

Source: BBC

https://www.bbc.com/news/business-67610677

[winston]

‘Agents’ touting to smuggle duty-free alcohol, cigarettes out of Malaysia’s Forest City: Report

by Michelle Chin

The zone enjoys duty-free status, but these duty-free items must be consumed within Forest City. Items taken out of the area are subjected to taxes.

The smuggling fee was at least RM25 (S$7) per crate of beer (24 cans in each crate), while different charges apply to liquor and cigarettes.

A crate of Tiger beer can be bought for RM74.30 at a Forest City duty-free store. The same purchase may cost RM143.90 in other parts of Malaysia.

The reporter also observed that people can drive duty-free purchases out using their own vehicles, even without the help of smugglers.

Source: Straits Times

https://www.straitstimes.com/asia/se-as ... ity-report

[winston]

not vested

RHB IB maintains 'overweight' call on real estate sector, identifying UEM as top proxy in Johor

By Choy Nyen Yiau

UEM Sunrise Bhd as the top proxy for the segment, with potential benefits extending to Sunway Bhd, IOI Properties and Eco World Development Group Bhd if significant railway infrastructure projects materialise in Johor.

The proposed LRT lines and terminal stations may be located at Ikea Tebrau, Iskandar Puteri (Legoland or Forest City) and Senai, while the HSR may have a station at Iskandar Puteri or Forest City.

Source: theedgemalaysia.com

https://theedgemalaysia.com/node/698664

[behappyalways]

Johor's abandoned shopping malls
https://m.youtube.com/watch?v=GQIuq6CvCvM

[behappyalways]

Is the government's relaxation of second home application conditions conducive to the recovery of Forest City real estate?

政府放宽第二家园申请条件 有利于森林城市房产复苏？| 八点最热报 15/03/2024

https://m.youtube.com/watch?v=JASKl-74tyk