UMLAND AIMS FOR FULL TAKE-UP BY Q1 NEXT YEAR
Company confident market will continue to be positive and people will invest
UNITED Malayan Land Bhd (UMLand) hopes the remaining Suasana Iskandar serviced apartments, here, will be sold out by the first quarter of next year.
Subsidiary head Ken Ng said about 70 per cent of the 339 residential units had been snapped up since it was launched in 2013.
“We hope to sell the rest of the units by the first quarter of next year. We are confident the market will continue to be positive next year and people will buy or invest in properties as the economy recovers.”
He said the majority bought the Suasana Iskandar units for investment purposes.
“About 40 per cent of the buyers are locals while the rest are foreigners from Singapore, Japan and European countries.”
The 35-storey Iskandar Suasana residential tower is part of the 0.57ha Suasana Iskandar Malaysia development, which includes the 242-room Amari Hotel and Zenith Lifestyle Centre shopping mall.
Ng said the Suasana Iskandar Malaysia development would benefit from developments in the Johor Baru City Centre (JBCC), including the Ibrahim International Business District and the Rail Transit System (RTS).
“We are among the first few companies to embark on the transformation of JBCC and we are looking forward to the completion of the transformation.
“The development of the RTS, for instance, will improve connectivity between Johor Baru and Singapore, which will attract more visitors from the republic,” said Ng after the hand-over of keys to buyers of the residential units by UMLand chairman Tun Musa Hitam.