Iskandar continues to drive Johor property
Market backed by economic growth and investments
PASIR GUDANG: Mah Sing Group Bhd sees Iskandar Malaysia continuing to drive economic growth and boost demand for residential, commercial and industrial properties in southern Johor.
Group chief executive officer Datuk Ho Hon Sang said the influx of domestic and foreign investors and new residents in the country’s first economic growth corridor would create new job opportunities.
“This in return will create demand for residential and commercial properties,’’ he told reporters at the signing ceremony to award RM50mil contract to design and build connecting road to Kimlun Group here yesterday.
The connecting road is part of Mah Sing’s Meridin East township here and the road will shorten travel time to Tanjung Langsat and Pasir Gudang between 15 and 45 minutes. Ho said the company’s latest township project in Johor – Meridin East – here would benefit from the progress and development taking place in Iskandar Malaysia since its inception on Nov 4, 2006.
The mixed integrated development project on a 531.35ha site is Mah Sing largest township with a gross development value of RM5bil and will keep the company busy for the next 12 to 15 years.
He said the township project located in Pasir Gudang, which is one the five development zones in Iskandar Malaysia would cater to buyers from the eastern parts of the economic growth corridor.
“There are many ongoing property projects in Pasir Gudang and nearby areas and the eastern part of Iskandar Malaysia is becoming the new property hot spot,” said Ho. Mah Sing senior general manager (southern) Benjamin Ong said the take-up rate for the landed properties at Meridin East was good since the launch of the township in August 2016. He said majority of the buyers were first timers, upgraders and locals working in Singapore living in Pasir Gudang and nearby areas in the eastern part of Iskandar Malaysia.
“Contrary to what that have been reported on the slowdown in the property market, we are still upbeat the outlook remains positive and attractive,’’ added Ong.
He said 90% of the company’s 492 units Greenway double-storey link houses launched in August 2016 priced from RM357,000 each already been taken up.
It recorded a sold out for its 116 units of Eden double-storey link houses from RM454,000 each launched August last year.
As for Fern (Parcel 1), of the 84 double-storey link houses launched July this year from RM403,750, 55% have already been sold while 50% of the 90 units of Dandelion double-storey link launched this July from RM549,100 have been taken up.