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| Iskandar Malaysia will continue to be the main driving factor in Johor and the influx of domestic and foreign investors will create demand for commercial and residential properties in the region,’’ said Chia. |
NUSAJAYA: United Malayan Land Bhd (UMLand) is focusing on townships and niche
property developments in view of market demand for such properties, according to
group chief executive officer Datuk Charlie Chia Lui Meng.
“We see the two segments giving good growth prospects and we will continue to
explore the opportunities,’’ he told a press conference after the signing of
agreement with ONYX Hospitality Group and The Ascott Ltd here yesterday.
Under the agreement, ONYX will manage the Shama Medini serviced apartments,
the first Shama property in Malaysia.
The Ascott will manage Citadines Medini Nusajaya, the first Apart’hotel in
Nusajaya – The Ascott has over 26,000 operating serviced residence units in over
200 properties worldwide.
The serviced apartments are located within the UMCity Medini Lakeside – a
multi-phased mixed development in Medini with a gross development value of
RM1bil.
Among the components in the project on a 2.02ha site, which is expected to be
completed in the third-quarter of 2018, are an office tower, two
internationally-branded serviced residences, a hotel, a lakeside shopping centre
and business suites.
“Iskandar Malaysia will continue to be the main driving factor in Johor and
the influx of domestic and foreign investors will create demand for commercial
and residential properties in the region,’’ said Chia.
He said demand for landed properties in Iskandar Malaysia was still good and
this was reflected by Japanese investors purchasing bungalows at the company’s
Bandar Seri Alam in the eastern gate development zone of Iskandar Malaysia.
Chia said the bungalows were sought after by the Japanese as they were very
expensive in Japan, adding that many of the buyers had expressed interest to
move to Iskandar Malaysia.
“We have hot weather the whole year and golfing is also cheap in Malaysia
unlike in Japan where it is expensive and you have to book years before you can
even tee off,’’ he said.
UMLand currently has mixed township developments namely Bandar Seri Alam,
Taman Seri Austin and Taman Seri Albion – all strategically located within
Iskandar Malaysia, Johor and Bandar Seri Putra in Bangi, Selangor.
For more information on Building and Construction event, please visit www.asiapacificevents.com
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