By Farah Wahida:
Despite the state government’s plan to impose a higher tax on foreign property owners, properties in Johor, particularly those in Iskandar Malaysia, will continue to appeal to foreigners, according to Pulau Indah Ventures General Manager Roslina Arbak.
She cited the robust demand for the company’s newly-launched project called Afiniti Residences @ Medini Iskandar, where not even a single foreign buyer had backed out.
The 21-storey project comprises 147 luxury strata residences. Unit sizes range from 715 sq ft to 1,064 sq ft, while prices start from RM850 psf to RM1,000 psf, depending on the location.
Touted to become Medini’s first high-rise project, Afiniti Residences will feature service apartments, a wellness centre, a corporate training centre and a wellness-themed retail offering. With a gross development value of RM500 million, the development is nestled on a 2.02ha site and is being developed by Pulau Indah Ventures — a 50:50 joint-venture between Temasek Holdings and Khazanah Nasional.
As of 31 May 2013, the project has received 1,570 applications, of which 60 percent are Malaysians, 32 percent are Singaporeans, while the rest are from the UK, Indonesia and South Korea.
“Due to the overwhelming response for the project, we will hold a balloting process on Saturday,” noted Roslina.
Meanwhile, Christopher Boyd, Executive Chairman of CB Richard Ellis (CBRE Malaysia) is optimistic that foreigners will continue to buy properties in Iskandar, despite the tax hike. CBRE is the project’s marketing agent.
“Malaysia has one of the most liberal foreign property ownerships in the region and foreign buyers will continue looking to buy properties here,” he added.
Despite the state government’s plan to impose a higher tax on foreign property owners, properties in Johor, particularly those in Iskandar Malaysia, will continue to appeal to foreigners, according to Pulau Indah Ventures General Manager Roslina Arbak.
She cited the robust demand for the company’s newly-launched project called Afiniti Residences @ Medini Iskandar, where not even a single foreign buyer had backed out.
The 21-storey project comprises 147 luxury strata residences. Unit sizes range from 715 sq ft to 1,064 sq ft, while prices start from RM850 psf to RM1,000 psf, depending on the location.
Touted to become Medini’s first high-rise project, Afiniti Residences will feature service apartments, a wellness centre, a corporate training centre and a wellness-themed retail offering. With a gross development value of RM500 million, the development is nestled on a 2.02ha site and is being developed by Pulau Indah Ventures — a 50:50 joint-venture between Temasek Holdings and Khazanah Nasional.
As of 31 May 2013, the project has received 1,570 applications, of which 60 percent are Malaysians, 32 percent are Singaporeans, while the rest are from the UK, Indonesia and South Korea.
“Due to the overwhelming response for the project, we will hold a balloting process on Saturday,” noted Roslina.
Meanwhile, Christopher Boyd, Executive Chairman of CB Richard Ellis (CBRE Malaysia) is optimistic that foreigners will continue to buy properties in Iskandar, despite the tax hike. CBRE is the project’s marketing agent.
“Malaysia has one of the most liberal foreign property ownerships in the region and foreign buyers will continue looking to buy properties here,” he added.
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