As a greenfield development, Iskandar Puteri in Johor, formerly known as Nusajaya, has gone through two growth phases — infrastructure and property development. The question now is what industry should be promoted to turn it into an economically vibrant city?
This is not the first piece of land in the city that LGM is monetising.
Will the new policy address the problem of affordability for first-time homebuyers? The reaction from analysts and real estate agents has been mixed.
GuocoLand Malaysia has entered into agreements to sell four assets — DC Tower Sdn Bhd, certain offices and car parks at Menara Pandan, a 679.2ha tract in Sepang and a 2,917 sq m parcel in Jalan Changkat Kia Peng, in Kuala Lumpur.
UMLand has also applied for the halal park to be HALMAS-certified by Halal Industry Development Corp (HDC).
According to Tan Sri Abdul Samad Alias, a major shareholder of Profit Consortium Sdn Bhd — the developer of Plaza Rakyat — Guangdong Debao will acquire equity in Profit Consortium, but the stake is still being worked out.
The slowdown in the real estate market does not seem to have deterred property-related companies from buying more land. This could be due to the belief that as land is scarce, they should move fast if an opportunity arises.
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