JOHOR BARU: Demand for landed residential properties is still good in Iskandar Malaysia as domestic and foreign property buyers still preferred landed properties over high-rise living.
SP Setia Bhd (Property South) divisional general manager Stanley Saw said the progress and development taking place in the country’s first economic growth corridor was the main attraction to buyers.
He said the property outlook in Iskandar Malaysia remained attractive and developers were still launching their projects despite the challenges and uncertainties in the global economy.
“The influx of domestic and foreign investors and new residents into Iskandar Malaysia will continue to drive demand for properties in south Johor,’’ said Saw.
He said this in a press conference during the SP Setia World Environment Day 2016 – themed “My Better World” held at SK Felda Bukit Permai in Sedenak about 90km from Johor Baru.
Saw said the company would be launching its landed residential properties in Bukit Indah II comprising about 400 units of houses on 16.18ha in the 607.02ha Bukit Indah township.
He said the gated and guarded project would be completed in two or three phases with a gross development value (GDV) of RM300mil.
“We will be launching 183 units of the double-storey terrace houses probably in August with an indicative pricing of between RM670,00 and RM900,000 each,’’ said Saw.
He said there were 110 units of the 20 ft by 70 ft and 73 units of the 22 ft by 75 ft double-storey houses with a floor area of between 1,900 sq ft and 2,000 sq ft.
Also to be launched this year were two commercial mixed development projects on 4.45ha and 8.09ha sites in the Bukit Indah business area.
“There will be a hotel, a retail not discounting a stand-alone shopping complex and both projects have a combined GDV of RM1bil,’’ he said.
Saw said the company would also be launching 352 units of landed residential properties under the Rumah Mampu Milik Johor (RMMJ) in Setia Eco Gardens Jalan Ulu Choh-Pontian priced RM139,000 each.
He said 380 units of the RMMJ at Setia Eco Gardens already handed over to the owners adding 490 units of RMMJ priced at RM150,000 would also be launched at the fringe of Setia Business Park II in Tebrau.