Iskandar Properties

Johor and Singapore have had a long and interesting history that has spanned over the centuries and that has intermingled quite a lot.

The history spans as far back as the 14th century, during a time when Singapore once played the role of the seat of governance for Johor Sultanate. Then there was the 18th century singing of a treaty with Britain. Through the centuries the history of these two now sovereign states have seen their economies and histories intricately linked.

Singapore’s monumental palace still exists today, but it has been transformed into a mosque which now houses Johor’s Royal Mausoleum. In the nearby cemetery once can find the resting places for the members of the royal household, another reminder of the areas glorious past history.

Just a short trip to the opposite side of the causeway is Iskandar Malaysia, the home of Johor’s exciting future.

Iskandar Properties

Iskandar Malaysia id home to the present Sultan of Johor, who admits that, with Iskandar Malaysia as a kind of back country, the two sovereign states are set to have their history intertwine once again.

A recent interview between The Star and the 25th Sultan of Johor, Sultan Ibrahim Ismail, it was shared that he believes that Johor is the future, due to the fact that Chinese and Singaporeans alike would be purchasing homes in Johor. He further added that homes tend to be out of reach for everyday Singaporeans. When the middle class starts to feel a squeeze it becomes a political issue.

Scepticism to Optimism – how does Singapore factor in?

In 2006 Iskandar Malaysia was first brought to the table by Abdullah Badawi, the now former Prime Minister of Malaysia. At that time there was a lot of scepticism from Singaporeans. However, scepticism turned to optimism in 2010 after the conclusion of the land swap deal.

More Looking at Iskandar

The deal was led jointly by Malaysian and Singaporean governments and it was agreed upon by both countries to jointly developing two quintessential projects in Khazanah Nasional and Medini through Temesk Holdings.

Afterwards, a joint venture agreements was made by Iskandar Waterfront Holdings and Temasek Holdings through CapitaLand for the development of Danga Island’s A2 parcel of land.

It was these factors that played a large role in giving a much needed boost of confidence to Iskandar Malaysia amongst the Singaporean population, causing many to grab properties that were right across the causeway.

According to data supplied by UEM Sunrise, at the peak of 2013’s market there were nearly 74% of property buyers that were not Malaysian, but from Singapore. There were also figures from IRDA (Iskandar Regional Development Authority) which indicated that Iskandar Malaysia had achieved new investments from January of 2014 to October of 2014 by the sum of 24.87 (RM) billion.

From the time period of 2006 to October of 2014, Iskandar Malaysia had a record total of 156.51(RM) billion in committed growing investments. Out of this figure, 51%, or the equivalent of 79.17(RM) billion, represented realised investments. Presently, the top foreign investor is still Singapore.

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