Project Signboard – Taman Laguna
Construction of new rows progressing well
Type C: Cherry when completed will look like this
Progress for Tropez
Landfill activities, near the danga cruise dock
Tag Archives: danga bay
Iskandar Malaysia – a report by CIMB Research
This is a very good summary about Iskandar Malaysia produced by propcafe.net, using the extensive CIMB research as the source reference. Thanks for making this wonderful piece of summary. It’s definitely worth your time reading and dissecting it. Enjoy!
Deal on RM8.1b Danga Bay project inked (Capitaland Malaysia Pte Ltd, Iskandar Waterfront Sdn Bhd, Temasek Holdings Ltd)
JOHOR BARU: Iskandar Waterfront Sdn Bhd (IWSB), CapitaLand Malaysia Pte Ltd and Singapore’s state investment arm Temasek Holdings Ltd signed a “heads of agreement” yesterday to jointly acquire and develop parcels of land in Danga Bay here for a planned RM8.1 billion mixed integrated development.
The deal is considered the biggest entry into Johor’s Iskandar Malaysia by Singaporean investors.
Yesterday’s signing ceremony, held at the Danga Bay Convention Centre here, was witnessed by Prime Minister Datuk Seri Najib Razak and his Singapore counterpart, Lee Hsien Loong.
Present were Johor Menteri Besar Datuk Abdul Ghani Othman and Temasek chief executive officer Ho Ching.
CapitaLand Malaysia was represented by its president and group chief executive officer, Lim Ming Yan, Temasek by its senior managing director for investments, David Heng, and IWSB by its managing director, Tan Sri Lim Kang Hoo.
The Johor government, through Kumpulan Prasarana Rakyat Johor (KPRJ), the investment and project implementation arm of the state, has substantial interest in IWSB.
CapitaLand Malaysia is a wholly-owned subsidiary of CapitaLand Limited, which is one of Asia’s largest real estate companies. This marks the first direct large-scale township investment and development in Malaysia by CapitaLand.
The agreement is subject to detailed terms and conditions and has yet to be finalised.
The joint venture will acquire 3.1 million sq ft (28.5ha) of freehold land in A2 Island for RM811 million. CapitaLand Malaysia will have a 51 per cent stake, followed by IWSB (40 per cent) and Temasek (nine per cent).
Ghani, who is KPRJ chairman, described the venture with CapitaLand and Temasek as a “landmark deal” which would spur other major regional players to relook investment opportunities in Iskandar Malaysia.
“This joint venture with two of Singapore’s reputable partners will give confidence to others waiting on the sidelines that investment in Iskandar Malaysia is an opportunity not to be missed.”
He said this was an example of the “feel good sentiment” that was now prevailing on both sides of the border, thanks to the hard work of both Najib and Lee in strengthening bilateral ties.
Lim said work on the project would begin early next year.
“We are confident this joint venture will draw others to explore investment opportunities in the Danga Bay waterfront city development. IWSB will be assured of a constant stream of recurring income.”
IWSB is the master developer of 1,600ha of prime waterfront land here. The land bank includes 800ha in Danga Bay and strategic parcels within the Johor Baru city centre, the Tebrau coast in the eastern corridor of the city and Desaru in the east coast of Johor.
IWSB is actively seeking strategic local and foreign partners to develop high-impact projects and create new business and tourist destinations within its proposed waterfront city.
About 220ha have already been acquired by investors. They include Dijaya Corp Bhd, China’s Country Garden Holdings Co Ltd, Australia’s Walker Corp and Brunsfield Group.
CapitaLand Malaysia will undertake the lead in the development of A2 Island.
The project will be developed over 10-12 years.
Prime Minister Datuk Seri Najib Razak (centre) and Singapore Prime Minister Lee Hsien Loong (on his right) looking at a model of the proposed Waterfront City. On Najib’s left is Iskandar Waterfront managing director Tan Sri Lim Kang Hoo and Johor Menteri Besar Datuk Abdul Ghani Othman. Pic by Khairull Azry Bidin
Read more: Deal on RM8.1b Danga Bay project inked – General – New Straits Times http://www.nst.com.my/nation/general/deal-on-rm8-1b-danga-bay-project-inked-1.221560#ixzz2LRV6jNKf
PM Lee, PM Najib launch three projects in Johor
PM Lee, PM Najib launch three projects in Johor – Channel NewsAsia
JOHOR BAHRU: The Prime Ministers of Singapore and Malaysia launched two wellness projects in Medini at Iskandar Malaysia and a mixed development project at Danga Bay in Johor Bahru on Tuesday.
Fresh from the launch of joint development projects in Singapore, Prime Minister Lee Hsien Loong and his Malaysian counterpart Najib Razak travelled to neighbouring Johor Bahru where the two wellness developments were unveiled.
Afiniti Medini, an urban wellness project, is aimed at becoming a regional destination for families, tourists and professionals. It features a wellness centre, service apartments, a corporate training centre and retail space. Afinity Medini is expected to be completed by the end of 2015.
Both leaders also launched Avira, another resort wellness project at Medini Central which will have homes, serviced apartments and commercial space. The development is expected to be completed in 2018.
The two projects are jointly developed by Khazanah Nasional and Temasek Holdings.
Medini is among the five flagship zones at Iskandar Malaysia and is a 40-minute drive to the Central Business District in Singapore.
Both projects will have a total gross development value of three billion ringgit.
Mr Najib acknowledged that the success of the Iskandar project has exceeded the original plans and there has been a significant increase in investments from Singapore companies in Iskandar Malaysia.
Mr Najib said: “We both agree that we should develop something which develops the true meaning of the word “iconic” and from what I can see it befits the description. This will be truly an iconic and and landmark project which will certainly bring much benefit not only to those people involved in this project and users of this projects, but also indicative of the growing stronger ties of the two countries.
“I would say there is a significant increase of investments from Singapore. During our bilateral discussions this morning, we stressed the importance of the Industrial Working Group to meet on regular basis to encourage investors from Singapore to relocate their investments here, as well as for new investments to take place here in Iskandar.”
Mr Lee said: “This is going to be an oasis not only for people from Malaysia or Singapore, but perhaps from all over the region to come and recharge their batteries, enjoy the environment and absorb the spirit of wellness.”
He said the Malaysian government had shown commitment and drive to develop Iskandar Malaysia.
Mr Lee said: “A lot of investments have come in from the government, a lot of investment has come in from the private sector and significant amount of that has come from Singapore.
“I believe there is a lot of potential because from Singapore’s point of view, we are developing and at the same time, there is a lot of spillover of what Singapore companies which want to expand or companies which want to come to Singapore but can’t quite fit into Singapore. I think Iskandar offers a prime opportunity for them.
“As long as the Malaysian government pursues this to develop Iskandar and to link up with Singapore, the prospects are very good and from Singapore’s point of view, we are very happy it is going to succeed.”
Also launched on Tuesday is a 3.2 billion ringgit joint venture project in Danga Bay – a 20-minute drive from the Causeway.
Mr Najib and Mr Lee witnessed the signing ceremony for the Memorandum of Understanding by CapitaLand, Iskandar Waterfront and Temasek Holdings.
Source: ChannelNewsAsia
Malaysia, Singapore firms in JV in Iskandar Malaysia
KUALA LUMPUR: The Iskandar region will be the centre of attraction tomorrow, with two major events from Malaysian and Singapore companies. This will signify deepening economic relations between the two Asean neighbours.
The Malaysian government’s investment arm, Khazanah Nasional Bhd, and Singapore’s TemasekHoldings (Pte) Ltd will collaborate to develop two wellness projects in the Medini area with a gross development value (GDV) of RM5.2 billion Iskandar Waterfront Holdings Sdn Bhd (IWH), the master developer of parts of Johor Baru city, and its Singapore partner, CapitaLand Ltd, will jointly develop the Danga Bay project, worth between RM4 billion and RM5 billion in GDV.
What is significant is both the prime ministers of Malaysia and Singapore will be present to witness the historic ceremonies.
The visit by Singapore’s Prime Minister, Lee Hsien Loong, to Iskandar Malaysia is the first by a high-ranking official from the city state. This follows the last Malaysia-Singapore leaders’ retreat in January 2012.
Khazanah and Temasek will join hands to develop two wellness projects in Iskandar Malaysia. They are Urban Wellness and Resort Wellness through their 50:50 joint-venture company, Pulau Indah Ventures Sdn Bhd (PIV).
PIV will develop the Urban Wellness project on a five-acre (2ha) site in the north of Medini in Iskandar Malaysia. For the Resort Wellness project, PIV will team up with another Malaysian company, Eastern & Oriental Bhd, to undertake a 210-acre development in central Medini.
These two projects will include a wellness centre, serviced residences, a corporate training centre, commercial and retail shops, and wellness-related products.
Prime Minister Datuk Seri Najib Razak and Lee will perform the groundbreaking ceremony for both the wellness projects.
The tie-up between IWH and CapitaLand involves the latter buying a piece of land from IWH.
Earlier this year, The Edge reported that CapitaLand was looking to acquire 60 acres worth RM1 billion in Danga Bay for a project that will have a GDV of between RM4 billion and RM5 billion.
CapitaLand, which is synonymous with mall development and ownership in Asia, is not new to commercial property development in Malaysia. It tied up with Sime Darby Property Bhd last year to build a RM500 million mall in Kuala Lumpur.
Danga Bay forms part of Iskandar Malaysia’s 221,707ha enclave, attracting RM106.31 billion in investments from 2006 to 2012. Iskandar Malaysia hopes to draw between RM15 billion and RM21 billion in domestic and foreign investments this year.
IWH is 60%-owned by Tan Sri Lim Kang Hoo via Credence Resources Sdn Bhd. The other major shareholder is the Johor government via Kumpulan Prasarana Rakyat Johor, which holds the remaining 40% stake. The Employees Provident Fund and Khazanah have indirect stakes in IWH via Iskandar Investment Bhd.
These two additional investments from Singapore add to the recent RM3 billion integrated eco-friendly technology park by Ascendas Pte Ltd in a joint venture with local developer UEM Land Bhd. Singapore billionaire Peter Lim will invest RM3 billion in building an Auto City in Nusajaya, with Formula One track facilities, via a joint venture with UEM Land.
Shares in UEM Land and Tebrau Teguh Bhd, 47.16% controlled by IWH, have seen handsome gains in the past few weeks as a result of these economic activities in Iskandar Malaysia.
UEM Land’s share price advanced 11.44% to RM2.24 from Feb 6. Tebrau Teguh has gained 34.04% year to date. The stock jumped from 70.5 sen on Jan 2 to 94.5 sen last Friday.
This article first appeared in The Edge Financial Daily, on February 18, 2013.
http://sg.finance.yahoo.com/news/malaysia-singapore-firms-jv-iskandar-011503667.html
Iskandar Waterfront Celebration @ Danga Bay
Danga Island – 13 February 13
7 Iskandar investment tips
This article was posted on January 3, 2013 on Star Property
(Source: http://www.starproperty.my/index.php/articles/investment/5-iskandar-investment-tips/)
With the renewed hype into Iskandar Malaysia, you might think its property market would now see little opportunity for capital appreciation. Newly launched properties in Iskandar have appreciated 20% to 30% this year while the secondary market has appreciated by 10%, spelt out Rahim & Co (Johor) executive director Loo Kung Hoe. Nevertheless, Loo reckons that 2013 may still see values rise by between 10% and 20%. Hopefully some rises will be seen in the following, our seven carefully picked Iskandar investment tips:
6. Danga Island
Price: villas from RM11mil
The 152 villas on this exclusive island are being marketed for a billionaire’s ransom, but they come with an inimitable location, on a landscaped island within the Straits of Johor and are accessible straight from the new coastal highway. How more exclusive can you get? According to its developer, Danga Island provides security features as well as its own club house called Ombak Club.
—————————————
Took some pictures today, thought I would share the latest progress.
Ombak Club
Dijaya in JV for RM1.02b mixed devt, hotel in JB (Danga Bay)
KUALA LUMPUR: Dijaya Corporation Bhd plans to undertake mixed development including a hotel in Johor Bharu under a joint venture basis, with a gross development value of RM1.02bil.
It said on Friday its unit Wisdom 88 Sdn Bhd was teaming up with Danga Bay Sdn Bhd (DBSB) to set up a special purpose vehicle — Rhythm Quest Sdn Bhd – to acquire the land and undertake the development.
Dijaya said Rhythm Quest was buying 260,227 sq ft of freehold land in Johor Bahru for RM85.8mil from DBSB. The site is adjacent to the land owned by Dijaya’s subsidiary Tropicana Danga Bay Sdn Bhd.
“Based on initial planning, the proposed project of a hotel and mixed development of commercial properties is expected to generate a GDV of approximately RM1.02bil,” it said.
Dijaya group executive vice chairman Tan Sri Danny Tan said the land purchase was to increase its land bank at strategic locations for its future development and property investment activities, especially in the Southern region of Malaysia.
“The proposed project will be synergistic and shall be complementary to the overall development of Dijaya’s project in the Danga Bay area by enhancing the vibrancy of the area and creating additional value to the existing development,” he said.
Source: The Star Business
Danga Bay Fisherman’s Wharf, Media Village@Medini etc featured in news
PETALING JAYA: A plot of land, measuring 5.9 ha, in Medini Iskandar which forms part of Iskandar Malaysia was sold to a Singaporean developer, who plans to turn it into a mixed development hub in five years. The gross development value (GDV) is estimated at RM2.5bil.
The deal comes hot on the heels of local property developer B&G Capital Resources Bhd snapping up a 3.4-ha site near this plot in Medini, just over a month ago.
However, the deal to really watch out for is likely to be sealed in a few weeks’ time involving the sale of a man-made island in the eastern side of Johor Baru to an influential Singaporean party. The man-made island was created by Iskandar Waterfront Holdings Sdn Bhd (IWH) upon undertaking reclamation works.
The land is right smack in Danga Bay and is part of the fisherman’s wharf, which is one of the 10 projects being undertaken at Danga Bay.
“The man-made island is going to be worth about a billion ringgit and its GDV will run into a couple of billions. The parties involved the Singaporean buyer and IWH are still haggling over the price,” said a source.
But come Feb 19, Prime Minister Datuk Seri Najib Tun Razak and his Singaporean counterpart, Lee Hsien Loong, will unveil two significant wellness developments urban wellness and resort wellness at a site in Medini.
The GDV of these two projects, which includes the development of a wellness centre, serviced residences, a corporate training centre, and commercial, retail, residential and wellness-related offerings, is said to be a whopping RM5.2bil.
IWH is the master developer of Danga Bay, while the 5.9-ha site is being sold by Global Capital & Development to Singapore’s Link (THM) Holdings Pte Ltd for RM96.3mil. B&G, meanwhile, had paid RM73.34mil for the 3.4-ha site.
The wellness development is being undertaken by Pulau Indah Ventures in partnership with other parties. Pulau Indah is a 50:50 joint venture between Khazanah Nasional Bhd and Temasek Holdings (Pte) Ltd.
Link owned by Kenny Tan Heng Mong and three other partners is a privately-owned property development group known for its boutique projects in Singapore. Tan, the group CEO of Link, holds a 70% equity stake in the company. He revealed that he had been in negotiations for one-and-a-half years before finally sealing the deal to buy the 5.9-ha plot.
“It has been a lengthy process,” he told StarBiz, adding that “this is our first foray and we are in negotiations to undertake more developments at Iskandar.”
The funds for the development of the project, added Tan, would be sourced internally.
“Our project will be known as Media Village@Medini Iskandar and our plot is at the entrance of the US$150mil (RM464.78mil) Pine-wood Studios a film and TV production facility and within the vicinity of Legoland, Hello Kitty and EduCity.
“We will develop the land into a residential and retail development, and for the retail portion, we have plans to turn it into seven cultural themes (clusters),” he said.
The idea behind the village concept depicting a major town/street in each of the seven clusters Malaysia, Japan, Korea, America, India, China and Europe was also a way of providing filming opportunities to Pinewood Studios.
“For the Malaysian theme, we have decided to use a kampung-styled concept where wooden houses on stilts will be built,” he said. About 70% of the retail development is for food and beverage outlets.
Link was established in 2004 and has developed several high-end landed residential properties, including the Sultan Link and Central Link in Singapore.
Global Capital is the concession holder of Medini Iskandar, whose lead shareholders include Iskandar Investment Bhd (IIB) and Mubadala, the Abu Dhabi government investment arm.
IWH, which is preparing for an initial public offering, has over 1,619 ha of land, which forms part of Iskandar Malaysia’s 221,707 ha. Iskandar Malaysia is being moulded into a metropolis of the south. Medini is a 902.4-ha greenfield development designed as the new urban township of Iskandar Malaysia.
Just like the IIB land which has attracted numerous investors, IWH has also had its fair share of investors. Its biggest thus far was the RM1bil land sale to China’s Country Garden. The sale of the land to the Singaporean party would be its next big deal.
From 2006 till the end of 2012, Iskandar Malaysia had attracted RM106.3bil worth of investments, of which 63% was from domestic investors and 37% fom foreign investors.
Source: The Star Business
[Updated] Burnsfield @ Danga Bay
Updated on 2 February 13
Burnsfield’s hoardings (blue and yellow) extended to areas outside Tropez sales office. Saw some piling works in progress.
—————————————————-
Updated on 19 January 13
There is a preview launch. Details as follow.
Dates: 19th & 20th January 2013 (Saturday & Sunday)
Times: Seminar – 1PM & 3:30PM Exhibition – 11AM to 6PM
Venue: Amara Hotel, Level 3, Singapore
Visit the link below for more information.
—————————————————
Originally posted on 8 Dec 12
Burnsfield is building retail and commercial buildings that will have a GDV of about RM 4 bil at Danga Bay.
Spotted that these colorful yellow and blue hoardings are up.
Burnsfield Hoardings
Burnsfield Hoardings and Containers
