Demand for landed properties in south Johor still strong
PASIR GUDANG: The demand for landed residential properties in south Johor especially in Iskandar Malaysia is still strong despite the slowdown in the property market.
Mah Sing Group Bhd chief executive officer Datuk Ho Hon Sang said that most buyers in the economic growth corridor still preferred landed over high-rise properties.
He said developers in Iskandar Malaysia were still launching their projects despite uncertainties and challenges in the property market.
“Iskandar Malaysia will continue to drive demand for properties in south Johor and we expect the property outlook to remain attractive in years to come, ” said Ho.
He said this at a press conference after the signing ceremony to award RM50mil to Kimlun Group to design and build a connecting road into Senai Desaru Expressway.
The new road is part of Mah Sing’s ongoing Meridin East township here and the road will shorten travel time by 15 minutes and 45 minutes to Tanning Langsat and Pasir Gudang respectively.
“The influx of domestic and foreign investments into Iskandar Malaysia will create new job opportunities and this will in turn drive demand for properties,” said Ho.
Mah Sing senior general manager (Southern) Benjamin Ong said that the take-up rate for landed properties at Meridin East was good since the launch of the township in August last year.
“Contrary to what they say about a slowdown in the property market, we still managed to get buyers for our township project here,” he said.
Ong said most of the buyers were first timers and from Pasir Gudang and nearby areas and as well as Malaysians working in Singapore.
He said Mah Sing started exploring the Johor property market 17 years ago. It has developed seven projects, mostly located in Iskandar Malaysia, with a combined gross development value of RM6.5bil.