Growing Japanese interest seen in Iskandar, says UMLand

File picture shows workers waiting to start work outside a soon-to-be-completed condominium project at Kota Iskandar in Johor, February 27, 2015. — Reuters pic
File picture shows workers waiting to start work outside a soon-to-be-completed condominium project at Kota Iskandar in Johor, February 27, 2015. — Reuters pic

NUSAJAYA, March 10 — There has been a steady increase in Japanese interest in Iskandar Malaysia properties due to the conducive environment and proximity to Singapore, a property developer said today.

United Malayan Land Bhd (UMLand) Group Chief Executive Officer Datuk Charlie Chia Lui Meng said the group’s projects here, for example, has been receiving a lot of interest from the Japanese that subsequently translated into sales.

Citing the landed properties in Sapphire 8, Bandar Seri Alam, he said 75 units had been sold to the Japanese.

“From our purchase profile, they (Japanese) are actually young tenants. They are going to bring their family here. Most probably because of better environment and is closer to Singapore,” he said to reporters when commenting on the trend in property purchases in Johor, here today.

Another UMLand project that is currently being developed – Medini Lakeside, also saw a 30 per cent take-up by the Japanese out of the total 50 per cent that has been offered for sale.

UMLand Medini Lakeside Development Sdn Bhd Senior General Manager Mazufi Abdul said it was a good sign to the company if the Japanese continued to show interest in buying properties at Iskandar.

Earlier, Chia signed five agreements with other five new partners namely the Ascott Ltd, ONYX Hospitality Group, Samsung S-1 Security Solutions Korea, MCAT Box Office and Regus.

With these agreements, Chia said it could elevate UMLand’s status as a lifestyle developer that provides luxury and quality products in all its projects including UMCity Medini Lakeside.

“We are very excited that these international partners are bringing brands that are a class of their own, to help turn the concept of UMCity Medini Lakeside into a reality.

“Upon completion in 2018, it will have a premium corporate office tower, two international branded serviced residences, a hotel, lakeside shopping centre and a wide range of business suites,” he said.

Through these agreements, the development will also see the opening of The Ascott’s Citadines Apart’hotel serviced residences; with Samsung S-1 Security Solutions Korea providing comprehensive security solutions and MCAT Box Office to bring the latest technology in cinematic and entertainment.

Meanwhile, Regus will set up its serviced offices at the UMCity Corporate Office Tower and ONYX Hospitality Group will manage and operate the OZO Medini Hotel and Shama Medini serviced apartments. — Bernama