KPRJ-Country Garden iskanar project Forest City and Duty Free Zone

China’s developer Country Garden Holding and Johor State investment arm Kumpulan Prasarana Rakyat Johor (KPRJ) have joint venture to drawn out plans for a massive reclamation project to build luxury residential property at Pendas area in southern Johor, close to Singapore.

The new project is being dubbed Forest City.

Sources said that the new project could occupy land area of “a few thousand acres,” which would make it one of Iskandar Malaysia’s largest projects compares to Sunway Group new city and town projects at Medini South and Pendas area.

Industry sources said that such a reclamation project could be the largest reclamation project in the Malaysia, and that the developers for such mega projects must have strong financial resources.

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KPRJ is the state government’s investment arm that owns 30% stake in Iskandar Waterfront Holdings IWH. Iskandar Waterfront Holding has 1,619ha of land bank in Iskandar Malaysia stretching along the coastal line of Flagship A, Flagship B and Flagship C, which is the premium land area of Iskandar Malaysia.

Country Garden itself already well-known in the Iskandar Malaysia Flaghsip A, Johor Bahru for its maiden project in Malaysia, Country Garden at Danga Bay. Country Garden at Danga Bay has creates the miracle in Malaysia property market when it launched 9,000 condominium units at one go last year August and receives the sales of 70% within 3 months.

Previous reports have indicated that the Johor state government is considering creating Malaysia’s biggest duty free zone in this reclaimed land area, leveraging on its proximity to Singapore.

The location of the new Country Garden-KPRJ development is close to Singapore tycoon Peter Lim’s billion dolar Motorsports City project, which will include a Formula One-compliant racing test track as well as showrooms, garages and entertainment outlets which spreads over 109ha.

The new Country Garden-KPRJ project illustrates the growing interest among China developers in Iskandar Malaysia. The China developers already have a strong presence in the Flagship A, Johor Bahru area.

3 months ago Chine developers Guangzhou developer R&F Properties Holding surprise the Iskandar Malaysia land prices with breaking record price of RM891 per sq ft or RM4.5bil deal for 47ha of land in the vicinity of the old Customs, Immigration and Quarantine Complex. China state-backed Greenland Group announced this month to invest a US$3.3 billion deal in 2 residential and hotel projects in Johor Bahru, Flagship A, Iskandar Malaysia.

Property Management and Property Consultancy, One Stop Renovation services, Mortgage, Housing Loan Insurance MLTA

Alvin Mah
016 – 888 4292 / alvin-ma@live.com
Property consultant
Website: http://mproperty.asia
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Life Insurance

What is Life Insurance?

Life insurance is a contract between insurance policy holder and an insurer, where the insurer promises to pay a designated amount of money in exchange for a premium, upon the death of the insured person.

Why do I need Life Insurance?

Why we work day in and day out? Where do we expense our salary? The answer is simple; we need money for foods, for accommodation, and fulfill our daily activities. Money is needed to sustain our daily life. Who will financially protect our family, our loved one if something happen to us? Tomorrow and unexpected fatal, who know which one will come first?

Life insurance is the only solution for uncertainty we are facing by providing peace of mind in term of financial protection to our family and our loved one. Here are few reasons why life insurance is important to us, why we should have life insurance in our financial planning.

1.       Financial protect your family and loved one

If your family and loved one depend on you to support their livelihood, then life insurance is a must. Your wife is not working, don’t generate any income and your children is still studying, so whenever any fatal happen to you, they will lose all the financial support.

Life insurance is the only source to replace your income to sustain their daily life and standard of living.

2.       Mortgage protection

Think about it – do you want your family and loved one to be homeless if you die unexpected? Where your families have money to pay monthly mortgage if you as the only source of income left?

Life insurance can be used to pay off the outstanding mortgage balance.

3.       Education protection

Does education important to our children especially in current society which emphasis on certificate, skill and knowledge? Certificate is the only way as a stepping stone for you access to corporate door in the job market.

What will happen to your children if something happen to you and you don’t have any money left for them for their education?  Should we have backup plan to protect our children for their future, invest in their education protection?

4.       Final expenses

Funeral expenses and medical bills is a hefty burden. At the junction of difficult and emotional time, your life insurance can cover these expenses without financial hardship.

5.        Leave An Inheritance

If you don’t have any assets to pass to your children, you can create an inheritance by buying a life insurance policy and naming them as beneficiaries. This provides your children a good financial future and provide for any monetary needs that will arise. Just take a example: You buy an insured value of 100k life insurance with monthly premiums of 100 dollar. 20 years of total premiums is 24k.  Let say accidentally something happen within 10 years, try to imagine the amount of 100k you get from it. How much and how long period you need to save for 100k? How much you have paid for the exchange of this 100k? Yet the best part is that you get back all the 24k premium you have paid for with interest if nothing happen to you.

6.       Supplement for your retirement

Life insurance contains cash value that will be return to policy holder once its term is ended. You not just take back the cash value of total premiums you have paid for the 20 years term life insurance, yet you earn the interest for the premiums that you have paid for. Ultimately, it let you save your money at the same time you earn the free benefit of financial protection.

Life insurance is the best way to save money while getting financial protection for your family and loved one. Having life insurance is first priority in financial planning for anyone who wishes to have peace of mind at the same time saving money and obtain financial protection.

Just see people around us, who doesn’t need life insurance? If they already have bought it, are them get the right coverage based on their current needs? 10 years ago you bought the life insurance when you are single and without property is not suitable again to the current needs after you have married, have children and have property. The life insurance policy needs to be review and upgrade to the latest financial needs.

Eventually,  having a life insurance is equal to you take your money out from left pocket and put into your right pocket. The best part is you get free financial protection that is most needed in your financial planning to protect your family and loved one. Do you agree?

Here is an example of life insurance:

Alan has a family of 5 persons, himself, his mother, his wife and 2 children. Alan work for a company with salary 6000 per month. He needs to pay car loan and mortgage. He is the only person to financially support his family. What will happen if he doesn’t buy life insurance and fatal happen to him?

Scenario 1 without Life Insurance:

His family lost the only source of income. Tough burden is awaiting them; funeral expense, medical bills, car loan, mortgage, medical need for his mother, schooling fees and tuition fees for his children.
–>His family may loss of house resulting from unable to pay the mortgage. They will loss the only shelter.
–>They may need to borrow money from relatives or get help from social welfare organization through fundraising for immediate expense like costs of funeral expense and medical bills.
–>His wife will need to seek for job to financial support his mother and their children, end up that nobody to take care of his mother and children.
–>His children may force to enter job market earlier as unable to pay college fees.
–>Any emergency need arising in the future will creates another big impact and burden to them.

Scenario 2 with life insurance:

A big amount of insured money will be given to beneficiary. With the right coverage life insurance Allan purchase, the amount will able to pay off the mortgage in one go, an amount of money to support his two children college life until they are graduate, and daily expenses needed in future including immediate expenses.
–>His housing loan mortgage balance is fully paid off. They can continue stay there and own the house.
–>His wife can continue to stay at the house, take care of his mother and their two children.
–>His mother medical bills that may arise in future are taken care of.
–>His children can concentrate on their study, complete their college.

All the financial expenses are taken care of by life insurance that Alan has bought, thanks to his sound financial planning and mindset of protection for any unexpected.

Right life insurance coverage tailored to individual need play s the most important part for the success of life insurance role in financial planning and protection. Tomorrow and unexpected, which one will come first? Who know?

Property Management and Property Consultancy, One Stop Renovation services, Mortgage, Housing Loan Insurance MLTA

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China Developer Greenland Group

Malaysia is turning into the sweet spot for China developers. China developers turn their target as market restrictions in Hong Kong and Singapore become tougher and tougher. They are looking for cheaper housing and higher returns in Malaysia.

China state-backed Greenland Group announced this month to invest a US$3.3 billion deal in 2 residential and hotel projects in Johor Bahru, Flagship A Iskandar Malaysia. This is 4th China developer to invest into Iskandar Malaysia following its peers Country Garden, Guangzhou R&F Properties, and Agile Property Holding, which have invested in Iskandar Malaysia Flagship A, Johor Bahru City Center with a combined 2.7 billion US dollar in the past 2 years since January 2013.

In 2013 alone, Chinese investors invested a total of US$1.9 billion into real estate in Malaysia, exceeding the US$867 million invested in Hong Kong, US$1.8 billion in Singapore and US$1 billion in Australia, according to real estate consultancy Savills.

Zhang Yuliang said that Malaysia hosts a vast Chinese community and has foreigner friendly policies to attracted foreign buyers such as Malaysia My Second Home MM2H. These foreigner friendly policies has make Malaysia become a new investment destination.

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He added that Malaysia has enjoy stable economic growth, high population demand, well connectivity within the region and Iskandar Malaysia is located at strategic location which near to Singapore separated by a causeway. These factors are the reasons for Greenland Group to invest at the Iskandar Malaysia.

According to Tim Murphy, CEO of IP Gobal, Malaysia property prices are the cheapest in the region. He added that Malaysia has strong foreign property ownership and loose lender policies. Mortgage terms are lower compares to region. Foreign buyers able to borrow up to 70% of property price, while Singapore is 40% to 60% and Hong Kong is 30% to 50%. Rental yield also more attractive in Malaysia at 4% compares to Singapore and Hong Kong which is 3% and 2.5% respectively.

Beside that, 15% stamp duties on foreign buyers are imposed in Hong Kong and Singapore. Foreigners are blamed for pushing up local property prices over the past few years. This policy has deterred many foreign buyers especially China investors.

Property Management and Property Consultancy, One Stop Renovation services, Mortgage, Housing Loan Insurance MLTA

Alvin Mah
016 – 888 4292 / alvin-ma@live.com
Property consultant
Website: http://mproperty.asia
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New price ceiling for foreigner buyer in Iskandar Malaysia

Johor, Malaysia – Mentri Besar Datuk Mohamed Khaled Nordin said that with effective from May 1, new ceiling price of RM1mil for foreigners buying properties in Johor will kick in. With this new ruling, it means that currently foreigners who buy Johor property above RM500,000 will need to buy it at the price of RM1 million and above starting 1 May 2014.

Mentri Besar Datuk Mohamed Khaled Nordin said that the new ruling would not affect developers who had received approval permit for their projects or already on constructions before 1 May. Developers within these categories will continue to sell the properties based on old price ceiling, which is RM500,000 to foreign buyers.

Mohamed Khaled told reporters at the pre-launch of 351 units of affordable houses that were priced between RM80,000 and RM150,000 by UEM Sunrise Bhd here yesterday.

Effective yesterday, the ceiling price of foreigners buying properties in Kuala Lumpur, Putrajaya and Labuan were RM1mil per unit, up from RM500,000 previously.

The Economic Planning Unit had on Friday said that for other states, the actual enforcement date was subject to the respective state authorities.

Besides of the new ceiling price, the foreigners processing fee of RM10,000 will lift up to 2% of property price. This will translate to higher processing fee based on individual property price proportionally. For instance, current RM1 million property foreigner buyer only need to pay RM10,000 for the foreigner processing fee, but in future he need to pay RM20,000 for the foreigner processing fee.

Asked if the presence of international property developers in Iskandar Malaysia, especially those from China, would create a glut in Johor, Mohamed Khaled said this was unlikely to happen.

Admitting that there were concerns about large-scale projects by international property developers that offered thousands of units of residential properties, he said that they had a strong financial background.

Mohamed Khaled said that action would be taken against developers who failed to build affordable houses despite having received approval from the authorities.

The project by UEM Sunrise would also see the company pledging to build 10,000 units of affordable homes in Gerbang Nusajaya, which will be launched in phases starting this year.

 

Property Management and Property Consultancy, One Stop Renovation services, Mortgage, Housing Loan Insurance MLTA

Alvin Mah
016 – 888 4292 / alvin-ma@live.com
Property consultant
Website: http://mproperty.asia
Property Consultancy and Property Management services, Renovation and Refurbishment Services, Mortgage and Housing Loan Insurance services

Your service delivery and trustworthy partner.