We paid particular attention to Iskandar, Johor. From literally plantation estates and nothing more, it became the “Promised land” to many developers, investors and property owners.
Over the last few months, there has been a series of mega land deals, some involving land reclamation. This has shocked the market and changed sentiment.
|A photo of Puteri Harbour Masterplan obtained from UEM Sunrise Sales Gallery|
The latest launch last weekend is by Singapore-based Pacific Star Development Pte Ltd in Puteri Harbour, Iskandar. The Puteri Cove project comprises three 33-storey residential towers with almost 1,000 units on 7.8 acres of land.
Tower 1, with 329 units, was launched several months ago and currently has a roughly 70% booking rate.
Tower 2, also with 329 units and 33 storeys, was launched last weekend. It attracted a booking rate of only about 25%.
Read more on this in The Edge this week.