In light of the upcoming Singapore-Kuala Lumpur High Speed Rail (HSR), the series of property measures which have been introduced and the strength of their currency in comparison to Malaysia’s, more and more Singaporean investors are taking an interest in the property market just north of the border.
The average residential value for Johor properties has risen some 45% over the past five years to RM197,147 in 2012 from RM136,034 in 2009. Comparatively, the country’s average residential value has only gone up by 30% in the same period to RM248,515.
Designed as the Central Business District (CBD) of Nusajaya, Iskandar Malaysia, Medini is now equipped with new roads and access to highways. It is also home to Asia’s first Legoland theme park.
Accessibility will never be an issue here because in addition to the HSR which will link Singapore to Johor Bahru and Kuala Lumpur, there is the Rapid Transit System (RTS) network which will connect to the MRT line by 2018 and have a station that is to be located just next to Legoland Malaysia. Medini is also a prime area where Khazanah Nasional and Temasek Holdings are involved in two joint-venture projects which are Afiniti Medini and Avira Wellness Centre.
The Elysia Park Residence will be making its presence felt in Medini soon. Sprawled across 7.82 acres of land in Medini, Nusajaya, the development is expected to garner much attention and interest.
Residents who value the presence of greenery will certainly appreciate the 4-acre park that is right next to the development. It has also been designed to offer a garden that is no ordinary one but is in fact a Sky Garden that redefines the concept of “taking a walk in the garden”.
There are eight unit layouts to choose from with builtup sizes that range from 515 sq ft to 1,251 sq ft which are ideal for first-time homeowners, young couples and small families. All in all, there are a total of 961 units available and the leasehold tenure for the development is 129 years long.
The Elysia Park Residence will be launched in the second half of 2015.
There are a multitude of very convincing reasons why The Elysia Park Residence makes for a sound investment option. For starters, these apartments will be located next to Gleneagles Medini Hospital which is expected to begin operations in the second half of 2015. This will further add momentum to the area by attracting medical travellers. The 300-bed hospital will have an initial capacity of 148 beds and offer a comprehensive range of specialties including cardiology, otolaryngology or ear, nose and throat (ENT), obstetrics and gynaecology, oncology, ophthalmology and orthopedics.
Aside from the obvious benefits of being in Iskandar Malaysia’s future Central Business District with many exciting mega shopping malls springing up around it, the development is also only 2 minutes away from Mall of Medini and Legoland Malaysia. Additionally, EduCity, Puteri Harbour Family Theme Park, Kota Iskandar, the Southern Industrial and Logistics Clusters (SiLC) and Pinewood Iskandar Malaysia Studios which are only slightly further away provide a large growing catchment for the project.
Connectivity-wise, The Elysia Park Residence is easily accessible via the Iskandar Coastal Highway, Eastern Dispersal Link (EDL), Johor Bahru East Coast Highway and Senai-Desaru Expressway. It alo enjoys the benefit of being only 5 minutes away from the Second Link Customs, Immigration and Quarantine (CIQ) toll.
As for the development itself, the fact that the units each come equipped with a multi-tier security system, are furnished with high-quality finishes and have a reasonably low entry price is something that is sure to appeal to many. Further sweetening the deal is the 99year lease that comes with an additional 30 years added to it as well as Medini-specific benefits such as the lack of the RM1-million price cap for foreigners, foreign quota and Real Property Gains Tax (RPGT).
Last but not least, those concerned that finding tenants for The Elysia Park Residence need not worry. Despite being only approximately 20% complete, Medini has an estimated population of 50,000. Furthermore, Nusajaya’s projected population size by 2025 is 500,000.
The Elysia park Residence is a project by BCB Berhad, a developer with 26 years of extensive experience in the property industry to its name. It was incorporated as a private limited company in 1988 under the name Kemajuan Buditama Sdn Bhd and was listed on the Main Board of the KLSE as BCB Berhad in 1996.
Led by its founder Dato’ Tan Seng Leong who is known as the Father of Kluang for his key role in the town’s significant growth, the company has to date a total of 11 completed projects with another 11 in various stages of completion in Kluang, Johor Bahru, Batu Pahat, Seremban, Kuala Lumpur and Selangor in its portfolio.
The developer scored two major accolades at iProperty. com Malaysia’s People Choice Awards 2014 when its Concerto North Kiara project in Dutamas, Kuala Lumpur won the Best Luxury High-rise Development award and Long Branch Residences, the first phase of its HomeTree development in Shah Alam, Selangor won the Best Luxury Landed Development award.