Greenland confident of Iskandar ventures
Shanghai-based Greenland Holdings Group remains bullish of its two ventures in Iskandar Malaysia despite fears of a property glut within the economic region, reported the media.
One of its projects is a 5.21ha mixed development project in Permas Jaya while the other is the 5.65ha serviced condominium luxury project, Jade Palace at Danga Bay.
We believe that in the next three to five years a lot of factories in the republic (Singapore) will shift their operations to Iskandar Malaysia, and this will have a spillover effect on the economic region and even help long-term development in the state, said Greenland Groups general manager for Malaysia Wu Shaohua after the opening of the companys show gallery at Menara Landmark.
Look at Singapore, which has a population of about five million. There are new projects being launched from time to time, but we do not see any property bubble at the moment...And this is where we derive our confidence from for the fast-growing Iskandar Malaysia, explained Wu.
He revealed that the group expects property demand to continue to grow with the emergence of a new generation of buyers looking for new homes which are of high quality.
Thats enough reason for us to come to Iskandar Malaysia, added Wu.
In fact, Wu is also optimistic of the regions property market despite concerns over infrastructure.
There are a lot of projects mushrooming in Iskandar Malaysia. However, after we have carried out a study, we found that supply is still not enough to meet demand, he said.
Our products are different from those in the local market. We are committed to improve Malaysians living standards by setting a new lifestyle benchmark.
Farah Wahida, Editor of PropertyGuru, wrote this story. To contact her about this or other stories email farahwahida@propertyguru.com.my
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