RTS to Shorten Travel Time Between JB and Singapore

IM2

The Rapid Transit System (RTS) Link connecting Singapore’s Woodlands with Bukit Chagar in Johor Bahru is expected to ease the travelling time between both countries.

On Monday (22 September), state-owned transport firm Prasarana Malaysia and Singapore’s SMRT Corp have signed a memorandum of understanding to create a joint venture to design, fund, build, operate and maintain the 4km rail line.

Next Tuesday, both entities will jointly hold a briefing to update would-be bidders on the tender process. The governments of Singapore and Malaysia will also sign a legally-binding agreement with the project’s full technical details by December 2017, and launch the tender thereafter.

Upon completion by December 2024, 10,000 commuters will be able to travel across both countries per hour using the RTS link. This is expected to speed things up as about 126,000 cars cross the causeway between Singapore and Malaysia per day, making it one of the busiest crossings in the world.

The improved transportation system is anticipated to attract more people to live in Johor, particularly in the Iskandar region, where home prices are more affordable.

This is because it would be easier to make the daily crossing into Singapore, where wages and exchange rates are higher but property prices are more expensive.

In turn, this is expected to reduce the oversupply of houses in the Iskandar region, where many China-based developers are undertaking major developments like Country Garden’s US$100 billion Forest City project which consists of four man-made islands.

As of July 2017, the government of Johor Bahru approved a total of 344,977 units. However, the Penang Institute said in August that about a third of this remains unsold.

Collectively, China-based Greenland Group and Country Garden account for 12 percent of the overall number of residential properties in Johor Bahru, but two-thirds are still looking for buyers as these units were mostly marketed to people from mainland China before Beijing restricted money outflows to overseas real estate.

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High Speed Rail (HSR) raises Hope for Iskandar’s Recovery

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The Kuala Lumpur-Singapore High-Speed Rail (HSR) is expected to contribute RM21 billion in gross domestic product (GDP) growth to Malaysia and Singapore and create 111,000 jobs by 2060.
Land Public Transport Commission (SPAD) CEO Mohd Azharuddin Mat Sah, said through a comprehensively inclusive plan, the HSR was expected to deliver significant socio-economic benefits to both Malaysia and Singapore.
“The KL-Singapore HSR is a game-changer and it will pull isolated regions closer, spur growth and development and help several towns along the way and unleash their hidden potential by making them highly accessible, not just to tourists, but also to workers and investors,” he said in his opening keynote address at the 4th International Summit of the HSR Asia 2017 today.
He said the HSR project is expected to not only transform the transport landscape but also create long-term economic and social benefits for Malaysia.
“We expect the HSR to substantially increase the number of travellers across the two countries, and under the transit-oriented development concept, engender economic activities along its route, including and not limited to business activities in the surrounding areas of the stations,” he said.
He said there is so much pent-up demand for travel between Kuala Lumpur and Singapore, as seen by the number of cross-border buses and flights between the two cities.
“Introducing the rail into the equation will offer a competitive option that promises to not just save time but also lead to many other opportunities,” he said.
Nevertheless, he said, there were complex issues to be worked on, including funding options, network expansion, capacity increment, communications and signalling and safety and security.
“In this regard, complex undertakings like a cross-border high-speed rail cannot be executed by looking at mere anecdotes or skimming through easy examples – we need to analyse comprehensive data sets to arrive at more robust conclusions,” he said.
He said that together with its counterparts, Land Transport Authority of Singapore (LTA), SPAD would ensure that safety remained the key consideration in design and operations of the HSR.
Mohd Azharuddin said following the success of the first industry briefing held in Singapore on July 5, MyHSR Corp Sdn Bhd and LTA would jointly conduct the second briefing in preparation for the HSR tender.
“The second briefing, which is scheduled for Sept 26, 2017, will provide in-depth information on technical, commercial and project governance aspects of the project and also serve as a platform to share key features of the project with the industry and interested participants.”
He said Malaysia and Singapore are expected to sign a bilateral agreement for the Johor Baru-Woodlands Rapid Transit System Link project this December.
The two-day summit, which starts today, discussed the challenges and opportunities in high-speed rail and rail construction in Asia based on the success of other countries.

 

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Persons to Contact @ www.teega.club

Joey De Silva   +60129442643   (Executive)

Joel De Silva    +60177138789    (Manager)

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Danny Chua     +601128769911  (MD)

 

Your Airbnb Vacation Rental Management Solution

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Sunway Iskandar – Citrine Designer Offices for Rental

Sunway Iskandar – Citrine Designer Offices for Rental

Unit 3A-10 755 sq ft available for sales at RM700K or Rental at RM2500 pm. PM Danny Chua or app +601128769911

Citrine at The Lakeview housing practical Boutique Retail, contemporary Designer Offices and practical Citrine Residences, has a 20-acre Emerald Lake garden as its neighbour, cradled by a 5km cycling track/jogging trail. Inspired by a rolling landscape, Citrine at The Lakeview is designed to capture the timeless beauty of nature within a well-thought infrastructure. Crafted to become a sustainable and eco-friendly landmark, natural lighting, air ventilation as well as rainwater harvesting systems are just a few green features embracing this integrated development. Situated within the city of Medini, Citrine at The Lakeview is crafted to showcase an awe-inspiring lifestyle within exquisite designs.

The Designer Offices take convenience and desirability to a new level combining lower floors of retail amenities and an annexed serviced residences. Right from its statement glassy façade to the incorporation of advanced infrastructure, every aspect has been meticulously set up that serves its purpose as a world-class working environment enveloped with eco-friendly and energy-savings features. The modular office suites are the perfect platforms for one’s business to excel, and are highly adaptable making them ideal for establishments of virtually any industry and any size.

UNIQUE FEATURE

Special Privileges like:

Direct Access of approximate 5km to Singapore 2nd link
Next to Sunway International School (ready by 2017)
Real Property Gain Tax Exemption
Special Medini Incentive Scheme
No Foreign Capping; Foreigners able to purchase at any price
Lakeview Lifestyle with scenic view of mangrove nature reserve, medini & sea

CONNECTIVITY

5km to Singapore Second Link via Coastal Highway Southern Link (CHSL)
5km to Pinewood Studio & Legoland Theme Park
8km to Puteri Harbour& EduCity
24km to Johor Bahru
35km to Senai International Airport
46km to Singapore’s CBD
66km to Changi International Airport
Future Accessibility

Ferry Service to Singapore & proposed MRT by 2018 to Singapore
Upcoming Coastal Highway Southern Link (CHSL) Sunway Iskandar to Second Link (Tuas Causeway) (completed by 2017)
Proposed LRT from Iskandar Malaysia to Johor Bahru (JB) city centre by 2020
Proposed High Speed Rail (HSR) from KL – JB – Singapore by 2020

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Lendlease to expand into Iskandar Malaysia with Retirement Villages

Lendlease intends to sell up to half of the retirement village business, which is said to be worth A$2 billion. Likely bidders are Singapore’s GIC and New Zealand’s infrastructure group HRL Morrison, according to The Australian Business Review. “We are looking to bring in co-investors and actively continue to grow the business,” says Lombardo. This will allow Lendlease to reinvest in new villages as well as refurbish and update the care facilities in the existing villages, he adds.

Besides looking to maintain its pole position in Australia, Lendlease has also set its sights farther afield. It is looking to expand the senior living village business to Shanghai, given China’s huge population base, says Lombardo. “When you look at China’s demographics, there will be more than 400 million people over the age of 65 by 2050, and they will require retirement villages to move into.” As such, Lendlease intends to be a first mover in the market.

Elsewhere in Asia, Lendlease sees Iskandar Malaysia as another ideal place for the development of retirement villages, owing to its lower land cost and operating costs, adds Lombardo. In addition, Iskandar Malaysia’s proximity to Singapore will be a plus for ageing Singapore citizens looking for affordable retirement villages, he says.

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HSR can power economic growth

HSR

Much has been said about how the anticipated high speed rail (HSR) from Kuala Lumpur to Singapore will slash travel time to as few as 90 minutes, thus expediting the rapid movement of people between the two countries.

However, this particular HSR project is much more than just a mere transportation project, even if its very basic premise is to shorten travel times.

Critics who rail against the project on the grounds that there is very little, if at all any, need for one to be whisked rapidly to and from Singapore, often miss the fact that there is now an opportunity to create entirely new townships around the seven stations on the Malaysian side – Bandar Malaysia (KL), Putra­jaya (and by extension, southern Selangor), Seremban, Ayer Keroh (Malacca), Muar, Batu Pahat and Iskandar Puteri (all in Johor).

HSR has the ability to compress geographical distances, and with that, change entirely how people live, work and play.

Imagine the ability to get to Seremban from KL in possibly no more than 25 minutes.

Love Malacca? A trip from Bandar Malaysia to Ayer Keroh can be made in approximately less than 40 minutes, which is even shorter than what some Klang Valley residents endure while driving to and from work every day.

And for Muar and Batu Pahat residents with jobs in Singapore, daily travel to work can be as short as approximately 45 minutes and 30 minutes, respectively.

This drastic shortening of travel times will open up many possibilities, some of which are unimaginable in the pre-HSR era, contends MyHSR Corporation Sdn Bhd, the Finance Ministry-owned entity tasked with managing the bilateral project.

Synergy is the key

“The HSR will enable the spreading of development out of the Klang Valley,” says MyHSR Corp CEO Mohd Nur Ismal Kamal.

“It will uplift the Gross Domestic Product (GDP) for the entire southern corridor, and the country’s as well. Not everything has to happen in KL anymore. This is similar to the idea behind the United Kingdom’s HS2 (high speed rail project) where they are trying to rebalance the economic growth by spreading development to central England, the Midlands.”

The Malaysian government wants to harness the agglomeration of resources and human capital from combining Kuala Lumpur with Singapore, along with six Malaysian cities.

“It is about being seen as an integrated market when multinationals and investors look at the area. Combining KL (six million people) with Singapore (five million) gives a population of around 11 million, which is a larger consumer market and talent pool compared to viewing the two cities separately. This is enabled by the fact that people can move freely from end to end in just 90 minutes,” says Mohd Nur.

“It is not about size nor ranking, but about being seen as an integrated market in many aspects, including GDP. When you bring cities closer together, they start acting like a large single entity. In this case, HSR is able to overcome physical distance by shortening travel times.

“The HSR will further enhance the GDP growth of intermediate cities such as Seremban, Ayer Keroh, Muar and Batu Pahat when managed properly in tandem with the availability of HSR.

“With the HSR operational in 2026, you could potentially have vibrant cities along the southern corridor all the way to Singapore,” he says.

Plans in place

MyHSR has been conducting extensive studies of HSR-related developments globally to find the right model for Malaysia.

It is cognisant of the fact that the mere presence of HSR in a town alone is no guarantee for success. In particular, it wants to emulate the examples found in Shin-Yokohama after the Tokyo-Osaka HSR started operations in 1964, as well Lille’s following the commencement of the London-Paris HSR service in 1993.

“Developments and activities around the stations have to be planned from the start,” says Mohd Nur.

In Shin-Yokohama, the development of the biotechnology and ICT industries happened with target policies and incentives driving the efforts. Combined with other enabling components of a city such as improved connectivity through public transport, the city saw an increase of 147% in the population and approximately 700,000 jobs created from 1966 to 2006.

To prevent sub-optimal developments from sprouting around HSR stops, MyHSR Corp is collaborating with public and private agencies to ensure that everyone is on the same page. Thankfully, all the states are clamouring for HSR, which is a good start, according to Mohd Nur.

“Besides the partnership with Economic Planning Unit, we are working with other federal government agencies, state authorities, statutory bodies, as well as private organisations and associations to ensure all the benefits arising from HSR will be realised.

“We are helping to set the direction of development. To spur the right kind of activity or industry, our plan will have incentives, the provision of basic infrastructure, and so on. All this requires federal intervention, and all parties have to work together to push this comprehensive agenda forward.

“In this regard, the conversation to create synergy has to cut across the entire corridor, rather than leaving them to grow on their own. We have to ensure complementary growth – this goes back to minimising overlapping, to allow each city to capitalise on their respective unique propositions,” says Mohd Nur.

Alignment of interests

The HSR can help to realise the aspirations in the 11th Malaysia Plan (2016-2020), the Economic Transformation Programme, the Government Transformation Prog­ramme, the respective State Struc­ture Plans, as well as Local Struc­ture Plans (Rancangan Struk­tur Tempatan).

“All these will be taken into consideration in our Strategic Deve­lopment Framework (SDF), which is premised upon the economy, inclusiveness, and sustainability pillars. There are efforts to ensure effective local participation, and there definitely has to be a spillover of benefits to locals in terms of jobs, transit oriented developments, and so on,” says Mohd Nur.

“MyHSR Corp has been actively doing many engagements over the entire year, going back as far as January. There were labs with the public and private sectors to test the viability of ideas and proposals,” he says.

Mohd Nur stresses that every­thing about HSR-related developments is never top down.

“This is not an independent plan crafted in a silo. It is about fulfilling earlier plans like the ETP and so on, and giving them a much needed boost.

“A lot of the components of the ETP are incorporated, with focus areas including healthcare, tourism, and financial services. It is about alignment of interests.

“The right (federal) incentives will be there to spur the desired kind of activities, and we are working with Mida, Matrade and Miti to come up with them,” says Mohd Nur.

He assures that there will be intense joint scrutiny of every development proposal to ensure they make economic and rational sense.

The big picture

For sure, the HSR project is capital intensive, even if MyHSR is in no position to reveal how much it expects the final cost will be as an international tender will be called soon.

“We should not merely look at the financial payback period. We are looking more at the economic rate of return, which is way more important,” says Mohd Nur.

Based on a study conducted in 2015, the wider spillover benefits from HSR is estimated in the region of RM21bil of GDP in 2060 with 111,000 jobs created. This is on top of the direct and indirect GDP impact in the region of an estimate RM29bil, as well as RM70bil in multiple benefits from the construction process.

“It is not just building a railway. It is about turning the southern corridor of the country into an economic powerhouse, which is all part of a grander plan to achieve the aspirations of the country by creating jobs and wealth so that we can be a high-income nation.

“There is a plan, and we are putting into place a mechanism to make the plan happen,” says Mohd Nur.
Read more at http://www.thestar.com.my/news/nation/2016/12/24/hsr-can-power-economic-growth-the-klsingapore-high-speed-rail-project-is-more-than-just-about-fast-t/#Q0IlEQ5yRiaYldCq.99

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Two highly anticipated Singapore condos to launch in Feb 2017

Following the Chinese New Year lull period, developers are gearing up to launch two private residential projects in Singapore. One of them is The Clement Canopy, the first condominium to be launched this year, with its showflat opening for preview this Saturday (11 February).

Jointly developed by UOL Group and SingLand, the 99-year leasehold development in Clementi Avenue 1 will comprise two 40-storey blocks of 505 condo units. Buyers can choose from two- to four-bedroom units ranging from 635 sq ft to 1,539 sq ft.

“We are riding on the positive market sentiment and launching The Clement Canopy with a unique approach of doing away with one-bedroom units. Instead, we have introduced a variety of two-bedroom apartments, which are affordably priced from $850,000,” said Liam Wee Sin, Deputy Group CEO at UOL.

In fact, 194 of the units (40 percent) are two-bedders sized from 635 sq ft to 732 sq ft, while prices of all the units range from $850,000 to over $1.62 million.

“Given its close proximity to NUS and the second CBD in Jurong, The Clement Canopy will appeal to both investors and owner-occupiers. For our initial launch, we are going out at an average price that ranges from $1,330 to $1,360 psf,” said Liam. The project is expected to be completed in 2020.

Located near the Clementi MRT station, the development will come with full condo facilities, including smart home features. The developers will also incorporate smart technology within the common areas and facilities, such as the tennis court and clubhouse.

Meanwhile, CEL Development, the property arm of Chip Eng Seng Corporation, will soft launch a 720-unit condominium in the east next weekend.

Dubbed Grandeur Park Residences, the 99-year leasehold development along New Upper Changi Road / Bedok South Avenue 3 will feature one- to five-bedroom units.

Located within walking distance from the Tanah Merah MRT station, the project boasts a three-generational (3G) gym that comes with state-of-the-art equipment. It is also one of the few condominiums to have Omnia gym equipment.

According to Raymond Chia, Executive Chairman and Group CEO of Chip Eng Seng Corporation, buyers will be “treated to a year’s worth of complimentary fitness and lifestyle classes and activities”.

In fact, the developer has teamed up with Amore Fitness to organise fitness classes, such as Zumba classes and Pilates sessions.

Scheduled for completion in 2021, unit prices at Grandeur Park Residences range from about $500,000 to over $1.4 million. In addition, there are two shops priced around $3,500 psf.

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