UMLand still Positive about Iskandar Malaysia

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UMLand operates two development divisions, namely the Township and Niche Divisions and a construction and building materials division called UM Land Builders Sdn Bhd. The group has over 1,800 acres of undeveloped land in both Township and Niche Divisions.

The group has undergone a big restructuring exercise with Dennis Ng being named the new Group Managing Director.

“The vision remains the same but with the new structure, we will be venturing into new businesses and targeting new customers,” said Dennis in a meet and greet session with members of the press, recently.

Currently, UMLand is actively developing a mixed development project Suasana Iskandar Malaysia in Johor Bahru City Centre, a multi-phased mixed development UMCity Medini Lakeside in Medini, Iskandar Malaysia, a modern integrated industrial park, Johor Halal Park in Pasir Gudang, and Seri Austin and Seri Alam Townships. Also in the pipeline is the development of The Waves @ Puteri Harbour as well as Viridea Lakeside in Medini.

“We continue to believe in Iskandar Malaysia and we’ve been here for a long time and we’re looking at the long term prospects. We have a number of new projects coming up in Iskandar Malaysia which will be announced in due time,” said Dennis.

Dennis also added that the property market as a whole is sluggish but with the recent announcement from Bank Negara on the reduction of the Overnight Policy Rate (OPR) will be helpful. The recent signing of the High Speed Rail MoU will also help bring a lot of interest from Singaporean investors.

“We expect the market to remain on the challenging side, but the expectation is that once the market gets better; it will get better quick,” said Dennis.

 

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