Iskandar Malaysia has emerged as an investment destination in Asia
Attracting more investors in this 221,634-ha economic development zone. The region has been named after the late Sultan Iskandar and includes the city of Johor Bahru. It is twice the size of Hong Kong and about three times the size of Singapore.
The region comprises five development zones and envisions a city that incorporates green technology, including renewable energy sources, in its buildings and landscapes. By 2025, population within the economic zone is expected to hit around three million.
Legoland Malaysia, the first Asian theme park in the region, opened in 2012 and a variety of business, entertainment, and education venues are also opening or underway from food processing to petrochemicals and motor speedway.
Moreover, demand for residential, retail and industrial properties in Iskandar also increased, with the latter deemed to bring more job and economic growth in the region.
The influx of investors has fuelled the increase of real estate prices, keeping them beyond the reach of local residents. However, property prices are still reasonable within the region and local Johor residents currently owning property are expected to benefit from the increase in value of their assets.
Farah Wahida, Editor of PropertyGuru, wrote this story. To contact her about this or other stories email email@example.com