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Judging by the pace of Chinese property investors snapping up properties in Johor Bharu and Iskandar Malaysia, don't be surprised if the city landscape of this southern city is transformed into Shanghai in the future.
The possibility of Johor Bharu gradually becoming "South East Asia's Shanghai" is very real following the influx of property investors from the land of the Great Wall spending billions of ringgit to buy parcels of land in the city which is a stone's throw away from Singapore.
Without a doubt, the Chinese property guns which have the financial strength are now the leading property players in Johor Bahru's real estate and Iskandar Malaysia, leaving other property concerns far in their wake.
Eventhough local property firms like Mah Sing and SP Setia are also active, their property investments are no match and chicken feed compared to the Chinese investors.
Investors from across the causeway such as Temasek and Capitaland which have property projects in Johor Bahru and Danga Bay are also second fiddle compared to the Chinese and cannot keep up with the huge appetites of the Chinese realtors.
"Johor Bahru and Iskandar Malaysia are now an artery flush with cash from the mainland," said a local property official with commercial property projects in Medini, Iskandar Malaysia under its belt.
The list of Chinese property companies setting up their offices in Johor Baharu and Iskandar Malaysia is getting longer and longer and will continue to grow longer if the current momentum continues.
Recently, Greenland Group which is one of China;s largest property players based in Shanghai has announced it is close to snare plots in Danga Bay for its syndicated land development.
Its chairman Zhang Yuliang said its concern will spend RM3 bilion to purchase land in Danga Bay via its partnership agreement with Iskandar Waterfront Holdings (IWH).
Last Friday, Zhang spearheaded the Greenland delegation to hold discussions with IWH in Johor Bahru.
"We will ink a deal with IWH soon" said Zhang, of which sources said Greenland is expected to buy 60 ha of land in Danga Bay.
Greenland which is one of China's top ranked property concerns is also ranked no 359 on Fortune Global 500.
Danga Bay which is situated in Johor Bahru is now the number one property spot for international investors of which even its managing director Tan Sri Lim Kang Ho readily admits as Danga Bay is now a magnet for propery projects worth RM125 bilion.
Other than Greenland, China's seventh largest property firm Country Garden Holdings Ltd also has a syndicated property deal in Danga Bay.
In 2012, the firm plunked in RM900 million to buy land in Danga Bay to develop a mixed development project with a gross development value of RM18 bilion.
Under its development plan is the construction of 9,000 luxury condos of which a large majority of the units has been snapped up by buyers from the mainland itself as soon as it was launched in the middle of last year.
At the time, Country Garden which is listed on the Hong Kong stock exchange has in hand 100 property projects which are under various stages of development in China, Hong Kong, Malaysia and other countries.
Another company, Hao Yuan Investment which is controlled by China shareholders has also ploughed in RM1.6 bilion to buy six plots mesuring 15 hecteare in Danga Bay.
It also has plans to launch various property projects with a gross development value of bilions of ringgit.
Last December, China Guangzhou R & F Properties Co Ltd which is also listed on the Hong Kong stock exchange has also forked out RM4.5 bilion to buy six land plots in Johor Bharu from Sultan Johor.
Zhuoda Real Estate Group, which is one of China's top property companies with RM25 bilion in assets has launched mixed development property projects with a gross development value of RM2.5 bilion in Medini, Iskandar Malaysia. - MALAYSIAGAZETTE
KENAPA?.. Kenapa dibumi yang dikuasai oleh sebuah parti yang kononnya memperjuangkan bangsa Melayu dan agama Islam tanah air ini tergadai??