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BCB Upbeat On Iskandar Property Outlook

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Property developer BCB Bhd remains bullish on the outlook of the Iskandar Malaysia property market, reported The Star.

According to group managing director Datuk Tan Seng Leong, the large presence of foreign and domestic investors will generate demand for commercial and residential properties within the economic corridor.

Launched 10 years ago, Johor’s Iskandar Malaysia continues to attract robust interest from investors across the world.

“This momentum will likely continue despite the current challenging economic situation,” said Tan after the company’s EGM and AGM.

In fact, the company’s flagship high-end condominium project Elysia Park Residence @ Medini, Iskandar Malaysia received good response from buyers during its launch in August this year, he said.

The RM1.2 billion project is nestled on a 3.16ha site, featuring six tower blocks with a nine-storey car park podium.

A joint-venture project between BCB and Hong Kong-based developer United Harvest Group Co Ltd (UHG), it will be developed in a period of five years.

“We have sold 75 percent of the 335 units from our first tower block of 44 storeys. Of that, 50 percent were sold to Malaysians while the remaining units were sold to Taiwanese, Singaporeans, South Koreans and mainland Chinese buyers,” added Tan.

Executive director Tan Vin Sern revealed that the second tower block of 42 storeys with 334 condo units is set for launch in 1H 2016.

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