Iskandar Malaysia SEZ Investment Blueprint Expected To Be Unveiled By Year-End -- RHB IB
KUALA LUMPUR, Aug 3 (Bernama) -- The Federal Government is expected to unveil the Special Economic Zone Investment Blueprint and Master Plan for Iskandar Malaysia by the end of the year, said RHB Investment Bank Bhd (RHB IB).
In a note today, RHB IB said it was more confident about the near-term prospects of the Iskandar Malaysia property market.
“December should also see the completion of a major cross-border infrastructure network, the Johor Bahru-Singapore Rapid Transit System (RTS) Link, which should boost market sentiment and investor confidence in the state’s growth prospects.
“Local and foreign investment interest in manufacturing and data centres is expected to remain intact, and this should continue to support demand for properties, including landed homes, commercial shops, industrial land and properties, as well as selected high-rise projects in Johor,” it said.
RHB IB said major land transactions driven by data centre players continued to provide revalued net asset value (RNAV) re-rating potential for developers with sizeable landbank exposure in Iskandar Malaysia.
“Tier-1 developers such as Eco World Development Group Bhd (EcoWorld) and Mah Sing Group Bhd are also diverting more resources towards the industrial development segment in Iskandar Malaysia.
“EcoWorld’s two new industrial parks — Eco Business Park 8 in Kulai and Eco Business Park 9 at Ibrahim Technopolis, or IBTEC — are scheduled to be launched by the end of financial years 2026 and 2028, respectively.
“Mah Sing, meanwhile, has obtained shareholders’ approval to acquire 169.56 hectares (419 acres) of freehold land in Kulai from Kuala Lumpur Kepong Bhd, paving the way for its MS Industrial Park project, which has an estimated gross development value (GDV) of RM2.26 billion,” it said.
Meanwhile, RHB IB said the Klang Valley property market is expected to remain resilient.
“The recent launch of the new Light Rail Transit 3 (LRT3) Shah Alam Line, linking Bandar Utama to Johan Setia, marks another milestone in the Klang Valley’s infrastructure development.
“In our view, demand for bread-and-butter products, such as landed township properties, and industrial land and properties, should remain healthy,” it said.
RHB IB has maintained its “Overweight” call on Malaysia’s real estate sector
-- BERNAMA