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1.

4 Future Prospect

Johor Bahru is located near Singapore, creating an economic powerhouse close to the
gap between Malaysia and Singapore. Despite its proximity to Singapore, until the launch of
the Iskandar Malaysia development corridor in 2006, the Johor Bahru property market had
never received the same kind of attention as the Klang Valley or Penang markets. Iskandar
Malaysia covers an area of 2,217 square kilometers and is three times the size of Singapore.
Its development is focused on five flagship areas, namely the center of Johor Bahru, Nusajaya
(now known as Iskandar Puteri), the development of the Western Gate (focused on Tanjung
Pelepas Port), the development of the Eastern Gate (focused on Pasir Gudang) and the Senai-
Skudai area. Iskandar Malaysia aimed to turn South Johor into an area of development with 3
million people, 1.46 million jobs and 93.3 billion US dollars of gross domestic product by
2025.

Figure x: Iskandar Malaysia

In the housing market of Iskandar Malaysia there is a concern about the supply. In the
next few years, coastal projects in Danga Bay and Princess Cove alone will account for
52,000 to 62,000 houses entering the supply stream. However, good economic fundamentals
support Iskandar Malaysia. It is not a property project, but an economic area with well-
planned catalysts that will boost the regional economy, create jobs, and stimulate rapid
population growth. It has got strong government backing, both in Malaysia and Singapore.
No less than the Prime Ministers of both countries are spearheading policy-level efforts.
The current level of Iskandar's committed investment is well above the critical mass
needed for its success. In addition to popular areas such as Danga Bay, Princess Cove, and
Medini, Iskandar Puteri interior offers affordable housing projects with good investment
opportunities. This is a sign of a balanced housing market and positive outcome for the
housing sector in Iskandar Malaysia.

1.4.1 Property Sales Estimated in 2019

The proposed development project was located in Flagship B (Nusajaya/Iskandar


Puteri). Iskandar Puteri is a city in Johor Bahru District, Johor, Malaysia. Situated along the
Straits of Johor at the southern end of the Malay Peninsula, it is also the southernmost city in
Peninsular Malaysia. Key catalyst projects in Nusajaya are Johor State New Administrative
Centre (JSNAC), Southern Industrial and Logistics Clusters (SiLC), Medical Park, EduCity,
Puteri Harbour, Node 1, International Destination Resort (Theme Park) and Nusajaya
Residences.
Table x: List of Key landmarks on Flagship B
List of Key Landmarks on Flagship B
1 Johor State New Administrative Centre
2 Puteri Harbour
3 Educity
4 Medical Park
5 International Destination Resort
6 Southern Industrial and Logistic Cluster
7 Nusajaya Residence
8 Node 1
9 Medini Region
Figure x: Map of Flagship B

Expected
No Name of Project Name of Developer Types of Project Location
completed
1 Imperia Condominium UEM Sunrise Sdn Bhd Condominium Completed Nusajaya
2 Teega Residence UEM Sunrise Sdn Bhd Condominium Completed Nusajaya
3 Residensi Ledang UEM Sunrise Sdn Bhd Condominium Completed Nusajaya
4 Bayu Angkasa UEM Sunrise Sdn Bhd Apartment Completed Nusajaya
5 Bayu Nusantara UEM Sunrise Sdn Bhd Apartment Completed Nusajaya
6 One Sentral Serviced Country View Resources Serviced Apartment Completed Nusajaya
residence Sdn Bhd
7 Idaman Residence UEM Sunrise Sdn Bhd Serviced Apartment Completed Nusajaya
8 Denai Nusantara UEM Sunrise Sdn Bhd Apartment Completed Nusajaya
9 Austin Regency Scudai Development Sdn Serviced Apartment Completed Johor Bahru
Bhd
10 Wave @ Marina Cove Adawan Development Sdn Serviced Apartment Completed Johor Bahru
Bhd
Figure x: List of Highrise-resident Johor Bahru District
1.5 Population and Target Group

1.5.1 The Total Population composition in Malaysia

Figure x: Population in Malaysia 2010-2018

In 2018, total population of Malaysia is estimated at 32.40 million persons, an increase of


400 thousand people as compared to 32 million persons in 2017 with 1.1 per cent population
growth rate for the same period. This data is provided by Department of Statistic Malaysia.

Figure x: Sex ratio in 2018

The male population in 2018 outnumber the females with 16.7 million (male) and 15.7
million (female). The sex ratio in 2018 remains at 107 males per 100 females.
Figure x : Population by Age Group

Percentage of population aged below 14 years old (young age) in 2018 decreases from
24.1 per cent in 2017 to 23.8 per cent. On the other hand, population aged 15–64 years old
(working age) increases from 69.6 per cent in 2017 to 69.7 per cent in 2018. The percentage of
65 years and over (old age) population increases from 6.3 per cent to 6.5 per cent for the same
period. The increase in the composition of working age population as well as old age population
contribute to the increase in the median age in 2018, which stands at 28.6 years. Population of
citizens in 2018 is 29.1 million.

Figure x : Population of citizen by ethnic group

The composition of Bumiputera ethnic records an increase of 0.3 percentage points in


2018 as compared to 2017, which accounted for 69.1 per cent of total citizens. However, the
composition of Chinese and Indians ethnics drop by 0.2 and 0.1 percentage points, respectively.
Figure x: Population Distribution by State

The highest population in 2018 in Malaysia is Selangor with 6.5 million then followed
by Sabah (3.9million) and Johor (3.70 million). This shows that Johor have a large number of
population and development of residential area is necessary.

1.5.2 The Population in Johor

Figure x: Population Distribution in Johor District

According to the Study of the Johor Structure Plan, Johor Bahru district were estimated
to have the largest population in Johor by 2030. Thus, a sufficient supply of residential unit is
needed to accommodate the increasing of population.
Figure x: Population Distribution in Johor Bahru Distict

The total of population in MBIP region were expected to increase to 1,263,364 people in
2025 which is second largest population after MBJB region. It shows that MBIP has huge
potential of development in Johor Bahru district through Iskandar Malaysia development.

1.5.1 Target Market

The proposed residential project is surrounded by residential, commercial and industrial


area, so the target market is the worker at the industrial area and new family willing to get their
house first hand. The target group will be young adults from either local or foreign. This
development provide residents an new experience of living in Iskandar Puteri area. After
completion of the project, the apartment will be a new image in Iskandar Puteri. Young adults
will attract by our modern designs which will provide them a comfortable living style and
modern facilities with affordable price.
References

Current Population Estimates, Malaysia, 2017-2018,Department of Statistics Malaysia

Draf Rancangan Struktur Negeri Johor 2030

Edge Prop, The waiting game in Johor Bahru, 2016

Flagship B, Important facts and details on Nusajaya, Iskandar Malaysia

Rancangan Tempatan Daerah Johor Bahru dan Kulai, 2025 (Penggantian).

The Star Online, Johor Poised to Become Economic Powerhouse, 2018

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