Buzz over Temasek-Khazanah condo

Buzz over Temasek-Khazanah condo

BUYERS are queueing up to get a foot in the door of the first property launch to emerge from the partnership in Iskandar Malaysia between Temasek Holdings and Khazanah Nasional.

All of the 147 units at Afiniti Residences will be launched for sale at a balloting exercise on Saturday morning at the Traders Hotel at Puteri Harbour in Iskandar.

About 1,570 people have registered their interest online for the 129-year leasehold condominium, which is next to Legoland in Nusajaya, with more signing up since registration closed last week.

Ms Roslina Arbak, general manager of Pulau Indah Ventures (PIV), the 50-50 joint venture firm formed by Temasek and Khazanah, said two-thirds of those who have registered are Malaysians, while 32 per cent are Singaporeans.

The enthusiasm does not seem to have been dampened by a weekend announcement by Johor Menteri Besar Mohamed Khaled Nordin that the state will increase tax rates this year for property-owning foreigners.

Ms Roslina said there has been little impact: "We have not received any calls to ask about it and nobody has withdrawn their registration."

The units range from 484 sq ft to 1,064 sq ft, with completion expected in 2015.

They cost between RM850 (S$340) psf and RM1,000 psf although homes overlooking Legoland will command higher prices. The smallest unit will cost just under RM500,000.

Afiniti Residences is the first property to be launched in the Medini area and the first batch of leasehold homes to be sold in Iskandar. Previous launches have involved freehold property.

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