Malaysia’s three decade adventure of transforming itself from a simple agricultural nation into a manufacturing and heavy industries superpower is one good example of a successful backwater nation-economic powerhouse metamorphosis. The country’s diverse economic makeup together with its uncanny ability to draw foreign investments fueled by Japanese investors are attributes that promises a strong growth rate for decades to come. And in the center of all these is Johor, strategically located south of Malaysia. Also known as the “Abode of Dignity”, Johor became the recipient of the Iskandar Development Region (IDR), poised to become the country’s most developed and sustainable region by international standards. The IDR sits directly in the center of Asia’s burgeoning economic growth centers such as Hong Kong, Shanghai, Tokyo and that of India and its neighbors.
Because of this, land development and influx of labor had already commenced operations in Johor, including those minor value-added industries and the offering of neighboring Indonesia’s enormous labor resources to fulfill that vision of growth in the region. The government is giving its full support in the implementation of the plans, management coordination, financing and regional promotion to guarantee IDR’s success.
The work generated by the Iskandar Development Region which was launched late in 2005 propelled the increase in economic activities that translated to the rising demands for the housing sector, especially in the Tebrau and Skudai regions. The Johor Property market woke up after suffering setbacks from the recession and is now nurturing confidence stimulated by improved conditions and the economy bouncing back. All of these became possible due to the introduction of infrastructure by the IDR. Literarily, all businesses and property acquisitions activities are now pointed at Johor. It is prepared to profit from the continuing infrastructure projects which will be sustained in the future.
Now, Johor had become a common household name because of the ever-increasing number of valuable property projects, with some of them already in the implementation stages. In the private sector, huge projects like the $5.15 billion South Key on the former Majidi camp site and the Lido Boulevard Development, together with the state government’s long-term development projects by its investment agencies, are now molding the new image and value of the Johor Property.
With the way the trend is going, properties in Johor are very promising. The potential for growth and development is too great to devalue. Thanks to the intervention of the IDR, these properties will become like goldmines in the very near future.