Property sales unaffected by Johor’s tax plan

JOHOR BARU: The state government’s proposal for higher land tax for foreigners owning properties in Johor will not deter them from investing in the state, says Pulau Indah Ventures Sdn Bhd (PIV) general manager Roslina Arbak.

“Since the announcement of the plan, we have not had any negative feedback or withdrawal by foreign applicants for our newly launched Afiniti Residences,” she said after a media briefing on the luxury condominium development in Medini within the Iskandar region.

The project, a 50:50 joint venture between Khazanah Nasional Bhd and Singapore’s Temasek Holdings Pte Ltd, is being developed by PIV.

As at May 31, PIV had received 1,570 expression-of-interest applications for the project, with Malaysians comprising 60% of registrants and the rest mostly from Singapore followed by Indonesia, South Korea and the United Kingdom, she said.

The 2ha development located near Medini Mall, Legoland theme park and Gleneagles Medini Hospital, comprises 147 units of premium strata residences in a 21-storey tower block — priced from RM850 to RM1,000 per sq ft.

It is also a five-minute drive from Educity Iskandar and Marlborough College Malaysia, Puteri Habour and the state government’s new administrative centre of Kota Iskandar. — Bernama

This article first appeared in The Edge Financial Daily, on June 6, 2013.

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