Positive sentiment spills over to Iskandar

/ EdgeProp Singapore
February 24, 2018 9:36 AM SGT
Singapore-listed Pacific Star Development to launch its remaining phases at the RM1.75 billion flagship development, Puteri Cove Residences and Quayside in Puteri Harbour

Singaporean IT professional Crystal Lai is looking forward to moving into her new condominium unit at Iskandar Malaysia’s Puteri Cove Residences, the flagship project by Singapore-listed Pacific Star Development.
Lai intends to commute daily to work, estimating that it will take 30 to 40 minutes to drive from her new home in Puteri Harbour to her office in Tuas — the same amount of time it would take her to travel from her current home in Jurong to the CBD or Orchard Road.
Puteri Cove Residences and Quayside at Puteri Harbour (Credit: Pacific Star Development)
In return, she will enjoy a quality of life that she aspires to have in Singapore — “but at one fifth the cost”, she reckons. After all, her three-bedroom apartment is a sizeable 1,200 sq ft, tagged at RM1.7 million to RM1.8 million in 2015. The unit will be handed over to her fully furnished, according to the theme she has chosen, “Elegance”, for which she paid a top-up of less than $100,000. The total package for the fully furnished unit amounts to just under $620,000, based on the current exchange rate of $1 to RM2.96.
Stretching the dollar
For that amount, Lai will enjoy a premium condo unit with freehold tenure and unparalleled views of the swimming pool, the marina and the sea beyond. She is looking forward to entertaining her friends and relatives at her new home — there are eight function rooms in Puteri Cove Residences — as well as enjoying the 30 different facilities ranging from gyms, a 50m lap pool and jacuzzi pool to tennis courts and landscaped garden.
The spectre of vacant apartments — tell-tale signs of an oversupply — continues to haunt Iskandar Malaysia, but Lai believes Puteri Cove Residences will prove to be an exception. Her conviction stems from the fact that there are others like her, including some of her friends, who had also purchased units at Puteri Cove Residences with the intention of moving there. “I think it’s going to be quite vibrant,” she...