Medini zone in Iskandar granted property gains tax exemption

Thought this is an interesting update: "Malaysia has granted a substantial tax break to a zone in a showpiece investment project near Singapore, a move likely to provide crucial support to a US$800 million (RM2.5 billion) initial public offering of the area's developer next year". Time to relook into investment strategy for this area?

More Condo Project Signed for Iskandar

"Medini Iskandar Malaysia Sdn Bhd and Qingdao Zhuoyuan Investment Holding's Square Stone Holdings Sdn Bhd to build high-end condominium with an estimated gross development value (GDV) of RM2.6bil.

The high-rise property proposed to be known as Medini International starts from an average price of RM750 psf targeting buyers from Singapore, China, Malaysia, Japan and Korea". Read more on the Star article.

It definitely feels like the Iskandar bubble is growing bigger, prices are sky rocketing and close to matching KL prices. Let's hope prices do not go too crazy!