Monday, March 19, 2012

S$206.52m Little Japan township planned in Malaysia

Japanese investors plan to construct Malaysia’s first “Little Japan” township (pictured) in Taman Molek, Johor Baru for high net-worth Japanese keen on making the country their second home.
Global Asia Assets (M) Sdn Bhd (GAAM), an asset-building consulting company for the investors behind the development, hopes to attract 2,000 wealthy Japanese to live, do business or work here in the next few years.

“Johor Baru’s proximity to Singapore, coupled with good infrastructure, fine weather, the government’s commitment to boost safety and security and the virtual absence of natural disasters like earthquakes, makes it an ideal place for Japanese to make it their second home,” said Fujimura Masanori Chief Executive of GAAM.

Around 70 Japanese HAVE already relocated under the Malaysia My Second Home (MM2H) programme. Since January last year, 365 Japanese investors have also acquired commercial and high-end residential properties worth over RM400 million (S$165.22 million). These investors are expected to relocate to Malaysia soon.

“In view of the overwhelming response, we are eager to kick start the ‘Little Japan’ project in Taman Molek where Japanese individuals are expected to invest over RM500 million (S$206.52 million) in landed houses and luxury apartments over the next few years,” he added.

The first of its kind in Malaysia, “Little Japan” will be a self-contained township complete with spas, medical facilities, restaurants and retirement homes.

The Japanese, who have avoided investing outside of Japan, possess huge amounts of liquid assets and GAAM hopes to attract these rich individuals to invest in Johor, he noted.

“With our extensive network of contacts with travel agencies and hotels in Japan, we are confident of not only delivering high yields on investments for our clients, but also encouraging more Japanese tourists to visit Johor.”

View the original article here
Source From Property Guru

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