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Eye on Iskandar's Lakeview precinct

SCENIC: Surrounded by the Pendas River and mangrove forests, the Lakeview precinct features a 129-year leasehold mixed development called Citrine (pictured).


    Jun 30, 2014

    Eye on Iskandar's Lakeview precinct

    IN THE aftermath of last year's property curbs here, more Singaporeans are parking their investment dollars in real estate overseas.

    And for many, Malaysia remains a choice pick.

    Slightly more than half of real estate investments abroad went into Malaysia last year, going by central bank estimates last month.

    It was the most sought-after overseas real estate market for Singapore investors, ahead of Britain and Australia.

    Many new developments across the Causeway continue to be a draw for investors here, especially the up-and-coming Iskandar development in Johor.

    One project slated to be launched there in the coming weeks is the Lakeview precinct, in the township of Sunway Iskandar.

    Developed by Sunway Property, it is the first of six precincts to be built over the next 15 years.

    The Lakeview precinct, surrounded by the scenic Pendas River and mangrove forests, features a 129-year leasehold mixed development called Citrine. It comprises 328 serviced apartments, 167 office suites and 51 retail units spanning over 140,000 sq ft around a natural lake.

    Prices for serviced apartments start from RM800 (S$310) to RM900 per sq ft (psf); and from RM700 to RM800 psf for offices.

    The Lakeview precinct, which includes the Sunway International School, was designed with the concept of "living by the lake" in mind, said Sarena Cheah, Sunway Berhad's joint managing director of the property development division for Malaysia and Singapore.

    She added that, to ensure the safety and security of people living there, the precinct and the township will be patrolled by auxiliary police officers.

    "We are not here to sell a property - we are here to build a community," said Ms Cheah.

    "We want to deliver a well-planned community which can be self-sustained over time, and we want to make it liveable."