The growth of the property market in Johor will keep developer SP Setia Bhd in the area for the foreseeable future. Johor is the company’s main revenue earner, contributing about RM1billion (US$331 million) in sales for three consecutive years 2009, 2010 and 2011.
Sp Setia Bhd has a number of developments in southern Johor including Bukit Indah lan, Setia Eco Gardens and Setia Business Park.
The company has also started development on some new projects in the area such as Setia Business Park II, Setia Tropika, Setia Indah and Setia Eco Cascadia according to The Star.
The move to Johor in 1997 is starting to pay dividends but it was not so easy in the beginning claims Tan Sri Liew Kee Sin, president and chief executive officer.
“The company’s early years in Johor Baru were the toughest time because Malaysia in 1997 and 1998 was not spared from the Asian financial crisis,” said Liew.
The company continues to look for land in Iskandar Malaysia and outside Johor Baru, as large tracts of land become available in Johor for township development.
The close proximity of Johor to Singapore opens up the area to Singaporeans and expatriates looking for a second home.
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