The Years After The Asian Financial Crisis In Johor (Iskandar) were Fearful Years.
I first heard of Ledang Heights in years 2002-2003 from PRO-LINK DEVELOPMENT Sdn Bhd. They said that there is a Gated & Guarded Bungalow Enclave called LEDANG HEIGHTS in Gelang Patah. The Land consists of empty Bungalow land of sizes starting from 10,000 sq ft With Individual Freehold Title.
In The Center Of Ledang Heights Is A Man Made Lake. And surrounding & facing the Lake are 7 Bungalow plots belonging to the Sultan of Johor. All this information piqued my interest, so I paid Ledang Height a visit.
Indeed the place was exactly what the management of PROLINK told me. However, I don’t see much activity there except for one or two buildings. Then one day a Big Bungalow was built on the highest plot of land in Ledang Heights (I heard that it belong to the Assistant Chief Justice from Singapore High Court.)
I went to see Spencer, The person In Charge of Marketing the Ledang Heights Bungalow Lots. He quoted me a price of rm23 psf. To me that was pretty expensive, so I requested for a discount. He introduced me to MAHABUILDERS, who has 3 pieces For Sale at a 30% Discount. I was puzzled, but I went to see MAHABUILDERS for further information.
At MAHABUILDERS I found out that they have 3 pieces of Bungalow Lands in Ledang Heights. In addition, they also have 3 more pieces outside Ledang Heights & also quite a number of Completed Bungalows in Nusa Prentis 1. All for Sale at 30% Below Developer’s List Price. Why? Because MAHABUILDERS was The Main Contractor For Prolink belonging to Halim Saad of RENONG.
The lands & houses were Contra Payments for Construction work done. I asked Prolink Management, “Why don’t you build more bungalows in Ledang Heights for sale?”. They replied,”We are afraid that there is no demand”. Same sentiment was also felt by the management of MAHABUILDERS. They wanted to sell off the land at 30% Discount at rm16 psf although Spencer is selling for rm23 psf.
I went to examine the 3 plots of land further. They were all located near the perimeter fencing, far away from the Guard House. Plus the land is bumi released lots – only Malaysian can buy, not for Foreigners. Moreover, the place is quite deserted – I didn’t see a bird or a squirrel around. The place also look eerily silent. Since Prolink is fearful. MAHABUILDER Is Also Fearful. Fear crept into me & I left that forlorn place.
BEGINNING OF LITTLE FAITH IN LEDANG HEIGHTS
Several years gone by; then one day Meda Inc was appointed as an agent to Market & Build Designer Bungalows in Ledang Heights. Upon further enquiry I found out that Singaporeans were buying a few. Not too many, only a few you see; so Meda Inc closed shop.
FROM FAITH TO BUYING FRENZY
In Year 2012, ALEX NG Of FORTE PACIFIC RISK MANAGEMENT Invited Me To His Private Sale Of Over 15 Bungalow Plots In Ledang Heights. He was selling them for rm70 per sq ft. As he showed me All the Available Plots For Sale He also Indicated the Better Ones Which Should Be Sold For at least Rm73 per sq ft. Since I didn’t buy when it was Rm16 per sq ft – how to buy at Rm70 per sq ft? To my Surprise they were all snapped up.
FRENZY SKY ROCKETING PRICES!!!
Only One Short Year Has Passed And What Crazy Prices People Are Now Asking:- RM130 to Up To RM180 per sq ft! for LEDANG HEIGHTS.
THIS IS REALLY A TIME OF BUYING FRENZY!!!
LATEST UPDATE JULY 1ST 2013:- Met Alex Ng today at MAYBANK, Taman Perling, Johor. He said the Current Price for Ledang Heights Bungalow lands is rm200 per sq ft.
Will Land Prices Still Move Higher & Higher To Touch RM1,000 per sq ft One Day In The Future? No one can forecast accurately at the moment. Nusajaya Is Still An Exciting Work In Progress. Over in Sentosa Cove property Prices Have Crossed RM7,000 per sq ft. And Sentosa Cove is a 99 year leasehold land. Anything Is Possible If Agent 007 should buy some here. After all Ledang Heights is now a Popular Expat Enclave. And James Bond might like it here, too. Who Knows?
IMPORTANT ANNOUNCEMENT (23rd March, 2014)
Richard Branson says, “ Business opportunities are like buses – there’s always another one coming.”
I have missed buying Ledang Heights Bungalow plots at RM15 psf to RM23 psf. Now they have gone over the Roof at over RM200 (Up 1,000%!!)
Right Now I Have Discovered Another Place Just Like Ledang Heights When It was a Bargain at RM15 to RM23 when many were fearful to buy. The Lands Are in Taman Nusa Damai (MP Corp). You can invest in houses there or you can buy the Shares of Nusa Damai by Buying MP Corp (KLSE 6548) Shares.
WHY MP CORP? MP CORP HAS 630 ACRES PRIME FREEHOLD LANDS IN TAMAN NUSA DAMAI. THE BOOK VALUE OF LAND HERE IS RM8.50 psf in Year 2008. Haven’t been revalued yet. The Current Price When Connecting 6 Lanes Access Ready Will Be At Least RM70 psf.
MP CORP SHARE PRICE IS A MERE 39.5 Cts. Shares NTA Is RM5.28. Now Still Not Known by The Investing Crowd.
Buying MP CORP Is Like Buying Ledang Height’s Lands for RM23 psf. You can’t go back in time to buy Ledang Heighs Cheap lands now when prices are over RM200.
But MP CORP IS GROSSLY MISPRICED BY THE Fickle Market. HEREIN LIES OPPORTUNITY!!