By Farah Wahida:
Rapid development of apartments and condominiums in Johor Bahru was spurred by the growing land prices as well as the changing trends of buyers, according to Koh Moo Hing, Chairman of Real Estate and Housing Developers’ Association (Rehda) Johor Branch.
“Property buyers, particularly amongst the young generation now choose the gated and guarded concept such as condominiums and apartments as they place more importance on the security factor,” said Koh.
Over the last few years, developers have changed focus to develop apartments and condominiums, given the high demand for this segment.
In line with this high demand, SP Setia Bhd launched the Sky 88, a 55-storey high-end condominium, due for completion within four years. Kumpulan JoLand is also developing a 32-storey residential building called Paragon Residences@Straits View while Dijaya is working on Tropez Residences at Danga Bay, a 38-storey building comprising three condominium blocks.