Shama Medini serviced apartments in Iskandar joins Malaysia’s growing luxury real estate
Across from Legoland rests a sparkling new estate. We take a look at the up and coming area —the Medini Lakeside
Iskandar Malaysia, home to 2,217 square kilometres of economic opportunities, is leaving most of Malaysia in its wake as a development hotspot. An increasing number of projects are ushering in people from across the region to the southern tip of peninsular Malaysia.
Part of the UMLand Medini Lakeside masterplan, which sits across from Legoland, Shama Medini features 213 serviced apartments. Within the upscale development, residents and guests will have access to retail in UMC Mall, as well as multiple restaurants, a gym, swimming pool, kids’ play areas, outdoor pavilion and a surau within the development itself. Covering more than two hectares, the development overlooks a beautiful five-hectare lake.
There’s an enormity of things going on in this region of Malaysia. Besides the aforementioned Legoland with its seven themed areas of family fun, there’s also a number of universities based there. EduCity, a fully integrated education hub, plays host to a number of international universities including the University of Southampton, Raffles University and Newcastle University. Students can live on campus and receive an international education from a top university, all while not being too far from home.
Pinewood Studios can also be found in Iskandar. Many people will be familiar with the British studio due to its part in producing the Harry Potter film series in the U.K. The 50-acre site has turned Johor Bahru into a regional hub for producing television shows and films. Netflix’s Marco Polo series was shot here. Just down the street, Kota Iskandar, the administrative capital of the region, sits in a vast complex near the luxurious Puteri Harbour with its waterfront shops and restaurants only moments away.
Other than the incredible Shama Medini development and the attractions in the region, there are further incentives to move to and invest in Medini. When it’s time to sell your property, there’s no real property gain tax up to 2020. As a foreigner, you can purchase property here, and if you plan to open a business, there’s a 10-year corporate tax exemption for approved companies. These tax incentives stretch even further with reduced income tax for qualified knowledge workers.
UMCity is just a hop, skip and a jump (10-minute drive) from the Malaysia-Singapore Second Link, and only 15 minutes from Johor Bahru. The proposed high speed rail link with nearby Gerbang Nusajaya station will offer even faster connections to Singapore and the rest of Malaysia.
South Korean company Samsung C&T, famous for building the Petronas Twin Towers and the Burj Khalifa have been contracted to build the tower. The construction is set to be completed in the third quarter of 2018. Shama Medini will feature a range of different sized units. From studios at 583 sq. ft. all the way up to three beds, with the largest topping out at 1,192 sq. ft., the development offers great options for singles, couples and large families alike.
All units will be operated by Onyx Hospitality Group. Owners will also have access to the Shama Privilege Card, bringing perks above and beyond your typical investment including 14-days of free stay at Shama Medini. Forecasted annual returns are expected to be high in this sought-after development.
For those of you looking to move to the region or are purely looking to invest in property within Malaysia, Shama Medini should definitely be on your radar. It offers a great location, lots of potential for future development, and is a renowned quality product from UMLand and Shama.
TOP 5 REASONS TO INVEST IN MEDINI
1. Growth Location
2. No Real Property Gains Tax
3. No Sales Restriction on Foreign Ownership
4. 10-Year Corporate Tax Exemption for Approved Companies
5. Reduced Income Tax for Qualified Knowledge Workers
For more information, visit www.shamamedini.com.my
This article was first published in Palace 18.