From a forgotten Medini-Tuas rail plan to the Ibrahim International Business District (IIBD), here's how the centre of gravity has shifted and what it means for property buyers.

By Khalil Adis

Having covered the property market on both sides of the Causeway for the past 18 years, I have seen how well-intentioned government projects can come and go.

The Kuala Lumpur-Singapore High-Speed Rail (HSR), the most obvious example, was announced with great fanfare, then quietly shelved.

But here's one that most people do not know about.

Before the current Johor Bahru–Singapore RTS Link took shape, there was an earlier plan - one that never made the headlines.

Based on my interviews with Malaysian officials and local sources around 2008, the original RTS Link was designed to connect Medini, near Legoland Malaysia, to Tuas Link MRT station - not Woodlands.

At the time, Iskandar Malaysia was in full swing.

Nusajaya (now Iskandar Puteri) and Medini were the centrepieces of the entire development vision, each with dedicated master developers - UEM Sunrise for Iskandar Puteri and Iskandar Investment Berhad (IIB) for Medini - and detailed master plans built around catalytic industries to drive economic activity and property demand.

The Medini-Tuas RTS Link was part of that vision.

Then it was quietly dropped.

Even the revised RTS Link we know today had a troubled journey.

Originally targeted for operations in 2018, it suffered delays and suspensions before being revived in 2020.

With operations now targeted for January 2027, the gateway cities have shifted entirely: from Medini, Gerbang Nusajaya and Tuas, to Johor Bahru Sentral and Woodlands North Coast.

Woodlands North Coast: Singapore's new gateway city

​Once the RTS Link construction began in 2021, demand for resale HDB flats began to surge in Woodlands.

For example, from 2023 onwards, I had noticed that some HDB flats in Woodlands were transacting with a cash-over-valuation (COV) of around $20,000.

I know this based on my ground experience and when speaking to realtors in Woodlands.
​
Prices were moving faster than HDB's valuations could keep up.

This created a real conundrum for buyers and sellers alike.

Cash-sensitive buyers backed out.

Some sellers facing ethnic quota constraints chose to renegotiate asking prices after receiving initial valuations, hoping a subsequent valuation would close the gap.

The Urban Redevelopment Authority (URA) has since laid out a comprehensive master plan for the area under Woodlands North Coast.

This is a mixed-use precinct featuring offices, business parks and residential developments along green boulevards near Woodlands North MRT station.

Adjacent to the RTS Link interchange station, Woodlands Gateway will serve as an employment and manufacturing hub, with flexible workspaces designed for both SMEs and multinationals across five 'Business 2 - White' and one 'Business 1 - White' sites.

An integrated transport hub will allow seamless transfers between the RTS Link, MRT and bus services.

To complete the live-work-play picture, two residential precincts, Housing by the Woods and Woodlands Waterfront, have been planned with convenient access to amenities and employment nodes.

Connecting both precincts is WoodsVista Gallery, a 1.9-kilometre community link with dedicated pedestrian and cycling paths.

JB Sentral: The old city reclaims its crown

Few would have predicted that JB Sentral - not Medini or Iskandar Puteri - would emerge as Malaysia's new gateway city.

For years, the federal government's budget and planning energy was squarely behind those two precincts.

As fate would have it, a combination of politics and royal endorsement changed everything.

The political upheaval following the 2018 general election effectively killed off the HSR project and disrupted federal development priorities.

Into that vacuum stepped the Sultan of Johor, a long-standing advocate of the RTS Link.

Since land is a state matter in Malaysia, his backing was pivotal and the RTS Link survived where other projects did not.

In anticipation of the RTS Link's launch, a major new gateway district has been planned around JB Sentral -  the Ibrahim International Business District (IIBD).

It is worth nothing that it was previously known as the Ibrahim International District.

Developed by Johor Corporation (JCorp), the state investment arm of the Johor government, IIBD spans 240 acres in the heart of Johor Bahru, stretching from the Old Town to land parcels near Jalan Khalid Abdullah.

Envisioned to position Johor Bahru as Malaysia's second city after Kuala Lumpur, IIBD aims to attract tech start-ups, research institutions and businesses across multiple sectors.

It also encompasses existing commercial landmarks including Johor Bahru City Square, Komtar JBCC, Galleria @ Kotaraya, Persada Johor, Puteri Hotel and Menara Landmark.

To see how all of this is taking shape on the ground, I made a site visit on May 11.

The last time I had explored Johor Bahru on foot was in March 2020, just as Covid-19 was beginning to take hold and cross-border travel was still allowed (see article here).

I remember speaking to business owners along Jalan Dhoby and Jalan Tan Hiok Nee who were already reeling from the impact of the virus.

The usually bustling old town was eerily quiet, stripped of tourists.

That image stayed with me.

Almost six years on, the contrast is striking.

Walking from Stulang Laut to Menara Tabung Haji, I have to say the recent city rejuvenation and beautification programme led by the state government is significantly better than what was delivered under the federal government.

It is also worth noting that the Sultan of Johor, Sultan Ibrahim, now serves as Malaysia's 17th Yang di-Pertuan Agong -  a role he assumed on January 31, 2024.

With Johor royalty occupying the highest office in the land, it is reasonable to expect that the political will and influence behind IIBD's success has never been stronger.

I still remember when the Johor Bahru Rejuvenation Programme was announced with much fanfare by the Iskandar Regional Development Authority (IRDA) around 2010, at a cost of some RM1.8 billion (I had covered the press conference at Persada Johor).

It included the much-publicised cleanup of Sungei Segget, modelled after the Cheonggyecheon Restoration Project in South Korea.

When it was completed around 2018, I recall feeling underwhelmed.

To be honest, it fell short of what it was supposed to be - a world-class river precinct.

It only reinforced my view that federal-mooted announcements in Malaysia can sometimes be half-baked promises.

Fast forward to today, the state government appears to have gone back and done it properly.

Take a walk along Jalan Wong Ah Fook and you would notice the addition of sculptures, communal spaces and water features that have transformed the stretch into something genuinely vibrant.

This is the Sungei Segget that was always supposed to exist.

Over at Stulang Laut, the marine viaduct is complete.

The RTS Link now traces a path along Jalan Ibrahim Sultan, turns into Jalan Ismail Sultan, then runs alongside Jalan Tun Abdul Razak next to Johor Bahru City Square before terminating at Bukit Chagar RTS station.

Earlier this year, a source from JCorp told me during a talk I was giving in February that Bukit Chagar is being planned as a transit-oriented development, with connectivity to nearby property developments in the works.

On the ground, that appears to be playing out.

For example, a dedicated covered overhead pedestrian link is already visible just beneath the RTS Link.

Construction at Coronation Square along Jalan Gereja is also underway, with Singaporean real estate firms CapitaLand and Ascott involved in what appears to be a mixed-use development.

One of the more telling shifts I observed was in retail.

The centre of gravity has quietly moved from Johor Bahru City Square to Komtar JBCC.

The latter, a perennial favourite among Singaporeans, had multiple shuttered outlets on the second and third floors, with upgrading works underway at ground level.

Even McDonald's has relocated to Komtar JBCC.

If Johor Bahru City Square feels like a mall catching its breath, Komtar JBCC feels alive and vibrant.

Sitting right next to Bukit Chagar station, it is well-positioned to become the dominant retail anchor in the district once the pedestrian link is completed.

Over in the heritage area, some shophouses are being torn down as part of the IIBD master plan.

My local sources tell me the state government is keen to redevelop JB's historic district into a vibrant precinct but the challenge lies in identifying landowners and getting them on board.

Many of these shophouses currently house migrant workers, adding another layer of complexity to the process.

For all its momentum, JB Sentral still has a fundamental urban planning challenge.

It feels, at times, like a haphazard urban sprawl with new infrastructure being layered on top of an existing city rather than a coherent, integrated vision.

What would be ideal is a single integrated development housing the current CIQ, Bukit Chagar RTS station and the KTM station as well as bus interchange, allowing seamless transfers between lines.

Alas, unlike Singapore, compulsory land acquisition is difficult to execute in Johor due to complex land ownership issues.

That constraint is real and unlikely to be resolved quickly.

What is certain is this: once the RTS Link opens, JB's tourism, retail, commercial, residential and banking and finance sectors are set to see a significant uplift from cross-border traffic.

The only question is how much of that upside you want to be positioned for and how early.

In closing

Gateway cities do not emerge by accident.

They are shaped by infrastructure, political will and - as this story shows - sometimes a change in both.

Woodlands North is as close to a sure bet as Singapore's property market offers right now.

The master plan is detailed, the transport connectivity is real and the investment case is clear.

On the Malaysian side, the calculus is more nuanced.

JB Sentral and the IIBD carry genuine momentum, but history reminds us that government-backed projects in Malaysia can shift with the political winds.

That's not a reason to avoid the market.

It is simply a context that every property buyer and investor should carry with them when making decisions based on connectivity and long-term growth.

​The Draft Master Plan 2019 which was announced last week and  is fast taking shape to take Singapore ahead into a vibrant yet liveable city. 

By Khalil Adis

​A decentralisation strategy to bring jobs closer to homes in the next 10 to 15 years, here are the five growth areas to watch out for:
​

Key highlights:

• A regional business hub, with office and retail developments conveniently close to new homes
• Opening of Thomson-East Coast Lines in 2019
• Woods Square: Integrated office development with retail, F&B and a childcare centre, and direct connectivity to Woodlands MRT station
• Woodlands Avenue 2: Future mixed-use development with residential, office and retail components seamlessly connected to upcoming Woodlands Thomson-East Coast Line MRT station

​
Woodlands Regional Centre: Woodlands North Coast

Key highlights:

• A gateway district linking Woodlands to Johor Bahru
• Woodlands North to be an interchange station to RTS Link to Bukit Chagar
• Flexible industrial spaces for knowledge-intensive and service-oriented activities alongside manufacturing operations.

Punggol Digital District

Key highlights:

• A new smart city by 2023
• Housing technology firms involved in key growth fields as well as the new Singapore Institute of Technology Campus
• Punggol Digital District will create around 28,000 jobs
• New Punggol Coast MRT Station 
• Enhanced connectivity via the Cross Island Line (CRL) which will link it to Jurong Lake District and Changi by around 2030

Paya Lebar Central

Key highlights:

• A bustling commercial centre, with a mix of office, retail, hotel and attractive public spaces
• 500,000 sqm of commercial floor space
• Commercial hub to cater to businesses that do not need to be located within the CBD

Jurong Lake District

Key highlights:

• Jurong Lake District is the hub for commerce, retail, healthcare and tourism industries
• Jurong East will be an interchange station to the North South MRT Line, East West MRT Line and the proposed Jurong Region MRT Line
• Future Jurong Regional Line and High Speed Rail Terminus

Greater Southern Waterfront 

Key highlights:

• Spans across the southern coastline from Pasir Panjang to Marina East
• Relocation of Tanjong Pagar Terminals and Pasir Panjang Terminals to Tuas
• 1,000 ha of land will be freed up for development
• Total area of the Greater Southern Waterfront will be about 2,000 ha linking Keppel  Club and Sentosa
• New developments at Pasir Panjang Power District and the Keppel Club site in the next 5 to 10 years

The game-changing project has been hit with a series of delays since the newly minted Pakatan Harapan government took power last May. With the property market in Iskandar Malaysia already in doldrums, we analyse the possible impact this may have on real estate on both sides of the causeway.

By Khalil Adis

When Pakatan Harapan took power in a landslide victory at the Malaysian general election last May, the ruling coalition government went to work by immediately addressing one of its election manifestos - reviewing major infrastructure projects which involve a foreign country.

Singapore was no exception.

Iskandar Malaysia, which was already feeling the heat from the sluggish property market, saw the High Speed Rail project at first being cancelled and then postponed.

Meanwhile, the controversial Forest City project bordering Singapore was initially announced as off-limits to foreigners but was subsequently changed to build affordable homes for locals.

The former is an important impetus that many developers had banked on to move their inventory amid a severe housing glut the state is facing.

According to recent data provided by the Valuation and Property Services Department (JPPH), Johor recorded the highest number of residential overhang at 13,767 units followed by Selangor and Kuala Lumpur at 7,233 and 5,114 units respectively.

The mismatch in the supply for homes versus what Johoreans can actually afford plus their inability to get financing have further exacerbated the property market situation in Iskandar Malaysia.

The only saving grace is the cross-border rail link service linking Woodlands and Johor Bahru.

Although not cancelled, the Johor Bahru-Singapore Rapid Transit System (RTS) link project is "not progressing well” as Transport Minister Khaw Boon Wan puts it.

Just last week, Acting Transport Minister Dr Vivian Balakrishnan gave an update in Parliament that “further delays” are likely as Malaysia had missed the deadline in confirming its partner three times - first until September 2018, then until December. 

However, on December 28, Malaysia had asked to be given until February 28 this year to do so.

It had missed this deadline as well.

As a result, this will delay the opening of the link which was initially scheduled to be ready by December 31, 2024.

Some developers, particularly in the JB Sentral area, had banked on the RTS Link, to move their unsold units.

With the project now in limbo, here are the possible impacts on the property market both in Singapore and Johor:

#1: Possible higher development cost around Woodlands North station

In May 2012, it was announced that AECOM Technology has been awarded a US$42m contract for the design and engineering study of the RTS Link by Malaysia’s Land Public Transport Commission and Singapore’s Land Transport Authority (LTA).

Under the deal, the company will provide an architectural and engineering consultancy study for the proposed RTS Link.

Construction is well underway for the Thomson-East Coast MRT Line (TEL) with a plot of land allocated for the link at Woodlands North station.

The station is slated to be opened in December this year.

The Urban Redevelopment Authority’s (URA) master plan for Woodlands North Coast shows a mixed-use precinct for office and business parks along signature green boulevards within the station’s immediate vicinity.

The delay could mean higher development cost for the terminus due to opportunity costs and inflation.

#2: Higher fares

The higher development cost arising from the construction delay could also mean higher fares for the RTS Link which may be passed on to consumers. 

However, whether or not this happens, commuters will likely switch to taking the RTS Link across the causeway as it will mean greater convenience as opposed to driving in or taking the bus.

For example, commuters need to clear customs and immigration only once when they depart from either Singapore or Malaysia. 

Using one’s own vehicle or taking the bus will require a two times clearance with the possibility of being stuck in traffic.

#3: Potential capital appreciation for existing housing developments near Bukit Chagar RTS station affected

The Bukit Chagar RTS station will be located at the open car park next to the Sultan Iskandar Building complex.

Surrounding the station are landed terrace homes and condominium towers TriTower Residence and Bukit Chagar Apartments.

According to data from Brickz, from May 2017 to Jan 2018, the average per sq ft pricing for the landed homes in the area was RM354 per sq ft.

Meanwhile, the average per sq ft transacted pricing for Bukit Chagar Apartments from Mar 2017 to Dec 2017 was RM395 per sq ft.

There is no data for TriTower Residence built by SKS Group, formerly known as Maha Builders Group or MB Group.

With the delay, the potential capital appreciation arising from the spillover impact from the RTS Link will take a longer period beyond 2024.

Despite this, market talk is SKS Group has plans to build a covered link to the Bukit Chagar RTS station.

If this is true, investors of TriTower Residence will stand to benefit the most.

#4: Developments around JB Sentral affected

The delay will also impact surrounding developments in JB Sentral as it will mean longer gestation period for the commercial, property and tourism sectors.

The game-changing project could provide a much-needed boost to complement Johor Bahru’s ambitious RM1.8 billion rejuvenation programme that was unveiled by former Malaysian Prime Minister Najib Razak in 2010.

This is because it will bring an inflow of investments from Singapore that will benefit the sectors mentioned.

Although the Sungai Segget rehabilitation is now completed, the project proved to be quite a letdown.

The project was spearheaded by the Iskandar Regional Development Authority (IRDA) with a reportedly whopping RM20 million consultation fee. 

The entire cost is an estimated RM57 million.

The project was supposed to provide a booster to the nearby malls such as Johor Bahru City Square and KOMTAR JBCC as well as shophouses.

It was also supposed to be a tourist attraction much like Clarke Quay as it was modelled after South Korea’s Cheonggyecheon river restoration project in South Korea.

This explains why developers like UMLand had acquired land banks near to Jalan Wong Ah Fook for the opening of Suasana Iskandar Malaysia.

Given the high cost, naturally, the expectation among stakeholders was high.

However, some developers, shop owners and retailers were reportedly not very happy about the way the river cleaning project had turned out.

While the river no longer emits an odour, littering is still common.

The only saving grace for the river is a miserable small fish pond with a fountain in the middle of it.

Surely the river rejuvenation project can do much better.

#5: Ibrahim International District as the potential jewel of Johor

Delays and disappointments aside, there is a gateway district coming up in Johor Bahru that will mirror the one at Woodlands North station.

Called Ibrahim International District, the project is named after the Sultan of Johor.

Under his auspices and blessings, His Majesty has set the target of making Johor Baru the second biggest city in Malaysia after Kuala Lumpur.

As such, we can be sure the project will receive the state’s 110 per cent commitment to make it shine as the jewel of Johor.

With a gross development value of RM3 billion, Ibrahim International District is an ambitious mixed-use development that will comprise six towers -– a hotel, a hotel with residences, an office, medical suites high-rise and two serviced apartment towers and a mall with an estimated gross floor area of 80,000 sq ft.

The district is currently under construction.

There are plans to build a linkway from Persada Johor to Coronation Square at Ibrahim International District.

However, there is no word yet if the district will be connected to the future Bukit Chagar RTS station.

If it does, it will enhance property values in the area, albeit beyond 2024.

#6: One Bukit Senyum as the current property booster

​Nevertheless, there is light at the end of the tunnel as the only property booster around JB Sentral is the One Bukit Senyum project by Singapore Exchange-listed Astaka Holdings Limited.

Home to the tallest residential towers in Southeast Asia, Astaka, One Bukit Senyum will be Johor Bahru’s new central business district when fully completed in 2021.
 
One Bukit Senyum will be developed in two phases. 

The first comprises The Astaka, with a total of 438 units. 

The development, which is Johor’s most luxurious condominium development by far, was completed late last year.

Phase two will comprise Johor Bahru City Council’s new headquarters, a 450-room five-star hotel, 1012 residences, 254-key serviced apartments, a 1.5 million square feet shopping mall and a Grade A office building.

Conclusion

The JB-Woodlands RTS Link is a complicated matter as it involves the state and federal governments.

Nevertheless, it will be a win-win situation for both Singapore and Malaysia to continue with the project as it will mean and inflow of investments, particularly for Johor.

It will also ease the daily commute among Johoreans who are working in Singapore.
​
The spirit of good neighbourliness should prevail.

​A vibrant district is about to take shape over at Woodlands Regional Centre in the next 15 years with enhanced connectivity to Johor Bahru via the Rapid Transit System (RTS) Link. We give you the quick low-down on this gateway district to Singapore.

By Khalil Adis

​Living in Woodlands is about to get even more exciting as Woodlands Regional Centre will be developed into a sizeable commercial hub and bring jobs closer to homes in the northern region of Singapore. 

Comprising 100 hectares of land, the Urban Redevelopment Authority (URA) envisages Woodlands Regional Centre to become home to new spaces for industry, research and development, learning and innovation over the next 15 years.

Just last month, the URA released a white site for sale under the reserve list of the second half of 2018 Government Land Sales (GLS) Programme.

A white site means it can be used for different functions such as commercial, residential and industrial.

The sale of the site is especially momentous as it will provide a seamless connection for commuters travelling to Johor Bahru via the RTS Link by 2024 at Woodlands North MRT station before disembarking at Bukit Chagar station.

Here are a few quick facts on the site:

#1: Located next to popular shopping mall, Causeway Point

​The site is located within Woodlands Regional Centre which comprises two complementary precincts - Woodlands Central and Woodlands North Coast.

The white site itself is located at Woodlands Central which the URA said will be transformed into a bustling commercial and community node with a mix of office, retail, residential and attractive public spaces for live, work and play. 

#2: A vibrant mixed-use site with a GFA of 115,000 m2

The mixed-use site measures 2.75ha and can potentially generate some 115,000 m2 of gross floor area (GFA) for office, residential, retail and entertainment uses.

At least 45,000 m2 of the maximum permissible GFA of the development will be set aside for office use. 

Meanwhile, the URA said the remaining GFA can be for additional office, retail, entertainment and residential uses.

#3: 27,000 households in northern Singapore set to benefit

According to the URA, the new public spaces planned for the precinct can be enjoyed by more than 27,000 households in the vicinity. 

Woodlands Central will also serve as a community gathering point for the residents in Woodlands and the rest of the north region.

#4: Strategically located above the upcoming Woodlands Thomson East Coast Line (TEL) station, (TE2) 

​The site is planned to be seamlessly connected to the existing Woodlands MRT station.

As such, the site will enjoy a direct connection to both the Thomson East Coast Line (TEL) and the North South Line (NSL) via the Woodlands TEL station, (TE2).

From the TE2 station, commuters can hop onto the RTS Link at Woodlands North MRT station located one stop away to Bukit Chagar station in Johor Bahru.

#5: Direct basement connection to TE2 station

The new development will have a direct basement connection to the future Woodlands TEL station, providing shoppers and commuters with easy access to the rest of the stations under the TEL.

This includes the Central Business District, Marina Bay and the shopping, dining and entertainment options at Orchard Road.

#6: 100,000 new jobs

​When fully developed, Woodlands Regional Centre will have about 700,000m2 of commercial space and offer approximately 100,000 new jobs.

#7: Innovation district at Woodlands North Coast

​Meanwhile, a mixed-use business cluster will be coming up at Woodlands North Coast which will include future industrial and business park spaces.

Woodlands North Coast will be served by the Woodlands North MRT station

The URA has envisioned it to provide flexible workspaces that encourage experimentation and innovation and are geared towards the needs of both small to medium enterprises and multinational companies.

Summary

As we can see from the infographics above, prices of HDB resale flats across the board have fallen except for executive flats.

However, the upcoming TEL and developments at Woodlands Regional Centre will act as a property booster for homes in the area.

The opening of Woodlands TEL station and Woodlands North MRT station will be the first property booster followed by the rest of the developments that are being planned.

Homeowners of 3-,  4- and 5-room HDB flats should hold on tight to their properties in the next 15 years before selling.

Meanwhile, it is a good opportunity for home buyers to start their property hunt in Woodlands and wait for the capital appreciation  as Woodlands Regional Centre becomes more mature.

As for the RTS Link, the Malaysian government has remained committed on completing this project.

In fact, this is one of the major infrastructure project that will be carried on under the newly elected Pakatan Harapan government.

For a detailed master plan of Woodlands Regional Centre, do check out the URA site here