FOR SALE - 1.8 ACRE STRATEGIC LAND TOGETHER WITH 19 STOREY BUILDING THEREON SALE BY CLOSED TENDER Via Appointed Agent
19 storey building | Freehold | Land Area 1.8 acre | Built-up 487,2++ sqft | Reserve price at rm287 psqft
Property Description
=================
- Used to be a 4 star branded hotel.
- Strategically located at a key intersection within Johor bahru business district.
- Popular among Singaporean & Johorian tourist as a valued 4 star hotel with almost 70% occupancy rate (before covid).
- Suited for a complete repositioning exercise to be new 4 star hotel in Johor Bahru , Malaysia.
- A Superb strategic location to invest. Only 1 kilometer radius to proposed Johor Bahru-Singapore RTS (Rapid Transit System) station .
- 23 kilometers from Sultan Ismail International Airport and 28 km away from the Singapore Changi International Airport is
Welcome to Malaysia. Home of Thriving Opportunities. Why the world choose Malaysia?
Introduction
==========
Being the third largest component of the services sector, the tourism industry contributes 6% to Malaysia’s GDP and 23% of national employment or 3.5 million jobs (Source: DOSM). Tourism activities generate multiplier effects towards the ecosystem of hotel businesses, tourist projects, retail businesses, restaurants and transportation services.
Tourist arrivals grew steadily from 25.7 million in 2015 to 26.1 million in 2019 with tourist receipts increased from RM69.1 billion to RM86.1 billion in the same period. Most of our tourists are from ASEAN (primarily Singapore, Indonesia, and Thailand), China, Korea, India, Taiwan, Australia and the United Kingdom.
International and domestic tourists enjoy the country’s unique culture, food and melting pot of ethnicities while indulging in the natural biodiversity of sandy beaches, coral reef and rainforest. The country’s established network of infrastructure caters for a wide spectrum of travelers, from family to adventure-seeking backpackers. Malaysia continues to garner industry accolades, winning three Pacific Asia Travel Association gold awards in 2019 and awards for medical tourism with the likes of the Malaysia Healthcare Travel Council (MHTC), TMC Fertility and Thomson Hospital Kota Damansara acknowledged for their excellent care and services.
The heart of South-East Asia
======================
======================
Malaysia lies just above the equator, right in the heart of South-East Asia. Strategically located between the Indian Ocean and the South China Sea, Malaysia is well serviced by all primary air and shipping lines. This coupled with the country’s sustainable and solid economic foundation, comprehensive business ready environment, future-forward focus and dynamic skilled workforce have made Malaysia an attractive cost-competitive investment location in the region, and is fast becoming a preferred centre for shared services and leading technology industries.
Fact about Malaysia
================
- Well-connected to major ports in Asia. Reaching Mumbai, India within 6 hours and reaching Beijing, China within 9 hours
- Malaysia have 330,000 km2(127,000 m2) Of 500 industrial estates
- Next to one of the world’s busiest shipping lanes. Straits of Malacca provides access to global supply chains via 2 key ports.
- A Population of 32.7 million (2020e)
- Business English is widely used. The multilingual population is fluent in Malay, English, Mandarin,Hindi and Tamil.
- Tropical-warm and sunny throughout the year. Daily temperatures range from 33°C (90F) in the late evening to 22°C
- Parliamentary democracy constitutional monarch
Malaysia Equity Requirement
=======================
For Hotel 1 & 2 Star : 100% Malaysian
For Hotel 3 Star : At Least 30% Malaysian
For Hotel 4 & 5 Star : 100 % Foreign Equity Allowed
For Theme Parks : 100% Foreign Equity Allowed
For Convention Centre : 100% Foreign Equity Allowed
For Recreational Parks / Other Tourism Projects : At least 49% Malaysian including 30% reserved
Government Support
================
To strengthen the competitiveness & boost investor interest of the tourism industry, the Government provides tax incentives for tourism projects, expansion, modernisation and refurbishment of hotels, convention centres, theme parks and other tourism projects.
1. Pioneer Status (PS):
Companies may benefit from Pioneer Status of 70% of the statutory income for each year of assessment of its business operations.
OR
2. Investment Tax Allowance (ITA) :
Companies may benefit from income tax exemption package of 60% allowance on the qualifying capital expenditure incurred within a period of 5 years where the allowance can be used to offset against 70% of the statutory income for each year of assessment of its business operations.
Investment Tax Allowance (ITA)
----------------------------------------
Companies may benefit from income tax exemption package of 60% allowance on the qualifying capital expenditure incurred within a period of 5 years where the allowance can be used to offset against 70% of the statutory income for each year of assessment of its business operation.
(Source: Malaysian Industrial Development Authority (MIDA)
==============================
RESERVE PRICE: RM140,000,000.00
==============================
Drop me an email if you need more information.
Thanks.
Agent Mus Raden
Real Estate Negotiator
AMG (A Must Group) Real Estate Agency [Reg no E(3)0488]
M: +6011-1923 4991
E: encikhartanah@gmail.com
(Prospective buyer/investors will be required to show their prove of fund 1st before proceed with the tender)
Disclaimer: Whilst every endeavor is made to provide the latest information from our portfolio of property facilities, the price ,rates, space and availability may subject to changes without prior notice. A Must Group does not accept any responsibility for the accuracy or completeness, or any loss which may arise from reliance on information contained in this document or information given. The information provided by A must Group on Mudah.my is for general informational purposes only. All information & property picture on the Site is provided in good faith, however we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of any information on the Site. Purchaser is encouraging to conduct own due diligent on the information provided at their own cost.
