KUALA LUMPUR: Johor will be the state to watch in 2024, said the chairman of Rehda Institute Datuk Jefrrey Ng Tiong Lip.
Ng said that in addition to the current rapid transit system (RTS) link project connecting Johor Bahru's Bukit Chagar and Singapore's Woodlands, there will be positive growth effects from the resuscitation of the HSR, additional ferry crossings, and possibly even a third link bridge.
Additionally, he anticipates that the Johor-Singapore Special Economic Zone (SEZ) will draw both local and foreign investment, thereby promoting the development of the region's infrastructure, including networks for communication, utilities, and transportation.
"This will create positive spillover effects on the overall economic development, including Forest City development by the Country Garden Group," he said in his keynote address at the CEO Series 2023 (Economy and Business Forum) here today.
"However, we also hope that the government can understand the plight of the property industry. The price increase in building materials, logistics, and labour poses a serious challenge to construction and property development and has a spillover effect on the rest of the supply chain," said Ng.
A memorandum of understanding (MoU) was exchanged with Universiti Malaya by the Real Estate and Housing Developers' Association (Rehda) Malaysia and Rehda Institute in order to enhance academic research and training for the real estate sector.
Public policy research, affordable housing, the development of sustainable and smart cities, environmental, social, and governance (ESG) issues, industry benchmarking, and consumer and industry surveys and focus groups are among the areas in which Rehda Institute and UM plan to collaborate.