Magnate allays fears of Iskandar building glut

[SINGAPORE] The rosy narrative on Malaysia's hot spot Iskandar development region is wilting on a looming supply glut. No thanks to overzealous building by mainland Chinese developers.

Adding to the flux is that Iskandar's property boom - partly led by buyers across the Causeway who were lured by sprawling homes amid rolling hills, and in some cases, a spectacular sea view at a lower cost - is taking a breather after prices trooped upwards by 25 per cent last year.

But the edginess about oversupply and the downbeat prognosis that asset values …