Info just came in that the KTP deal has been scrapped.
This is my friend's thoughts on the Kim Teng Park issue.
1. There seems to be a lack of interest in the plot of land where Kim Teng Park is built. If the Rapid Transit System terminus is going to be built there as speculated, there would have been a bidding war for the land. So, it is more likely that the developer will build a condominium.
2. The plot of land in Woodlands, which is going to be the RTS terminus in Singapore, will cost from S$900 to S$1,000psf, so the purchase price of RM1,000 psf offered to the Kim Teng Park residents (if it really was going to be the RTS terminus in JB), which works out to be about RM1 bil for the entire estate, is probably an attractive deal for the developer as the plot would likely be re-zoned.
That would mean a much higher plot ratio, and an increase in the gloss floor area to many times more than the RM1 bil purchase price.
My friend does not doubt the deal but believes China's current capital controls may delay it.