Description

Pinetree Marina Resort by Tiong Nam Properties Sdn Bhd is an integrated project with residential and hospitality components, nestled in the upscale Puteri Harbour waterfront development in Iskandar Puteri, Johor Bahru.

Comprising two 25-storey towers, the project offers serviced apartment units and penthouses in its residential block, along with hotel rooms in its hospitality tower. Its serviced apartments feature a selection of 13 layouts in 1-bedroom, 2-bedroom, 2+1 bedroom, 3-bedroom and 3+1 bedroom configurations, with built-ups from 605 sq ft to 1,767 sq ft. Every layout, from A1 to A3, B1 to B8 and C1 to C2 offers 20 representative units each, for a total of 260 serviced apartment units.

Meanwhile, the project’s eight penthouse units offer five four-bedroom layouts with built-ups from 4,032 sq ft to 5,615 sq ft. Price points start from RM1,600 psf, in keeping with Pinetree Marina Resort’s location in the posher end of Johor Bahru.

Both the residential and hotel towers sit on a commercial podium with shopping, entertainment and dining outlets. Designed by celebrated local practice RSP Architects Sdn Bhd, the project as a whole draws on nautical themes, with the curves of the two towers inspired by the sails of a vessel at sea, and the podium calling to mind the ebb and flow of waves.

In terms of recreational facilities, residents and owners can look forward to amenities such as an outdoor café on the second floor of the podium and a swimming pool deck on the third, as well as shops and cafes in Basements 1 and 2, with the entry to the hotel and serviced apartments themselves on Level 1.

Other distinctive features include a curved swimming pool deck on the 18th storey of the project’s hotel tower, which comes with a half-circle sun deck offering spectacular views of the surrounding marina.

Pinetree Marina Resort itself sits on Jalan Persiaran Tanjung in Puteri Harbour, at the junction of Lebuh Laksamana and Persiaran Laksamana, with the latter offering accessibility to Lebuh Kota Iskandar to the northwest.

While connectivity options are limited, it does leverage on proximity to Puteri Harbour’s existing pull factors, including Sanrio Hello Kitty Town, Thomas Town and the Puteri Harbour International Ferry Terminal, which serves as an alternative point of entry for international visitors to Malaysia.

These, along with other landmarks in Iskandar Puteri such as Legoland Malaysia and its Legoland Water Park, as well as the nearby 600-acre Educity educational hub with partners such as Raffles American School, Multimedia University, University of Reading Malaysia and Newcastle University Medicine Malaysia, ensure a healthy supportive ecosystem for the project.

Even so, it’s worth noting that analysts such as CBRE|WTW have projected vacancy rates in excess of 50% for high-rise residences in Johor Bahru in 2019. However, recent independent sentiment surveys have identified the city as the most sought-after location for buyers in Malaysia by far, with Kuala Lumpur, Puchong and Petaling Jaya trailing behind.

This indicates strong, ongoing interest from home seekers and investors in the area, though affordability, pricing and financing issues may mean this demand will not necessarily translate into transaction volume. For Pinetree Marina Resort, this is less of a factor, as it is fully sold.