The Address @ Maxim Pelangi

On every price that has been published, no — and this belongs at the top of the page, not buried. Johor requires a non-citizen buying strata property to pay a minimum of RM1,000,000, plus state consent, with a Sekatan Kepentingan restriction endorsed on the title. The only officially reported price for this project is from RM426,000, and Maxim has not published a top price at all.

Be careful here. At least two agent websites marketing this project state that the foreign purchase threshold is RM500,000 or RM600,000. Those numbers are not the Johor rule. If someone is pitching you a Singapore-commuter rental story on that basis, ask them to put the threshold in writing with a source.

If a unit ever were priced at or above RM1,000,000, the Johor foreign buyer levy applies at 3% of the price or RM30,000, whichever is higher, from 1 July 2025 — with a special minimum of RM50,000 where a serviced residence is priced under RM1 million. The old 2% / RM20,000 rates survive only where the sale and purchase agreement was signed and stamped and the complete application reached the state land office on or before 29 August 2025. Non-citizens also pay a flat 8% stamp duty on residential property from 1 January 2026.

I do not know, and neither does anyone publishing about it. That is the honest answer. Four different storey counts are in circulation on agent websites: 48 / 48 / 58 for the three blocks, “up to 69 storeys”, “a 59-storey statement”, and a fourth variant putting two blocks at 59 and one at 69.

StarProperty — the only editorial source on this project — gives no storey count at all. Maxim has published nothing. So there is no number here I can stand behind.

For what it is worth, the 48/48/58 version is the only one with internally consistent arithmetic: three blocks at roughly 18 units per floor over 48 to 58 floors lands near 2,743 units. That is reasoning, not evidence. The advertising permit will settle it in one line — ask to see it.

Maxim Pelangi Sdn Bhd, a company formed on 19 February 2024 specifically for this land. Bursa-listed Maxim Global Berhad (stock code 4022, formerly Tadmax Resources Berhad) holds 51%; Alliance Gloss Sdn Bhd holds the remaining 49%. The ultimate owners behind the 49% are not identified in any public source I could find.

You will also see HS Group associated with this project online. HS Group is a property agency, not a contractor and not a joint-venture partner — its page on this development is a listing with an agent's contact details, sitting alongside listings for other developers' Johor Bahru projects. The main contractor has not been publicly announced.

Structurally there is nothing unusual about a 51/49 project SPV; it is standard practice. What is worth doing is checking who stands behind the 49% and what recourse you have if the project stalls — ask for the developer licence, which names the licensed entity, and read the sale and purchase agreement's Schedule and completion clauses carefully.

2,743 units in three blocks on 6.51 acres (26,329 square metres), with a gross development value of RM1.7 billion. The land figure comes from the Bursa filing; the unit count and GDV from StarProperty.

That works out to roughly 421 units per acre — very high density even for Johor Bahru city fringe. In practice that means a lot of identical stock hitting the rental and resale market in the same window. The three published configurations are one-bedroom, two-bedroom and two-plus-one, so most of those 2,743 units will be close substitutes for each other.

Agent sites also quote 56 retail units. That number does not appear in any editorial or filed source I could reach, so I have not put it in the fact table.

Different products, and the difference is mostly about documentation. The Address is bigger — 2,743 units on 6.51 acres against 1,733 units on 5.99 acres — and cheaper at the entry point, from RM426,000 against a permit floor of RM437,000. M Grand Minori publishes its developer licence, both advertising permit numbers, its legally lodged price bands, a 41-item facilities list with floor levels and six floor plans with built-up areas. The Address publishes none of that.

So the choice is fairly clean. If you want the keenest entry price in Taman Pelangi and you are comfortable buying on a sales chart, The Address is the cheaper ticket. If you want to read the statutory disclosure before you sign, M Grand Minori is the one where you actually can.

Both target 2030 completion. Both are commercial-style serviced apartment product. And neither one, at the prices published so far, is available to a foreign passport.

StarProperty reported in December 2025 that completion is targeted for July 2030. That is the only date from a named editorial source.

You will see Q4 2029 on agent listings and “2029–2030” on others. Those are earlier than the reported target and I would not plan around them. In Malaysia the binding date is the one on the advertising permit and in the sale and purchase agreement, and neither is public for this project.

There is also no verified construction milestone in the public record — no piling completion, no superstructure start, no dated site-progress series from the developer. Ask what stage the site is actually at, and ask for a photograph with a date on it.

StarProperty lists a sky lounge, an infinity sky pool, a gymnasium, sauna, outdoor fitness area, jogging path, pickleball courts, a work and study lounge, communal kitchen, multipurpose hall and children's playground. The project is reported to carry GreenRE Bronze certification.

Agent websites circulate a numbered list of 44 amenities taken from an internal sales deck. The list itself is plausible, but the same sites disagree on whether the facilities podium is on Level 6 or Level 11 — one site contradicts itself within a single page. I am not printing the long list as fact until Maxim publishes a facilities plan.

What matters more than the list, for a 2,743-unit building: how many lifts serve each block, what the car park allocation is per unit type, and what the monthly maintenance charge will be. None of those three is published. They are the first questions I would ask at the gallery.

For living in, yes — it is one of Johor Bahru's genuinely mature neighbourhoods, and it earns that word. Nine malls within two kilometres, seven schools within about one, Columbia Asia at 1.8 km, and Jalan Serampang running as a working food street that pulls weekend traffic from Singapore. None of that needs to be built; it already trades.

For investing, be careful about supply rather than demand. NAPIC's Q1 2026 figures put Johor's unsold completed serviced apartments at 9,972 units — the highest of any state in Malaysia. Between this project and M Grand Minori, Taman Pelangi alone is adding 4,476 units of near-identical product with handover clustered in 2030.

There is a third factor. Pelangi Leisure Mall — six acres of freehold land on Jalan Serampang owned by PNB — has been reported as a redevelopment candidate for high-density mixed use including serviced apartments. If that proceeds, the competing supply lands within walking distance of this one.

The only officially reported price is from RM426,000, published by StarProperty in December 2025. There is no official price ceiling, no official price list and no published maintenance fee. Agent sites quote maintenance at RM0.36, RM0.38 and RM0.40 per square foot — three different numbers, one of them appearing twice on the same website in contradiction with itself.

I am not going to repeat those figures as if they were facts. On a 2,743-unit development the maintenance charge is a real long-term cost and it deserves a document, not a rumour.

What I do is go to the developer directly for the current price chart, the maintenance rate as tabled, the car park allocation and what is genuinely still available in each block. Message me and I will send you what is accurate on the day you ask, along with the permit numbers so you can verify it yourself.