Apartments in the middle of the city?

Why not someone with money build apartments (studio, single or double bedroom) in the middle of the city of Johor Bahru? Personally I think it's good, since we have many (too many probably) Johoreans working at Singapore, and they are crossing the causeway every morning (and come back late at night). And they are probably single too that need only small place to live! It's good for the city, since apartments complexes create a steam of people 24hrs/day, makes our city more lively. Make it semi-exclusive, so young executives can own them too.

New York city has it, SF has it, LA has it. Why can't JB? In-front of KOMTAR may be?