Hou Kong Daily, 19 February 2014 – Malaysia will setup exhibition booth at Macau on next month
Hou Kong Daily, 19 February 2014
Malaysian Property exhibition comes to Macau next month
Macau Group’s BuildingsAgency.com and Malaysia’s Tropicana Corporation Berhad will jointly organize a Malaysian real estate trade fair held across three days from March 14 to 16 at Grand Hyatt hotel’s Shalong Hall VI. The organizers see promising properties in the Malaysian investment market, providing more attractive investment channels for investors in Macau.
At 11am yesterday, a press conference was held at Grand Hyatt hotel. Macau Group Directors Ye Cheng Chao, Lu Jian Heng, Liu Yu Peng, and Tropicana Corporation Managing Director of southern region Lee Han Ming, General Manager Tino Wan, and Deputy General Manager Serena Lim attended the conference.
Lu Jian Heng said that in recent years, the high property prices in Macau caused local investors to constantly seek overseas investment opportunities. As a first-time Malaysian properties exhibition in Macau, the event garnered good customer response. He pointed out that Malaysia has a robust national economy, better commercial facilities, hence it attracts more investors to invest in the country. When it comes to overseas properties, local investors in the past have favoured the neighbouring Pearl River Delta region, but the local mainland property market has become unstable and returns are not as good. Many investors have begun looking for foreign properties and currently European and British real estate have enjoyed higher demands from the market. The Malaysian property sector is expected to achieve the same success. Currently, Macao residents prefer to invest in small overseas units, leasing them to earn returns, as residential use is not their primary purpose.
According to the information, Malaysia welcomes foreign investment, Both overseas property investors and local investors pay under the same category of property tax, the country has a diverse and inclusive culture, world-class education and health standards, low cost-of-living, pleasant climate and a true holiday and shopping paradise. In addition, foreign investors can also obtain the residential rights for five to ten years with the purchase of their property. However, the organizers revealed that from May 1 this year, the Malaysian government will raise the minimum purchasing amount for property to RM1 million from RM500, 000, in order to get residential rights.
Tropicana Danga Bay - the project featuring at the Macau’s exhibition, is within Iskandar Malaysia, and is close-by to Singapore, as close as the distance between Shenzhen and Hong Kong central business district. The development project located in Danga Bay area is a rare plot of freehold property set in the city area, just 10 minutes’ drive away from Singapore and 15 minutes' drive from the famous Legoland theme park. In March the project exhibits Building A with 396 units, priced at about RM700, 000 ringgit (about 1.5 million Hong Kong dollars ) .
According to sources, compared to the average price of MOP$10,000 per square feet in Macau, the average price of per square feet in Kuala Lumpur, capital of Malaysia, is only MOP$1,200-$1,400; and in recent years, Malaysia recorded an increase of nearly double in property prices of townships, there is still much room for potential growth in the future, and the Group believes that Malaysia can offer much more to property investors from Macau.