MALAYSIA PROPERTY EXPO 2012
MALAYSIA PROPERTY EXPO 2012
The Malaysia Property Exposition (Mapex) 2012 is expected to clinch property sales of between RM50 million and RM100 million($15 to $30m USD) underpinned by strong demand, said organising committee chairman Datuk Ng Sieng Liong.
The three-day expo, organised by the Real Estate and Housing Developers’ Association Malaysia (REHDA), will be held at Mid Valley Exhibition Centre beginning March 2.
“REHDA is optimistic that the underlying demand for houses in the country remains strong supported by local and foreign buyers,” he said when releasing the findings of the “REDHA Property Survey Report for the Second Half of 2011″ here today.
The study revealed that 28 per cent, out of 148 companies that took part in the survey, said their property launches attracted buyers from Singapore, South East Asia and China.
Johor recorded the highest number of property purchases by foreigners followed by Pulau Pinang, Selangor and Kuala Lumpur.
“The expo is set to be an ideal platform for industry players to showcase and market their projects.
“Mapex would facilitate buyers with a wide range of choices and ensure they make informed decisions,” he added.
To date, over 50 developers have registered to showcase their property projects at the expo including Sime Darby Property, Lebar Daun Development, I&P Group, Malton, IJM Properties and Seri Pajam Development.
The participating developers will showcase developments spread over Selangor, Kuala Lumpur, Johor, Melaka, Negeri Sembilan, Pahang and Perak.
In the aftermath of the Asian Financial Crisis in the late 1998, the Real Estate and Housing Developers’ Association [REHDA, then known as the Housing Developers' Association (HDA)] highlighted to the then Prime Minister, Tun Dr Mahathir Mohamed of the huge overhang in the property market and urged for immediate measures to be taken to address the critical problem. After several rounds of urgent dialogues and discussions between the Government and REHDA, the government announced special incentives to help alleviate the property overhang. Such incentives included the release of bumiputera units, stamp duty exemptions as well as higher margin of financing by financial institutions. At the same time, REHDA was also exhorted to organize a series of property exhibitions in conjunction with the special incentives. Hence, the Home Ownership Campaign I (HOC I) was conceived.
Following the success of HOC I in reducing property overhang, the Government granted further incentives in 1999 to help bolster the property sector. Again, REHDA was called upon to organise another Home Ownership Campaign (HOC II) in 1999, which was also well received.
Arising from the two HOC, REHDA saw the need to organize such exhibitions on an annual basis to provide a convenient forum for developers to exhibit properties of various types and for homebuyers to view the latest and available launches and property stock all under one roof. Since then, REHDA has organised 6 national level property exhibitions [known as the Malaysian Property Exposition (MAPEX)] in the Klang Valley and more than 50 state level exhibitions throughout the nation.
Over the years, MAPEX has received overwhelming responses from developers, industry players, NGOs and government departments with an average participation of more than 100 developers and 10 financial institutions in each of the exhibitions. The HOC and MAPEX exhibitions are typically held over a period of 3 to 4 days and have become the signature property event each year, recording thousands of transacted properties.
MAPEX has since helped many Malaysian homebuyers to purchase their dream homes at affordable prices. It has helped generate demand for housing and ensure sustained growth of the housing and property industry.
Shayne Heffernan oversees the management of funds for institutions and high net worth individuals.
Shayne Heffernan holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services. www.livetradingnews.com
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