Archives for Property Developer Malaysia

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How has the property market in Malaysia changed in recent years?

Malaysia has enjoyed many years of booming property, which is why the current slowdown is promoted by the central bank to ensure growth is more sustainable in the long-term, and with new infrastructure spend by the government, this will open up new areas for property developments and townships. This year’s low oil and commodity prices, goods and services tax (GST) implementation and the depreciation of the ringgit, have also affected disposable income and investment decisions. Nonetheless, we are optimistic in the long run. Our nation’s flagship economic programme, the Economic Transformation Programme (ETP), is on track to propel Malaysia to become a developed nation by 2020, with a GNI per capita of $15,000. Following the launch of the ETP in 2010, Malaysia’s growth in private investments has increased by more than double, and for the first half of 2015, its recorded private investments reached close to MYR 108.5bn ($25.05bn). This total, coupled with a track record of high pipeline investments, signifies continued confidence in Malaysia as an attractive nation for investment.

In 2014, Malaysia recorded a GDP growth rate of six percent, and although 2015 proved to be a challenging year for the global economy, the Malaysian Government is resolute in sustaining its momentum and targeting growth between 4.5 and 5.5 percent. In the announced budget for 2016, an allocation of MYR 267.2bn ($62.7bn) was pledged to secure the sustainability of Malaysia’s growth through areas such as road projects, mass rapid transit and light rail transit lines.

Globally, the International Institute for Management Development in Switzerland ranks Malaysia as the 14th most competitive nation among 61 economies. While the World Bank reports that Malaysia is the 18th easiest place to do business among 189 companies and the World Economic Forum lists it as the 18th most competitive country out of 140 economies. Additionally, our participation in the ASEAN Community and in both the Regional Comprehensive Economic Partnership Agreement and the Trans Pacific Partnership Agreement are further incentives for businesses to invest in Malaysia as a gateway to larger and more robust markets.

What are the biggest opportunities for property companies in Malaysia?

Master-planned residences, offices, retail and other amenities that are integrated within a neighbourhood and located close to quality public transportation are the biggest opportunities for property companies in Malaysia.

The 800-acre Sunway Resort City is the country’s first fully integrated green township as certified by the Green Building Index (GBI) of Malaysia. It is Sunway’s flagship township development, which has been transformed from a tin-mining wasteland into a sterling example of a transit-oriented community where people live, learn, work and play in a safe, healthy and connected environment. People of all ages and incomes have greater access to jobs and opportunities within the city, while also leading affordable and healthy lifestyles. Carbon footprint and transportation costs are also reduced, allowing residents more disposable income and spending power. Today Sunway Resort City welcomes 42 million visits annually and is home to more than 200,000 people, including a student population of 25,000.

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Driving real estate development in Malaysia

Malaysia’s property and construction industries continue to advance the country’s economy, as well as its social development

The Malaysian economy is at a period when it is able to grow sustainably, even during a global slowdown. At the centre of its ongoing development is the country’s robust property and construction industries, which, as well as attracting global investment, also makes social development a reality.

Integral to Malaysia’s ultimate progression into a developed economy is its commitment to corporate and social responsibility. Leading this approach is the Sunway Group, one of the most well-known and trusted conglomerates in Malaysia. The firm has gained its impeccable reputation through its continuous commitment as a master community developer to improve the lives of all that come into contact through a unique build-own-operate business model, powering its property and construction projects, the most notable being its modern and innovative townships spanning some 4,000 acres in Malaysia. World Finance had the opportunity to speak with Tan Sri Dr Jeffrey Cheah, Founder and Chairman of the Sunway Group, to discuss the country’s expanding property and construction markets, and the company’s role in Malaysian society.

 

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