A HOT SPOT: Seven developers to showcase projects in township
PROPERTIES in Cyberjaya are starting to attract interest from foreign investors as the development matures and returns good yields.
"There is a huge demand for Cyberjaya properties due to their good returns," Nazri said at a briefing on the Cyberjaya Premier Property Showcase here yesterday.
Mah Sing Group Bhd chief operating officer Teh Heng Chong said the company has been getting lots of interest from Hong Kong and Singaporean investors for its properties in Cyberjaya.
Most of the properties in Cyberjaya have been largely up market ever since its inception in 1997.
The premium prices at the location, however, have not deterred even local investors to own a property there.
UEM Land Holdings Bhd chief marketing officer Siti Mariam Mohd Desa said presently about 80 per cent of its property purchasers in Cyberjaya are locals.
Setia Haruman Sdn Bhd chief operating officer CK Lao said demand for houses above RM2 million is still high with a take up rate that can reach 100 per cent for certain projects.
Lao said there are over 20 projects ongoing in Cyberjaya currently with a gross development value of RM10.25 billion.
He noted that there is a provision under Cyberjaya's development masterplan for affordable housing but that would depend on market demand.
Meanwhile, the developers hope the government would relax rules on financing third property ownership and allocate more funds to improve public transportation accessibility in the Cyberjaya in the upcoming Budget 2013.
The showcase, to be held on September 22-23, will feature seven developers namely Setia Haruman, Cyberview, UEM Land, Mah Sing, Glomac, MCT Consortium Bhd and Emkay Group.
By Business Times