E&O Prop targets Singapore market

By The Star

KUALA LUMPUR: E&O Property Development Bhd (E&O Prop) has chosen Singapore for its maiden foray overseas, setting up a marketing office and sales gallery in the republic.

The company said Singapore was a clear choice because Singaporeans and Singapore-based foreign investors were some of its largest overseas buyers.

“The high per capita income, buoyant property market and close proximity to Malaysia make Singapore a key strategic market for E&O Prop,” it said in a statement.

Marketing and sales director K.C. Chong said Singapore's property market was mature and investors were savvy and had high purchasing power.

He said Malaysian properties had become more affordable following the Government's relaxed restrictions on foreign property ownership for residential properties and the abolishment of real property gains tax in April.