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Wednesday, December 12, 2007

CIMB launches property mart

CIMB Group's Special Asset Management (GSAM) division has launched CIMB Property Mart, a showroom for properties to be sold by the group nationwide.

The property gallery, the first to be set up by a bank in Malaysia, allows the public to browse the properties on sale, learn about the auction process and obtain financing, all in one place.

Group chief executive officer Datuk Nazir Razak said there are about RM600 million worth of properties and land up for sale throughout the country by both CIMB Bank and CIMB Islamic.

We hope to raise the profile of auction properties

"By setting up the CIMB Property Mart as an alternative sales channel, we hope to raise the profile of auction properties," he said in a statement.

He said staff will be on hand at the property gallery to answer questions on the properties, the auction process as well as the financing packages.

"In future, we hope to leverage on the group's regional presence and use CIMB Property Mart to attract foreign property investors into the Malaysian property market," Nazir said.

The properties up for sale mainly comprise apartments, landed properties, development land and shop lots located nationwide, with the majority of them in Selangor, Wilayah Persekutuan, Negri Sembilan and Johor.

By New Straits Times

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