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Monday, January 7, 2008

Showcasing properties in Penang

PENANG: The third installation of the Penang International Property Expo 2008 (PIP2008) will be showcasing residential and commercial properties in the state with a cumulative value close to RM3 billion.

The expo, to be held from March 14 to 16 at the Penang International Sports Arena, is expected to attract about 30,000 visitors and prospective purchasers locally as well as from overseas.

Unlike its previous expos over the last two years, organisers of PIP2008 have engaged the assistance of Fiabci (International Real Estate Federation), Penang branch, to bring in foreign developers to participate in this event.

To attract more foreign visitors, the organisers have also teamed up with the Malaysia Institute of Estate Agents (MIEA), Penang branch, which will be promoting the fair abroad.

It is understood that MIEA will be offering travel packages, such as its “Discover Penang Property Weekend” where foreign purchasers of properties under the Malaysia My Second Home programme would have their air fares reimbursed. There are also incentives for the estate agents overseas who bring in these buyers.

Speaking at the media launch recently, state housing committee member Wong Mun Hoe
said with the recent launch of the Northern Corridor Economic Region, there is great potential for every industry player.

“We are also fortunate to have established property development players from Kuala Lumpur, who, in addition to our local players, are contributing to new projects,” Wong said.

He added that industry players were also taking advantage to develop largescale projects on both sides of the second link, off the coast on the northern and eastern sides of the island, as well as near the site of the Penang Global City Centre.

By theSun (by Jonathan Chen)

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