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Saturday, December 5, 2009

Penang properties popular among Indonesians

A view from IJM’s Parkview Towers in Bukit Jambul. Some buyers like the area’s greenery.

NORTH Sumatran cities such as Medan and Bandar Acheh provide an alternative market for Penang properties during this global recession period.

Datuk Faudzi Naim Noh ... ‘Landed and high end residential properties will be exhibited at the fair.’

IMT-Gt Joint Business Council Malaysia chairman Datuk Faudzi Naim Noh told StarBizWeek that there is a demand for Penang properties from well-to-do Indonesians because it is common for a small and medium size entrepreneur in these cities to earn a RM20,000 to RM30,000 income per month.

“They could be hawkers, but they have access to a larger market.

“A significant portion of the entrepreneurs are involved in the palm oil and bird nest trade, which are not that badly affected by the global economic crisis.

“Medan, for example, has a population of about four million, of which about 30% earns between RM20,000 and RM30,000 monthly,” Faudzi said.

He was speaking after launching ADA Shared Services Sdn Bhd new office at the RM100mil SunTech Tower in Bayan Baru, also known as Penang Cyber City 1.

Faudzi said some six developers and shared services companies from Penang would show case their products and services at the Penang Fair in Medan 2010 from March 29 next year until April 3.

“Landed and high end residential properties priced from RM500,000 and above will be exhibited at the fair. Properties from Penang generally sell well in Medan, as there are many Medanese who are looking to Penang as an education destination,” he said.

Faudzi added that Medan and Acheh are new markets which Penang-based shared services companies could explore.

“In Medan and Acheh, there are not that many shared services equipped with advanced IT infrastructure, whereas there are such companies in Penang,” he said.

Meanwhile, ADA Shared Services managing director Soo Chee Leong said ADA aims to tap into the market for new multinational corporations and small home offices employing limited staff.

They will be offering their services in the Penang Fair in Medan next year.

By The Star (by David Tan)

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