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Friday, February 10, 2012

Foreign developers set to mark presence at Mapex

The annually-held Malaysia Property Exposition (Mapex) will see the participation of foreign property developers for the first time this year.

Mapex chairman Datuk Ng Seing Liong said up to five foreign property developments in Thailand, Australia, the UK and the Philippines are likely to be featured at the event to be held from March 2 to March 4.

To date, companies with projects in Thailand and the Philippines have registered to participate and the organiser, Real Estate and Housing Developers' Association Malaysia (Rehda), is still awaiting confirmation from the Australian participants.

The Thai company will be promoting a property development in the UK as well, he told a press conference here yesterday.

Ng said at least 50,000 visitors are expected at the event, themed "Home and Abroad", which will be held at the Mid Valley Exhibition Centre and "we expect thousands of transactions to take place".

Mapex brings together a wide range of innovative property development, priced above RM240,000, from those under construction to completed projects, as well as offering financing packages for potential purchasers and investors.

He said Mapex will be a useful platform for international participants to showcase their projects to the Malaysian public apart from giving them the opportunity to meet top Malaysian developers.

As for the local players, 81 companies have confirmed their participation showcasing more than 300 housing developments, including Sime Darby, SP Setia, Mah Sing, Malton Bhd, IJM Properties, Lebar Daun Development, Naza TTDI, I&P Group and a few more.

Ng said the property market in Malaysia is still a sustainable industry and based on the country's population, 100,000 new houses are needed annually.

"And Klang Valley is still where the property market is most active, followed by Penang and Johor Baru," he said.

He added that the trend among Malaysians is still towards properties that are landed and in the urban areas, but "these properties are getting scarce and becoming more expensive".

Meanwhile, the second national-level Mapex will be held from October 19 to October 21.

By Business Times

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