NEW PROPERTY GALLERY TO ATTRACT FDI INTO MALAYSIAN REAL ESTATE

From Nor Baizura Basri

SINGAPORE, Oct 4 (Bernama) -- The Malaysia Property Gallery could be a
springboard for Malaysian developers to lure more foreign investors into the
real estate industry especially with the country's advanced infrastructure,
better education system and conducive living environment, said Chairman of
Malaysia Property Incorporated (MPI), Thong Yaw Hong.

Strategically located next to the Singapore Stock Exchange, the heart of the
business world in the Lion City, the gallery could be the point from where
developers and buyers can meet and know more about the Malaysian real estate and
its potential in the region.

"Against the backdrop of a changing economic landscape and increasing global
competitiveness, Malaysia should leverage on its real estate sector as a new
model for FDI (foreign direct investment). After all, we have award winning,
world-class developers and products," he said to Malaysian reporters during the
launch of the gallery Friday.

He said the platform, besides helping developers to tap the Singapore
market, would also be a catalyst in supporting the government's agenda to
attract FDI into the property industry.

The gallery's ground floor and mezzanine floors are available for rent to
showcase Malaysian properties for sale on a weekly basis.

It also features seminar and meeting rooms for private presentations, which
can be used for promotional and branding purposes by Malaysian property
developers.

Meanwhile, the exhibition space on both the ground and mezzanine floors,
have been fully booked by several top Malaysian developers until the year-end.

Besides the exhibition of new property offerings, Thong said foreign
investors would be able to get a first-hand information on suitable locations,
real estate policies and get to talk to the experts.

"Historically, Malaysia and Singapore have a close relationship and we want
to leverage on that platform to strengthen further the relationship. This will
allow developers from both countries to exchange relevant information as well as
capitalise on each other's strength," he added.

Besides Singapore, MPI is also looking to branding Malaysian real estate
in several other countries like South Korea, Hong Kong, Indonesia and China,
Thong said.

MPI is a government initiative set up under the Economic Planning Unit with
the main objective to drive investments into Malaysian real estate, as well as
provide a platform for Malaysian developers to show their capabilities and
current projects.

Since it was established in mid-2008, it has been aggressively promoting the
property sector in Malaysia abroad through roadshows, meeting key corporate
leaders as well as playing the matchmaker and facilitator in the industry.--
BERNAMA