S'POREANS STILL FIND JB HOMES ATTRACTIVE

JOHOR BAHARU (Malaysia), March 23 (Bernama) -- Buying a residential property in Malaysia, especially here, is still an attractive option for Singaporeans.

Property developer, SP Setia Bhd, said this was despite the negative
perception about the state capital and the current tough economic conditions the
Republic was going through.

Its chief executive officer, Liew Kee Sin, said the company was
confident that Singaporeans would continue to invest in the Malaysian property
market, both here and in other parts of the country.

"To date, about 800 Singaporeans have invested in properties built by the
company worth an estimated RM300 million (US$1=RM3.60)," he said at the opening
of its office at the Harbour Front in the business district of Singapore Monday.

Liew said even though the figure represented only only five percent of the
company's gross development value, it was encouraging.

"I think there is a potential to reach 10 per cent mark which is an ideal
figure. The cost factor is one big reason why Singaporeans find it attractive to
invest here.

"Furthermore, there is the Iskandar project and also the Malaysian
goverment's policy on property investment for foreigners," he said.

Liew said the office in Singapore would serve existing customers and
potential new ones.

"The office will also help the international community interested to
participate in 'Malaysia My Second Home' Programme," he said.

-- BERNAMA