MDCA to be platform for Malaysian developers' Australian expansion

PETALING JAYA (Nov 28): The Malaysian Developers Council of Australia (MDCA) has been established and launched in Melbourne earlier this week, the council was set up with the objective to assist Malaysian developers who are looking at expanding their presence Down Under.

The launch was witnessed by over 100 real estate and other industry professionals.

Among those present were current Consul General for Malaysia in Melbourne Westmoreland Palon and PwC Australia managing director in financial advisory practice Datuk Jasmin Kaur.

The council’s inaugural president is Datuk Choong Kai Wai, who is also SP Setia Bhd Melboune's CEO. Choong said the council’s goal is to formally introduce MDCA as the platform for Malaysian developers looking to grow their presence in Australia.

MDCA vice president and MRCB Australia director Alex Lim said the MDCA has received an overwhelming response as members see value in industry knowledge sharing, such as industry best practices, as well as networking opportunities.

Colliers International managing director of residential division in Victoria, Tim Storey noted that Malaysian property developers play a significant role in shaping the local economy.

“For instance, the recent project - Sapphire By The Gardens, not only meets market’s demands for premium apartments, its partnership with Shangri-La Hotel will also strengthen Melbourne’s hospitality industry through job creation for the future,” he added.

Other strong showings by Malaysian developers in Melbourne include Beulah International’s Southbank by Beulah, an integrated development set to become Australia’s tallest tower within Southbank, as well as OSK Property’s Melbourne Square which sees a whole precinct revitalised through its extensive amenities.

Several other developers have also ventured out to the suburbs, with EcoWorld International recently breaking ground for Yarra One in South Yarra and MRCB Australia’s construction of 1060 Carnegie well under way.