Mapex 2015 opens at Sunway, aims for over RM1 bil in sales

PETALING JAYA (July 31): The Malaysian Property Expo (Mapex) 2015 is projecting over RM1 billion in sales, according to its committee chairman, Datuk Ng Sieng Liong, at the Malaysia property expo (Mapex) opening in Sunway Pyramid Convention Centre, today.

“In total, there will be about 10,000 units of properties with a total retail value of RM8 billion on display, majority of which are located in the Klang Valley in areas such as Puchong, Cyberjaya, Cheras and Kajang,” said Ng. “To encourage purchasing for this Mapex, Real Estate and Housing Developers’ Association (REHDA) is also giving away cash rebates worth RM2,000 to the first 10 property purchasers.”

The three-day expo with the theme “Towards green and affordable homes” will be held at Sunway Pyramid Convention Centre from July 31 to Aug 2, with the participation of 43 reputable developers. There will be property talks on topics such as green and affordable housing, personal finance management and demand-driven property investments in Kuala Lumpur

Also at the opening was Datuk Mah Siew Keong, minister in the prime minister’s department and Datuk Fateh Iskandar Mohamed Mansor, president of REHDA Malaysia.

Mah sees REHDA’s efforts to establish an alternative green rating tool will help “drive the Malaysian real estate industry towards a more sustainable environment”.

Meanwhile, Fateh Iskandar acknowledges the slow property market but believes that “the support from the government is significant in ensuring that the industry continues to remain resilient”. He added that REHDA has proposed several ideas such as revisiting laws, regulations and policies to help lower the overall cost of housing and also for affordable housing post-GST.

“This has resulted in some breakthroughs, the latest being the announcement by the Customs Department with regards to a joint-venture agreement, where land owners do not need to charge developers GST on the supply of rights to use the land or supply of land,” added Fateh Iskandar.

Mapex is jointly organised by REHDA Malaysia, REHDA Wilayah Persekutuan and REHDA Selangor branch. The event was first held at Mid Valley Mega Mall in April, attracting more than 50,000 visitors. The next Mapex session will also take place at Mid Valley Mega Mall from Oct 30 to Nov 1.