#10MP* Malaysia to see sustained property demand

KUALA LUMPUR: Malaysia should be able to see sustained property demand backed by a good employment market, strong liquidity and conducive interest rate levels, said Mah Sing Group Bhd’s group managing director Tan Sri Leong Hoy Kum.

“We look forward to Malaysia’s next stage of growth to becoming a high income, high value economy, which together with Bank Negara’s accommodative monetary policy bodes well for the property market,” he said on June 10 in when commenting on 10th Malaysia Plan (10MP) tabled in the Dewan Rakyat.

Mah Sing, he said also welcomes high profile, high value initiatives like the new Kuala Lumpur International Financial District, the redevelopment of the Sungai Besi Airport area and the new Sungai Buloh township which were among initiatives under the 10MP to make Kuala Lumpur and the Greater Kuala Lumpur conurbation into a World Class City.

“Given the opportunity, we shall be happy to participate or jointly develop the area with the relevant government linked companies.

“We are confident that we can add value to the government land and contribute positively by capitalizing on our vast exposure, experience and success in various types of property developments as well as our sound financial standing,” Leong offered.

The Group also lauded the Government’s commitment to increase and improve road connectivity and the public transportation system.

“While our projects already enjoy excellent accessibility, any additional connectivity will bring added convenience for residents and tenants, and has the potential to increase property values,” Leong said.

He said the improved road connectivity and the public transportation system would benefit its various projects in prime locations in the Klang Valley, Penang and Johor Bahru.

A sum of RM2.8 billion is allocated for improving urban public transportation in the first two years of the 10MP. Improving urban public transportation was chosen as one of six National Key Result Areas (NKRAs), under the Government Transformation Programme.The upgrading efforts would focus mainly on three major urban areas - Greater KL, Penang and Johor Baru.
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