Yong Tai Bhd
Frankie Tan Yong Tai Bhd general manager of sales
“In my opinion, with the change in government in the country, it will take a while for the new government to settle down and formulate new policies. Thus we anticipate that many investors may adopt a wait-and-see attitude from now until the end of the year. However, selected properties for own stay in strategic locations with good connectivity would do okay.
Nevertheless, I believe tourism properties will likely continue to do well in the current market because tourism is a recession proof industry. This is particularly applicable to Melaka, Penang and Sabah where more than 50% of tourists are locals. A typical example would be a family of four with RM2,000 travel budget could have a very comfortable 3 days 2 nights holiday in Melaka.
Coming back to real estate investment, I foresee that from now till end of the year, the market provides a good ‘opportunity window’ to property investors or buyers to hunt for value deals. For investment purposes, I recommend tourism real estate products, especially properties with good lease management. Melaka, Penang and Sabah are in a better position amongst others.
With the new government, we hope that the ‘Visa free’ travel for Chinese tourists will be implemented to boost tourist arrivals from China. We also hope that the new government could encourage and incentivise more airlines to fly from Melaka to overseas.”
PROJECT SHOWCASED AT VPEX 2018
Impression U-Thant, Kuala Lumpur
Impression U-Thant is a freehold development strategically located in the heart of the capital city, overseeing the Royal Selangor Golf Club and near the Embassy Row. It is a collection of low-density luxury serviced apartments with dual-key features and smart home system.
From its sophisticated design to quality craftsmanship, Impression U-Thant promises a perfect abode.
The project will also feature over 20 choices of fitness and recreational facilities for all ages and fitness levels.
A special 7% rebate is being offered to purchasers for a limited period.
The Dawn, Impression City, Melaka
The Dawn is a 2-block property on a five-acre site in the 138-acre Impression City, Melaka. It consists of 648 units and four types of layouts – Standard, Pool, Jacuzzi and Executive Suites. The two blocks of 28 and 29 levels each are marketed as a condotel fronting the Straits of Malacca with a host of amenities and facilities.
It is the first condotel in Impression City which is being designed based on the theme of the theatre production of Encore Melaka, hence residents can experience an ambience that resonates with the theatre and performance.
The Dawn will also house the first and largest garden wedding venue in Melaka, which will be managed by the management team of The Pines Melaka Hotel.
This story first appeared in the EdgeProp.my pullout on July 6, 2018. Download EdgeProp.my pullout here for free.