There seems to be a lack of awareness among foreign investors about the property market in Malaysia, laments Kumar Tharmalingam, chief executive officer of Malaysia Property Incorporated (MPI).

And to remedy such a situation, a Malaysian delegation of distinguished property developers and non-profit government entities will participate in MIPIM Asia 2011 led by MPI, a Malaysian Government initiative set up to facilitate and promote investment for Malaysian real estate.

To be held at the Hong Kong Convention & Exhibition Centre from Nov 15-17, MIPIM Asia 2011 is an international exhibition showcasing the projects and accomplishments of high-end property developers in Asia. Created in 2006 by Reed MIDEM — an organiser of international B2B events in the property and entertainment industries — MIPIM Asia is a top real estate event in the Asia-Pacific region.

Says Kumar, “Among the local developers for this exhibition are Sunway, IJM and the Selangor state investment arm PKNS. Non-profit government entities promoting investments in the country such as investKL, investPenang , 1MDB, Pemandu and Green Building Index representatives will also be joining us.

“Three main areas that we would like to promote in MIPIM Asia 2011 are Penang, the Greater Kuala Lumpur region and Johor, in particular, the Iskandar development region.

“Residential properties to be promoted, will have a starting price of RM1 million.”

Says MIPIM Asia senior project director William Young, “We had held MIPIM exhibition in Cannes, France, in March this year with a total of 18,590 participants from over 91 countries.”

“We believe that property market in Malaysia has great potential among (international) property investors. One of the main reasons is the good track record that this industry has achieved, especially in transparency, legal structure and the country’s stability, in terms of land value.”

Adds Kumar,“ It is not just Malaysian properties that we are promoting at this exhibition, but we want to bring foreign property investors to our country.”

He cites that presently, foreign property investment in the construction sector merely accounts for two percent.

“If we are able to attract foreign investors, they will not just have the capital to kick-start major projects in the country but also transfer their skills and technology to the local property scene. This in turn, will reduce the time and costs taken to complete a project,” points out Kumar.

The Malaysian delegation will have a trade pavilion designed by local architectural firm Hijjaz Kasturi Associates. Designed in the form of a “ribbon”, the pavilion represents Malaysia’s shared values and the high quality of development in diverse property choices.

SOURCE: The Star