JOHOR BARU: The Real Estate and Housing Developers Association (Rehda) Johor hopes to register sales of RM100mil from the state-level Malaysia Property Expo (Mapex) 2008, which will be held here next week.
Branch chairman Steven Shum said the association recorded sales of RM150mil at last November’s four-day property expo in which 40 developers took part.
“To be able to make RM100mil this time around is good, considering the uncertainties in the global economic scenario,” he told StarBiz.
Shum said developers taking part in the upcoming event were not expecting to make big profits; in fact most of them were looking to break even and clear existing stocks.
He said the main objective of the last event was to create more awareness among potential house buyers of the best time to buy houses.
Shum said the actual price increase in building materials had not been factored into the selling prices of properties showcased in Mapex 2008, thus buyers would be paying reasonable prices. He said Johor currently had a property overhang of more than 8,000 residential and commercial properties worth RM1bil, which Rehda hoped to cut by half this year.
By The Star (by Zazali Musa)
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