MPI to rev up overseas roadshows

MALAYSIA Property Inc (MPI) will be ramping up its overseas roadshows and programmes in the coming months to promote Malaysia as an international real estate destination.

The primary markets targeted include Singapore, Britain, Japan, Hong Kong, Indonesia and the Gulf Cooperation Council countries, while the secondary markets are China, India, Pakistan and Bangladesh.

It will be taking part in the “A Place In The Sun” property exhibition in London from April 3 to 5, followed by a four-day roadshow that covers London and Manchester in July.

Following the success of its first roadshow in Tokyo last December, a second roadshow will be in Osaka on April 17-18, and in Tokyo on April 25-26.

Over 1,000 participants turned up for the seminars and talks in Tokyo.

MPI chairman Datuk Richard Fong said the challenge was to convince international investors that Malaysian property offered better value than other subprime properties elsewhere and the country’s economy was expected to remain steady despite the uncertainties in the global economy today.

‘’Malaysia has much to offer real estate investors. Foreigners can buy an unlimited number of properties; register them in their names; and there is no real property gains tax, inheritance and transfer tax, unlike the many restrictions on foreign buyers in the other countries.

“We are going on a two-pronged approach to promote local property as an attractive and high return investment destination and as a value-for-money second home choice,” Fong told StarBiz.

The activities lined up include having continuous introductory and follow-up briefings for the target groups; an online presence via the MPI website with hyperlinks to websites of supporting developers; online property databank; encouraging developers to meet international standards in quality and workmanship; working with the media; and raising awarEness through advertisements, brochures and newsletters.

At MPI’s maiden roadshow in Tokyo, the team realised that not many Japanese knew about Malaysia. Plans are afoot to invite journalists from Japan to visit and write about Malaysia.

Before promoting Malaysia’s properties, MPI would be working with Tourism Malaysia to promote the country first, said MPI director Yeow Thit Sang.

“Our focus is to brand the country as a preferred real estate and second home destination in the international arena. Potentially it will have a significant impact to promote foreign direct investment in real estate,” he added.

MPI expects to spend RM3.5mil to RM4mil a year over the next five years for its brand-building exercise.

Yeow said while Singapore had successfully attracted many high net-worth investors with 25% of its properties sold in the last few years to foreigners, Malaysia’s sales to foreigners only made up 3% of the total RM2.5bil industry sales last year.

“Our target is to attract at least 10,000 foreigners to buy at least RM1mil worth of property each,” he said.

By The Star (by Angie Ng)