Celebrating A Vibrant Property Sector in Our “New” Malaysia

loading (Left to right) Mark Saw (MIEA), Dato’ Finn Choong (PDCMC), Ng Han Seong (REHDA), Jagdeep Singh Deo, Ong Ban Seang, Ir. Addnan bin Mohd Razali (MBPP), Michael Geh (FIABCI) and Ang Seng Gin (PDC).

Heralding a new beginning for the country, the Penang Property Summit, in its fifth consecutive year, returns in January 2019 with a very apt theme: “Celebrating a vibrant property sector in our “New” Malaysia.

With the change of government, the property landscape is expected to undergo a dynamic transformation – and if that doesn’t get folks excited, perhaps a lowdown on some numbers might:

In Penang, some 82,472 units of low-cost, low-medium cost and affordable housing have been built or are in the works – all within a short period of 10 years. This is on top of the various other types of housing that already exist in or are planned for Penang.

Just two months ago, in August, the Penang state government hosted its eighth affordable housing expo showcasing some 6,234 units of various types of affordable housing. As many as 5,000 visited over a two-day period, which goes to show that folks all and sundry are keen to buy and own their own houses.

And what better way to get acquainted with matters on property than the Penang Property Summit. It is organised by the Penang State Housing Committee in collaboration with PenEvents, with Jagdeep Singh Deo – who leads the Local Government, Housing, and Urban and Rural Planning Committee as – chairman and Ong Ban Seang of PenEvents as event director. The core value of the conference is its interesting integration of trade events, comprising conferences and talks as well as its consumer expo (PIP expo).

It has as its event partners key trade associations such as the Real Estate & Housing Developers’ Association (Penang); the International Real Estate Federation (Penang); the Property Development, Construction & Management Committee of the Penang Chinese Chamber of Commerce; the Malaysian Institute of Estate Agents (Penang); as well as lead agencies related to property management such as the Penang Island City Council (MBPP), Seberang Perai Municipal Council (MPSP), the Penang Development Corporation and the Penang State Housing Department.

The major highlights of the PIP conference will be the keynote addresses by the Minister of Housing and Local Government, Zuraida Kamaruddin; and Chief Minister Chow Kon Yeow. They will also have exclusive closed-door dialogues with key stakeholders in the industry.

The mayor of MBPP and the president of MPSP will also be present to address the industry and convene a closed-door dialogue with the stakeholders.

The PIP conference has gained much traction as a sought-after forum for industry players and key public officials to network and broaden their knowledge on issues and trends relating to the property industry. A number of the deliberations and proposals in earlier conferences were successfully implemented by the state government as policies and measures.

The conference is complimentary and invitations will be extended to industry leaders as well as the “who’s who” in the industry. Given the focus on the new National Housing Policy – in particular the focus on affordable housing – much is expected from the presentation by the minister, and as for the chief minister, his vision for Penang 2030 is highly anticipated.

Jagdeep Singh Deo.

The PIP Property Expo

The PIP Property Expo is in its 16th year – a most remarkable feat – and is a key component of Penang Property Summit 2019. It will have over 30 booths showcasing projects that are noted for their quality of choice, location and attractive pricing. Most significantly, the expo will have 12 premier booths designated for conference sponsors. “This year, there will be more participation from the corporate crowd,” reveals Ong.

Over two days, an estimated 1,000 invitees are expected for the various presentations, forums and talks. Exhibitors are expected to come up with special deals that will benefit potential home buyers.

A first for the summit is a series of seminars for potential house buyers. It is free to attend but participation is by registration – each session is limited to the first 100 registrants. The topics of the seminars serve to boost the confidence of the attendees in making a choice purchase.

There will be an affordable housing section featuring a wide range of projects under the category, including units that are exempted from the usual restrictions. The State Housing Department will conduct registration exercises for members of the public who are interested in low-cost, low-medium cost and affordable housing; those who have registered can also use the event to update or check the statuses of their registration.

Ong Ban Seang.

Also to be discussed during the forums and panels at the summit are updates on the Malaysia My Second Home (MM2H) programme, prospects of the property industry for Penang in 2019, accommodation for foreign workers in Penang and issues related to high-rise living.

One can also attend the interesting public talks on exciting topics such as Feng Shui and ways to secure financing for house purchases. Jagdeep revealed that he met with Zuraida in June this year to discuss various issues pertaining to housing, including the high loan rejection rate for first-time home buyers. It is hoped that Zuraida will provide an update on the said issues, Jagdeep says. “On the issue of bank loan rejection, Zuraida is working on it now, and hopefully I can get something in her announcement at the end of the year in the new National Housing Policy,” he says.

“This sort of summit is about engagement – we hope to get all kinds of input to see how we can make the housing market more accessible to the layman. Property prices keep going up, so for me, the most important thing is accessibility to housing.

“Various stakeholders have requested the state government to review the various charges imposed on developers. I have been tasked to study this, and it is anticipated that our findings will be forwarded to the state before year end for consideration. It is most likely that the summit will be an appropriate avenue for me to update all stakeholders in this regard as well,” says Jagdeep.

Penang is probably the only state in the country where the state government organises a regular forum for effective communication and encourages the exchange of views with stakeholders in the property industry. The Penang Property Summit’s distinctiveness lies in the synergy of its trade programmes, and that of its expo. Much can be expected and, in line with the theme, celebrated in this New Malaysia.

The Penang Property Summit will take place on January 5-6, 2019, at Setia SPICE Arena, from 11am-9pm. For enquiries, contact event director Ong Ban Seang at +6012 428 0202 or email him at banseang@gmail.com; or Lam Foo Yuen at +6012 428 9200 or email him at lamfooyuen@gmail.com

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