PETALING JAYA (Sept 14): The Real Estate and Housing Developers’ Association Malaysia (Rehda) is targeting up to RM300 million sales for its upcoming second series of Klang Valley Malaysia Property Exposition (Mapex), which will be held from Oct 13 to Oct 15.
Speaking to reporters at a press conference today, Mapex 2017 organising chairman Datuk Ng Seing Liong said the lower targeted sales for this expo compared with the previous expo, was because of the decrease in the number of participating developers.
"This is in line with the general economic situation in the country. Generally, there is a slowdown caused by financial institutions not giving out enough credit," Ng said.
However, Ng noted he is expecting a better and improved outlook within the property sector for the the remaining second half of the year.
Among the 33 developers who will be participating in this expo to offer quality developments are Ekovest Bhd, Gamuda Land, IJM Land Bhd, Matrix Concepts Holdings Bhd, UDA Holdings Bhd and UEM Sunrise Bhd.
So far, there was only a 60% take up rate of the whole exhibition hall, Ng said.
He added Rehda is targeting up to 50,000 visitors for the three-day exhibition.
"We expect more will come forward and join us, for Mapex is widely known and recognised for its popularity," Ng added.
Furthermore, the upcoming Mapex will also be complimented by the participation of Maybank and Hong Leong Banks, to assist potential buyers regarding home loans.
"I urge more financial institutions to take part in Mapex to assist the public in their purchases. Financing is most essential in house purchase and there is no other better platform than Mapex for financial institutions to promote their products and packages to the target audience," Ng added.
"We are grateful for the strong support from the government and for their continued participations in our Mapexes all these year. For this Mapex, we have invited various ministries through its relevant agencies," Ng noted.
Amongst them are the National Housing Department (JPN) and Housing and Strata Management Tribunal (TPPS) under the Urban wellbeing ministry, housing and local government (KPKT), the public sector housing financing institution (LPPSA) under the ministry of finance (MoF), and others.