Properties worth RM3.8b for sale at Mapex 2007

By BUSINESS TIMES

NEARLY 9,000 properties, valued in excess of RM3.8 billion, are being offered for sale at the second Klang Valley-level Malaysia Property Exhibition (Mapex 2007).

The event, held at the Mid Valley Exhibition Centre in Kuala Lumpur, is organised by the Real Estate and Housing Developers’ Association (Rehda).

Mapex 2007 organising chairman Teh Boon Ghee said there is a galore of residential properties offered at this one-stop home and mortgage event, with units not only located in the Klang Valley, but also in Putrajaya, Negri Sembilan and Pahang.

Teh, who is also Rehda Wilayah Persekutuan Kuala Lumpur chairman, said the 61 participating developers are not only offering yet- to-be-completed units but also completed ones.

“Those who are still not ready to buy should also visit the fair to feel the market for themselves,” he said, noting that the show serves as a platform for developers to promote and sell their properties to potential buyers.

He said based on the previous Mapex exhibitions, Rehda expects to attract a crowd of more than 22,000 and hopes to achieve sales of between RM75 million and RM80 million.

Since Mapex’s inception in 1998, Rehda and its branches have organised nearly 150 Mapexs in Malaysia, generating sales of more than 30,000 units of properties worth about RM5 billion.

Teh said over the course of the year, some 20 Mapex exhibitions will be held throughout the country, organised by the respective state branches of Rehda.

Housing and Local Government Minister Datuk Seri Ong Ka Ting, who earlier officiated at the event, reminded local councils that they have until June 15 to set up one-stop centres (OSCs) to process property development applications.

He said the OSCs’ task is solely to process development applications and give the approval, if everything is in order, within six months.

It will help slash the time taken to approve construction projects from five years to six months as part of an incentive package to boost investment.

“More than 500 town planners, technical assistants and support staff will be recruited and sent to local councils to man these OSCs,” Ong said.

He said the ministry, with the cooperation of the National Institute of Public Administration, government agencies, professional bodies and associations representing the property development industry, will hold road shows to create awareness of the OSCs and their role.

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