|Date: 23 May 2019||Published by: IBN|
The recent meeting between the Chairman of Malaysian Investment Development Authority (MIDA) Dato' Abdul Majid Bin Ahmad Khan and the representative from Chinese Enterprises Association In Malaysia has attracted world-wide attention, particularly among economists and investors.
The reason behind the new hype is that the newly appointed Chairman of MIDA, Dato' Abdul Majid is also a former Malaysian Ambassador to China and the current president of the Malaysia-China Friendship Association (Persatuan Persahabatan Malaysia-China, PPMC). His appointment is set to bring new collaboration between China and Malaysia to promote economic development!
During the meeting, Majid told the representative from China Enterprises Assocation In Malaysia that all Chinese entrepreneurs are encouraged to expand their businesses to Malaysia. He also mentioned that MIDA is currently planning to organise some talks for China entrepreneurs to provide them with information regarding the investment policies and investment environment in Malaysia.
The series of good news and continuous collaboration between Malaysia and China has resulted in healthy development of Malaysia’s investment environment. Foreign investors has built up more confidence with investing in Malaysia.
International Monetary Fund (IMF) has named Malaysia as the next emerging developed country in Asia with a very positive regional economic outlook. The Global House Price Index has listed Malaysia as top 3 in terms of capital appreciation for properties with a rental return of 6% to 8% per annum. It is far higher than that of China at 2.66%, Hong Kong at 3.23% and Singapore at 2.93%.
The Chinese are confident to invest in Malaysia because it is a bridgehead for Belt and Road Initiative and one of China’s largest trading partner in Southeast Asia. The country offers excellent education opportunities and healthcare systems, no language barrier as Chinese culture and language is deeply rooted in the society and MM2H programme that allows them to stay in Malaysia freely while keeping their own nationality.
Malaysian Government has invested RM 172 billion to implement the Greater Kuala Lumpur programme in 2010. Since then, the city has experienced rapid economic growth and the property price growth averages at 9.7% per annum. To meet the increasing house demand, IBN Corp has undertaken a development project at Genting Highlands, which is about 50km away from Kuala Lumpur city centre.
The Visit Malaysia 2020 campaign was launched with the goals of welcoming a total 30 million tourists to Malaysia and registering RM100 billion in tourist receipts within 2020. Genting Highlands, being a world class tourist destination that boasts a lot of entertainment options such as Genting Casino and Arena of stars, is expecting a large amount of tourist visits, which will generate a large accommodation demand within the area.
IBN Highlands City is a billion-dollar project developed by IBN Corp Ltd. Located in Asia’s largest summer retreat – Genting Highlands, this mixed-use development project integrates serviced apartment, commercial area and 5-star hotel to form a luxury property second to none within that area. The project has a total built-up area of 780,000 m2 with the serviced apartments taking up 580,000 m2 and the commercial area taking up 28,000 m2. The main units have standard size of 70 – 121 m2 and some limited premium units of 170 – 333 m2 delivered fully furnished without shared areas. IBN Highlands City is a 99-year leasehold property with no inheritance tax that is designed to meet the accommodation needs of Genting Highlands, making it one of the best properties for both investment and own stay. Upon completion, IBN Highlands City will become a new landmark in Genting Highlands.
Genting Highlands is one of the most popular tourist attractions in Malaysia with 70,000 daily tourist count. However, there is limited amount of hotel rooms available and only 27% of these tourists are able to stay there. IBN Highlands City is set to cater to the huge accommodation demand. The project also offers confirmed tenancy for up to 3 years after VP. It is the perfect investment that you should not miss!
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