Mega Tourism Projects: Key to
Langkawi’s Bright Future
The mega tourism
projects in Langkawi by
big ticket companies
is a testament that
Langkawi is capable
of competing with the
likes of Indonesia’s Bali
and Phuket in Thailand,
according to The Business
Times.
Major companies making
a beeline for the ‘Isle
of Legends’ include
Khazanah Nasional,
Indonesian conglomerate
PT Rajawali Corp and
hotel management
group Starwood Hotels &
Resorts.
But Tradewinds Corp
Bhd’s (TCB) upped the
ante with its RM4 billion
Perdana Quay project on
the island. This mammoth
development is touted as
the game changer that
will do more than simply
put Langkawi on the map.
“It will be a giant magnet
pulling visitors from all
over the world to its
endless array of worldclass attractions and
venues,” said TCB Group
CEO Shaharul Farez
Hassan.
Targeting well-off
travellers who are seeking
ecological and natureoriented getaways,
Perdana Quay is hailed
as Langkawi’s first-ever
integrated leisure,
retail, residential and
commercial development.
The mega project also
complements the
Tourism Department’s
‘Naturally Langkawi’
tagline, which is being
used by the government
to promote the island’s
many attractions
such as marine parks,
pristine beaches, birdwatching, jungle-trekking,
mangroves teeming with
wildlife and a geopark
endorsed by UNESCO.
In addition, one
of Perdana Qua’s
components is the The
Burau Langkawi, a new
swanky resort with a
whooping price tag of
RM420 million. Expected
to open by end-2017, it
comprises 60 luxury villas
and 245 deluxe rooms.
Given Tradewinds’
massive investment in
Langkawi, Prime Minister
Datuk Seri Najib Razak
is bullish that the island
will attract three million
tourists each year. Apart
from creating 4,200 new
jobs for Malaysians, the
influx of visitors is also
expected to inject RM3.8
billion in the economy.
Residential Property Supply to Exceed Demand in
KL, Selangor, Penang and Johor
Country Garden maiden project in Iskandar, showcasing 9000 units of residences
The supply of residential
properties in Malaysia for
2014 is expected to be
more than that seen in
2013, driven by the rush
to meet demand before
the upcoming goods and
services tax (GST) takes
effect.
PropertyGuru Malaysia
Country manager Gerard
Kho highlighted this to
The Borneo Post, adding
that excess supply
will incure the same
response in buying trend
whereby buyers will rush
to purchase residential
properties before prices
escalate beyond income
growth level.
“Cooling measures by Bank
Negara Malaysia (BNM)
is needed to avoid the
aggressive rush that could
affect us more.
“Implementation of RM1
million threshold for foreign
investor also help to push
sales of high-end properties
that may not affect the
mass market or first-time
home buyer,” Kho said
He also noted that the
buying power of residential
properties in Malaysia will
potentially slow down due
to the tightening of BNM
regulation on loans.
“However, interest to
purchase of homes is on an
increasing trend due to the
awareness of home pricing
which may rise in line with
cost of living that will impact
city folks significantly,” Kho
pointed out.
Meanwhile, on the current
buying trend of residential
properties in Malaysia,
the country manager
commented that the
buying trend is “looking
good” especially in urban
city centre areas such as
KL, Selangor, Penang and
Johor, which is in the rapidly
developing Iskandar area.
“We have seen consistent
strong search of properties
in these areas from
our portal. Search of
apartment/condominium
and terrace/link house
seem to be on the rise
compared to semidetached units and other
high value properties.
Kho revealed that in KL,
house price index rose
dramatically, with nominal
prices up by 14.4 per
cent as an average price
of a house is currently at
RM650,000.
This was followed by
Selangor, of which
house prices average at
RM400,000 according to
the Valuation and Property
Services Department (JPPH),
he explained.
Kho also noted that house
prices have surged in
Johor (20.4 per cent), Pulau
Pinang (14.3 per cent), and
Negeri Sembilan (6.3 per
cent).
“It is obvious that midrange properties will be in
demand due to the market
demand from mid-income
market segment,” he
explained.
As for house prices in
Malaysia, Kho pointed out
that prices are still surging,
despite anti-speculation
measures.
“In the third quarter of 2013
(3Q13), Malaysia’s national
house price index rose by
10.1 per cent year-on-year.
It was only slightly lower
compared with 2012 which
was 11.9 per cent,” he said.
www.PropertyHunter.com.my
63