Is Malaysia becoming India’s realty destination gradually?

Why shouldn’t Malaysia move on further when most of others enthused by decline of worldwide recession are doing the same? Even if anyone thinks quite the reverse, he is highly erroneous since Malaysia seems to be recklessly determined to strengthen indigenous realty sector and to pull more foreign direct investments (FDI) into its real estate sector, it is leaving no stone unturned to earn major investments from countries like Singapore, UK, Korea and India. Nevertheless, from an assortment of recently made statements, it seems that India is getting lots of attentions at the moment.

It is to be noted that the Foreign Investment Committee (FIC) of the Government of Malaysia has annunciated of late of a wide-ranging deregulation of investment guidelines to help smooth inflow of investments into the country. What is more, as part of its India investments initiative, the Malaysian government is going to organize a property expo in Chennai from January 22-24. The expo will be inaugurated by Malaysian Prime Minister Mohd Najib Tun Razak, as stated by Kumar Tharmalingam, member, board of governors, Malaysia Property Incorporated (MPI).

“The most important aspect in purchasing Malaysian real estate is the land law system that allows for transparency and enforceability of ownership. Foreigners also have no impediment to buying freehold Malaysian real estate and to sell when the need arises without restriction,” Tharmalingam said.

Is this enough for tempting Indian realty tycoons to Malaysia? If this is your question, let me remind you that only in 2008, Indian investors were the fourth largest in residential property investments in Malaysia after Singapore, UK and Korea. The locations of choice were Kuala Lumpur, Penang and Johor with a price range of $150,000-$300,000.

It has also been learnt that the expo is being organized in tandem with the Confederation of Indian Industry’s Partnership Summit 2010. It will be exhibiting some of Malaysia’s award winning developers and their latest projects. The firms that are going to participate include IJM Berhad, Glomac Berhad, IOI Properties Berhad, Metro Kajang Holdings Berhad, the Eastern Corridor Economic Regional Development, the ministry of tourism, Matrix Concept Holdings Berhad and Zerin Properties.