left to right: Lim Swe Guan, Peter Mitchell, Kumar Tharmalingam, Stewart LaBrooy
The Asia Pacific Real Estate Association (APREA) recently announced the establishment of the APREA Malaysia Chapter, its eighth in the region, after Hong Kong, Japan, Singapore, Korea, Australia, India and the Philippines.
The launch is part of APREA’s strategy to operate on a decentralized basis in all key markets in the region, with the aim of disseminating information about the real estate opportunities in Malaysia to the international investor community and providing the Malaysian real estate community with an expanded network.
The first chapter of APREA, a non-profit industry association, was initially set-up five years ago in Hong Kong with only 45 members and has now more than 165 members in the region.
Peter Mitchell, CEO of APREA said, “Since the launch of our first chapter, we have continued to expand our network as part of our goal to promote and represent real estate markets more effectively in each country. The Malaysian real estate market is a unique and growing market which domestic and overseas investors cannot afford to ignore.”
The Malaysia Chapter will be headed by a group of six, Kumar Tharmalingam, CEO of Malaysia Property Incorporated; Stewart LaBrooy, CEO of Axis REIT Managers Bhd; Christopher Boyd, Executive Chairman of CB Richard Ellis (Malaysia) Sdn Bhd; Rajiv Vijendran, Managing Director and Head of Equity Capital Markets of Maybank Investment Bhd; Tejinder Singh, Director and Head of Financial Institutions at Standard Chartered Bank Malaysia Bhd and Dato’ Jeffrey Ng, CEO of Sunway REIT Management Sdn Bhd.
Lim Swe Guan, Chairman of the APREA Board of Directors, commented that the establishment of the Malaysia Chapter is a timely and important move, highlighting the importance of the Malaysian real estate market to investors in the APAC region and globally. With the listing of more REITs and the wider investment appeal of real estate, the next step is to expand APREA’s membership in Malaysia and facilitate more investors and participants into the market.
Kumar who is also now the Chairman of APREA Malaysia Chapter, mentioned that the financial infrastructure in Malaysia is resilient and is a major contributing factor to the market stability in the country, with property prices steadily increasing 5% to 6% yearly. This is ideal in promoting Malaysia as a safe haven to foreign investors.