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Not just a Talk Shop at the Medan Summit

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The two-day 11th FIABCI Asia Pacific Regional Secretariat Summit that concluded in Medan Indonesia recently was not “talk shop” but a fruitful sharing of relevant information of prevailing real estate situation in participating countries. The summit was officially opened by the Indonesian Minister of Public Housing Bapak Suharso Monoarfa.

Overseas FIABCI members, who made up a quarter of the 200 delegates, came from Australia , South Korea , Singapore , Macau , Thailand and Malaysia . Others are local delegates from across Indonesian provinces.

The Secretariat’s Board Chairman Dato’ Alan Tong, in his opening remarks, said the bonding of members in the region had helped generate business in the real estate industry while the Summit’s Organizing Chairman Rusmin Lawin said Indonesia is poised for growth as it resides in Asia Pacific region which is the growth center in the 21st Century. He is Real Estate Indonesia Sumatera Utara Chairman and has recently been appointed Secretary General of FIABCI Asia Pacific Regional Committee.

From the latest member country to join FIABCI Asia Pacific, Macau ‘s Secretary General Richard Ge shared with delegates about the hidden opportunity there, where property prices have risen at the rate of 50% a year over the past five years and is expected to rise by 30% annually over the next five years.

Moving forward to 2011, Malaysian speaker Previndran Singhe of Zerin Properties pointed out that the “tourist spots” were only icing on the cake leading up to the 19th FIABCI Asia Pacific Real Estate Congress (APREC) 2011 in Kuala Lumpur next October, as there were more to be reaped from the business prospects APREC will generate for those attending.