Promoting affordable housing through smart financing with REHDA…
The Real Estate and Housing Developers’ Association (REHDA) is proud to present its flagship and signature property exposition, MAPEX yet again this October. For the first time in REHDA’s history, it also promoted two MAPEX expos end-to-end. However, this time around its new MAPEX, aptly known as Bumiputera Property Exposition or Bumi MAPEX, is an expo that caters exclusively for the Bumiputera property market. The inaugural Bumi MAPEX was held at Shah Alam Convention Centre (SACC), Selangor from 7-9 October 2016. The following two weeks thereafter, MAPEX 2016 made its second debut this year from 21-23 October 2016 at Mid Valley Exhibition Centre (MVeC), Kuala Lumpur. Thousands of visitors and shoppers thronged both expos, with hundreds of participating developers exhibiting their latest property developments and niche residential properties.
The current property market slowdown and stagnation has invariably caused potential home owners and prospective house buyers to postpone their plans to purchase their first home, let alone their dream home. In the wake of the sluggish economic climate, most Malaysians would adopt a ‘wait-and-see’ attitude or approach towards future property purchases and transactions. REHDA believes in taking the proactive stand or measure in assisting buyers in obtaining the best home financing solutions via collaborations as well as smart partnerships with real estate developers. Developers would provide the relevant financial assistance to house buyers in securing much needed housing loans for home purchases. Some developers have gone one step further by dishing out home loans to purchasers upon successful applications. A plethora of options and choices are available all under one roof at MAPEX. Developers have an excellent platform to market their products, whilst buyers tend to look forward to reputable developers offering quality and premium houses with all the necessary criteria to meet their needs and requirements. MAPEX is by far the longest running and largest property expo!
Apart from promoting the government’s agenda of affordable homeownership to Malaysians, REHDA also takes pride in providing financial assistance, via selected property developers and banking institutions, to enable house buyers to acquire their first home. Despite the current property downtrend and current challenges faced in the local real estate market, REHDA will continue to espouse its core value or principle of providing deserving citizens with a home to call their own. The feature highlight and main attraction this time around is a host of rebates, discounts and freebies for first-time homebuyers who sign up during the event.
“Taking into account the importance of affordable housing, REHDA is proud to continue its partnership and collaboration with RUMAWIP, Rumah Selangorku and PPA1M whose participation in MAPEX continues to benefit the public and serve the needs of the people,” according to Datuk Ng Seing Leong, who is also the past president of REHDA, as well as the organizing chairperson of MAPEX 2016.
Following Datuk Ng’s warm and welcoming speech, it was the incumbent president of REHDA’s turn to address the audience in attendance. During his keynote address, Datuk Seri FD Iskandar bin Tan Sri Mohamed Mansor talked about various issues encountered by house buyers as well as property investors. For budding purchasers, a myriad of financial instruments and banking institutions are widely available to assist them in obtaining personal home financing. Even real developers are providing end-user financing for those who qualify or are eligible. For prospective investors, there is no better time to invest in properties, as real estate investment often serve as timeless hedge against economic inflation even during financial turmoil and property slumps. “Moving forward towards a more progressive real estate market, we at REHDA are hoping that a more uniform or unilateral approach to implementing the National Housing Policy be taken into account. Among the key aspects encompassed are minimal housing standards, accessibility to real estate financing, the balance of demand & supply at the source, as well as a general reduction in development costs,” he reiterated.
Taking centrestage at MAPEX 2016 is the eagerly awaited and much anticipated opening ceremony by the Minister of Urban Wellbeing, Housing and Local Government, YB Tan Sri Noh bin Haji Omar, who received enthusiastic applause from the participating crowd. In conjunction with the Bajet 2017 announcement by the Prime Minister recently, which has been widely regarded as a “people-centric” national budget, the minister assures the rakyat that the government was fully committed with its national affordable housing agenda with the support of various government agencies, low-cost housing projects as well as home financing schemes – i.e. JPN, PPR, PR1MA, PPA1M, MyHome, BTS (‘Build-Then-Sell’), etc.
Numerous initiatives by the federal government such as MyFirstHome Deposit Financing Scheme or “MyDeposit” have begun to bear fruit. With a start-up of RM200 million in its funds, any borrower using this financial service is able to get a maximum of 10% deposit or RM30,000 off their first home. As of 30 June 2016, a total of successful 1,903 applicants from an overwhelming 6,298 applications via the National Housing Agency (JPN) have already benefitted from this special home financing scheme. In addition, some RM500 million has also been allocated for the promotional purposes of the unique and innovative IBS (Industrial Building System) methodology as being part and parcel of the Government’s long-term plan and meticulous effort to encourage the building of more affordable homes.
“Affordable housing has always been the crux of this ministry. To date, PR1MA has delivered a total of 500,000 units of affordable homes; SPNB with 100,493 units, state governments contributing some 128,743 units, as well as a further 150,000 units from the private sector. In reality, there is generally a mismatch between buyers and the type of homes built by housing developers, as well as the difficulty in obtaining personal financing from banks. Last but not least, it has been the Prime Minister’s life-long dream in fulfilling his personal mission of “1 Million Affordable Homes for Malaysians” by the year 2018.” – YB Tan Sri Noh bin Haji Omar, Minister of Urban Wellbeing, Housing and Local Government Malaysia.
In retrospect, homebuyers should take advantage of the property exposition, and grab this golden opportunity to be a part of MAPEX. REHDA’s noble and concerted efforts have gathered together over fifty real estate developers offering the best homes in a single hub. It still remains REHDA’s ultimate goal for MAPEX 2016 in helping Malaysians secure their dream homes. We are obviously spoilt for choice when it comes to properties, specifically residential properties. Among the many exhibitors featured during the 3-day event include heavyweight developers the likes of Naza TTDI Group, Mah Sing Group Berhad, MKH Berhad, WCT Land, IJM Land Berhad, Land & General Berhad, Sunsuria, UEM Sunrise, Aspen Group, Emporis Sdn. Bhd., Glomac Berhad, Ekovest Berhad, The Colony by Infinitum, Matrix Concepts Holdings, Andaman Property Management, EUPE Bangsar Development, as well as Sincerity Group of Australia. Also featured are government bodies and agencies such as Jabatan Perumahan Negara (JPN), Perumahan 1Malaysia (PR1MA), Perumahan Penjawat Awam 1Malaysia (PPA1M), Rumah Mampu Milik Wilayah Persekutuan (RUMAWIP). The opening ceremony of MAPEX 2016 was successfully graced and officiated by the honourable YB Tan Sri Noh bin Haji Omar, Minister of Urban Wellbeing, Housing and Local Government.
Just three weeks earlier, REHDA had organized its inaugural Bumi MAPEX (i.e. “MAPEX for Bumiputeras”) which is also participated by financial institutions and property-related agencies such as Jabatan Perumahan Negara (JPN), Tribunal Perumahan dan Pengurusan Strata (TPPS), Perumahan Penjawat Awam 1Malaysia (PPA1M), Rumah Mampu Milik Wilayah Persekutuan (RUMAWIP) under the Ministry of Federal Territories, as well as RUMAH SELANGORKU under Selangor Housing and Property Board (LPHS) which offers affordable housing to the general public. Also lined up during the two days were public speeches and fun-fair activities for the visiting crowd as well as the participating audience. The national MAPEX from 21-23 October 2016 at Mid Valley Exhibition Centre (MVeC), Kuala Lumpur saw huge crowds with its extravagant property showcase from over 50 real estate developers, whereby many were also featured during the first leg of Bumi MAPEX held at Shah Alam Convention Centre (SACC) from 8-9 October 2016.
In addition to the numerous exhibiting developers, government agencies and NGOs, MAPEX 2016 is also proud to showcase several prestige figures and esteemed speakers who are highly renowned property experts in their own diverse fields and disciplines. Among the celebrated presenters and respective topics for discussion are Mr. Chua Soo Kok, Project Director of Ekovest Berhad (“What You Should Consider In Your Next Property Purchase”), Dato’ Sri Dr. Vincent Tiew, Managing Director of Andaman Property Management (“Affordable Luxury – Developers’ Future Strategy”), Ar. Perumal Nagapushmam, Eco Green/Net Zero Energy/System Design Architect (“Smart Ways Towards Energy Savings For Your Home”), and Mr. Ishmael Ho, Chief Executive Officer of Ho Chin Soon Research (“Greater KL’s Future: An Integrated Transport Masterplan”), Mr. Chuang Kuang Hong, Manager, Department of Safety & Health, Environment & Quality, Construction Industry Development Board Malaysia (CIDB) (“Introduction to QLASSIC: Quality Assessment System for Building Works”), Mr. Kargayn Tan, Founder, Freemind Works (“Buying Property with No Money Down – MYTH or FACT?”), and Ms .Hong Thang, Founder & Advisor, Rapid Property Connect Sdn. Bhd. (RPC) (“Discover the 18 Years Property Cycle in Malaysia”).
Various fun-filled and family activities are also in store for visitors to the expo – including ‘Spin The Wheel’, Blood Donation Drive, Organ Donation Campaign, among others. They are just some of the ‘Property Talks’ sessions scheduled throughout the duration of the property expo. Exclusive ‘meet-and-greet’ sessions also await participants after each and every session. This is definitely a ‘once-in-a-lifetime’ opportunity to get to know your favourite property gurus as well as inspirational icons – up, close and personal! For additional details and further information, please visit MAPEX: www.mapex.com.my, or kindly contact: firstname.lastname@example.org, or call the hotline: +603-7880 8000. You may also follow MAPEX on Facebook: MAPEX: MalaysiaPropertyExpo; Instagram: MAPEXbyREHDA