According to the organising chairman of Malaysia Property Exhibition Penang (MAPEX), Mr. Ng Chin-U, he expects a total sales of over RM130 million within a 3 day MAPEX show in Penang. MAPEX Penang will be held on 26th September to 28th September at the SPICE (Subterranean Penang International Conference and Exhibition Centre). He said that the September one would be the second one. The reason why they are holding it for the second time is due to the huge demand for it. The one in February recorded property sales of RM130 million. He urged buyers still hunting for their dream homes to visit Mapex Penang because this is a fair featuring mostly residential properties with prices from RM200,000 to RM 15 million.
The participants list include Eco World Development Sdn Bhd, Asas Dunia Bhd, MTT Properties and Development Sdn Bhd, Setia Promenade Sdn Bhd, IJM Properties Sdn Bhd, Chong Co Sdn Bhd, Sunway Grand Sdn Bhd, Ivory Properties Group Bhd, Tambun Indah Land Bhd, Tropicana Macalister Avenue Sdn Bhd, Palmex Industries Sdn Bhd, Inspirasi Elit Sdn Bhd and Plenitude Bayu Sdn Bhd. Looking at the list, I think it covers many different types of projects and in many areas in Penang nonetheless. I know a few are in mainland and there’s one in Macalister road. 🙂 Of course, also the Penang World City, the Balik Pulau integrated development, Relau / Sg. Ara, The Light and many more.
I love property fairs. I always think this is a good place for me to have a feel of the actual demand in Penang. In the latest statistics from NAPIC. Despite KL, JB market transactions going down by double digit numbers for Q1 2014 versus Q4 of 2013, Penang property market transactions actually held steady! Something unexpected for me. You can read it here: Every major property market dropped, Penang stayed steady? I seriously think I will drive down to Penang for a peek at what the market has to offer, especially when it is now just few months away from GST. Maybe I just drop by the booths which offers free lattes. Haha. Just joking. Personal encouragement, go take a look.
written on 2nd Sept 2014
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I don’t think the target is reachable; during the Q4 2013, everyone is rushing to avoid the RPGT increment from 15 to 30% max, a lot of transactions then but now most of the property brokering firms are complaining of the drop in sales volume by many folds. If the target (RM130 millions) is reachable then some of the sales must have been forward dated to September to enjoy the goodies offered.
If there is a bet on whether the sale target is achievable without any hanky panky dealings, I will put 90% of my money onto “non achievable”