Carrying the theme “Home Ownership Through Smart Financing”, the Malaysian Property Exposition (Mapex) 2016 will embark on a two-pronged strategy for its second major campaign of the year.
In addition to the national Mapex which will be held at its regular hunting ground, the Mid Valley Exhibition Centre (MVEC), there will also be a separate Bumiputera Property Expo (dubbed Bumi Mapex) that will take place at the Shah Alam Convention Centre in October.
Organised by the Real Estate and Housing Developersʼ Association (Rehda), the Mapex committee headed by the association’s past president Datuk Ng Seing Liong announced that the inaugural Bumi Mapex will take place on Oct 7-9, two weeks prior to the national Mapex scheduled for Oct 21-23.
Ng said that 21 exhibitors have already signed up for the event, but more are encouraged to do so as it provides an ideal platform to showcase the high-quality bumiputera units that are still available for the taking in an environment that specifically focuses on this target market.
“The Bumi Mapex is part of Rehda’s effort to gather available units for bumiputeras with attractive discounts in one exposition. Hopefully, this will assist bumiputeras who are still in search of their dream homes as the expo will also feature well-known property experts such as Faizul Rizuan, Mohd Ali Majis, Dr Azizul Azli Ahmad and Ahyat Ishak as speakers,” he said.
Ng said the expo will not just be limited to “Bumi Lot” properties, but also include properties on Malay reserve land and even regular properties located in areas with a high population of bumiputeras.
Mapex committee member and Rehda Selangor chairman Zulkifli Garib pointed out that in the current market slowdown, bumiputera lots still make up much of the unsold stock at various developments. An opportunity such as this provides a good platform for both sellers and buyers, as targeted home seekers will be drawn to
an event that provides a wide variety of options.
On the national Mapex to be held at the MVEC, Ng said the three-day event is expected to draw a crowd of 40,000 visitors and potentially match the RM300 million in sales generated in the first Mapex 2016 held in April.
“We are aware that the market is slow, that is why we are assisting buyers as well as developers by bringing together a wide range of property selections with attractive promotions under one roof. We believe there is still strong demand among would-be house buyers, which is why an event like Mapex is important, because it helps them to make informed decisions in these uncertain times,” he said.
Ng reminded that on such occasions, developers too are eager to sell their properties, so buyers can look forward to attractive prices and financing deals.
On that count, he said five major financial institutions have already signed up to participate in the upcoming Mapex, but he also encouraged more to do so by October.
“Financing is one of the biggest factors affecting buyer appetite at the moment and it will be good to have greater participation from banks, as this will allow them to promote their various products and financing solutions as well as provide sound advice to potential buyers,” Ng said.