GEORGETOWN, May 22 – The first member’s night appreciation dinner has been held by FIABCI Malaysia: Penang Branch today at Gurney Paragon Mall. There were attending dinner along with FIABCI Malaysia: Penang Branch’s chairman, Mr. Khor Siang Gin was with the Penang State EXCO Member, Yang Berhomat Tuan Jagdeep Singh Deo a/l Karpal Singh.
The purpose of the members; night appreciation dinner was to faster relationship amongst the industry players, and at the same time provide a platform for them to discuss the issue faced in recent time. It was also good opportunity for the FIABCI members to reach mutual agreements on certain issues in relation to the state’s housing and real estate industry.
It is also with hope that through the gathering, the industry players could voice out their concerns over the development of the housing policy in Penang to the state government, in order for the government to review the current policy. Meanwhile, the Real Estate and Housing industry has been waiting to see how it will impact the industry after been two months since the Goods and Services Tax (GST) has been implement in Malaysia.
“On a positive note, the recent figures that I have obtained from NAPIC seem to indicate that there was a positive growth in the number and value of residential property transactions in Penang from the year 2013 to 2014, as compared to a contraction from 2011 to 2013. In the same time, the property industry in Penang was also growing up year by year too,” said Yang Berhomat Tuan Jagdeep Singh Deo a/l Karpal Singh.
The Penang State Government also hopes that its competent, accountable and transparent administration together with its motto of delivering a cleaner, greener, healthier and safer Penang which will make Penang remain attractive place to invest in such as a sustainable real estate and housing industry.
“We are also confronted with issues which are controlled by the federal government namely problems in getting spprovals for Advertising Permit & Developer License (AP/DL) and BOMBA clearance with will affect the speed development in our state. We also believe that there is a need to review the current development constraints and our local guidelines in Penang Island,” said FIABCI Malaysia: Penang Branch’s chairman, Mr. Khor Siang Gin.
“Together we need to face and address the challenge to the future development for developers-create and generate enough demand comparatively and continuing to attract local and foreign investment into the island to record sustainable economic growth. On the bright side, we do expect Penang market to remain healthy and consistent for being a favourite destination. I truly believe by co-operation together, we can achieve our goal,” he added.
