BY LEE YAN LI
lylee@thestar.com.my
Kan (fifth from left), Chong and the IJM team at the Star Property.my Fair 2016 Premium Partners Announcement Ceremony.
IT has been challenging time for both purchasers and developers. Bank Negara Malaysia (BNM) recently said there was a “supply mismatch” between buyers’ and developers’ expectation of house prices.
According to BNM, houses priced up to RM165,060 would be affordable to Malaysians with an average median income of approximately RM5,000.
For developers, affordable housing units meant properties priced below RM500,000.
This has resulted in a situation in which many homebuyers faced difficulties in securing a mortgage, which prompted the developers to roll out more programmes and products that could meet the market’s demand.
IJM Land managing director Edward Chong said its Free Stay@No Pay campaign is aimed to address the public’s concern on their ability to pay the instalment in uncertain economic times.
The programme offers an instalment-free scheme up to 12 months with a 0% interest instalment scheme for up to 36 months.
IJM’s ongoing and upcoming projects include Waterside Residence at Penang, Bandar Rimbayu at Shah Alam, Seremban 2 and Sebana Cove at Johor.
Chong said the Johor project is mainly catered to the oil and gas market, and although sentiment is less than ideal at the moment, IJM believed that the area has a huge potential in the long run.
Kan (sixth from left), Lim and the Ekovest team at the Star Property.my Fair 2016 Premium Partners Announcement Ceremony.
Ekovest Bhd managing director Datuk Seri Lim Keng Cheng said besides working with a few big partner banks to facilitate the loan application process, Ekovest is also planning to launch an affordable housing project in Setapak.
For Ekovest’s upcoming project, the EkoTitiwangsa of the Kuala Lumpur River City development project will soon be launching its second and third block by the end of this year.
Lim pointed out that this residential project is to cater to the more high-end market segment, and that the master plan of KL River City has emphasised an integrated transport concept, which included public transport such as MRT, monorail, and LRT, as well as cycling track, walkway and water taxi.
Ekovest Bhd and IJM Land have been officially announced as the premium partners of StarProperty.my on April 28, and will be joining most upcoming StarProperty.my fairs this year.
The StarProperty.my Fair 2016 Premium Partners Announcement Ceremony was officiated by Star Media Group Bhd chief operating officer Calvin Kan. Also present were chief revenue officer Lim Bee Leng and StarProperty.my assistant general manager K.C. Tan.
The upcoming fairs will be held at Johor Bahru City Square (July 22-24), Nu Sentral (Aug 15-21), Sunway Putra Mall (Aug 26-28), Publika Mall (Sept 26-Oct 2) and Kuala Lumpur Convention Centre (Nov 18-20).
For more information, visit fair.starproperty.my.
