News & Articles M’sia’s property market to see foreign interest
M’sia’s property market to see foreign interest
21 Jul 2015
Malaysia’s property market is poised to see interest not only locally but from foreign parties capitalising on the weak ringgit, said global property consultant, Knight Frank Malaysia.
In a statement today, managing director, Sarkunan Subramaniam, said this was evidenced by recent activities in major commercial property investment transactions such as the acquisitions of Integra Tower and DoubleTree by Hilton among others.
“With the Fitch Rating maintaining Malaysia’s long-term foreign currency issuer default rating at ‘A-‘ and local currency at ‘A’ and added with an overall outlook revised from the previous negative rating to stable now, the ringgit is expected to strengthen in the long run and creating the absolute right time for foreign investors to be looking at Malaysia,” he said.
He said the company has appointed James Buckley as executive director for Capital Markets.
The appointment indicated the strategic importance of capital markets in Malaysia for the group’s business, he said.
Meanwhile, Buckley said, Malaysian corporations were not new to overseas investment, but over the last five years, their investments, particularly in the matured, transparent and accessible markets of the UK and Australia, had continued to rise.
“Knight Frank has advised on over US$3 billion (RM11.4 billion) of investment transactions across Asia-Pacific and US$38 billion of commercial sales and purchases globally over the past 12 months,” he said.
In a statement today, managing director, Sarkunan Subramaniam, said this was evidenced by recent activities in major commercial property investment transactions such as the acquisitions of Integra Tower and DoubleTree by Hilton among others.
“With the Fitch Rating maintaining Malaysia’s long-term foreign currency issuer default rating at ‘A-‘ and local currency at ‘A’ and added with an overall outlook revised from the previous negative rating to stable now, the ringgit is expected to strengthen in the long run and creating the absolute right time for foreign investors to be looking at Malaysia,” he said.
He said the company has appointed James Buckley as executive director for Capital Markets.
The appointment indicated the strategic importance of capital markets in Malaysia for the group’s business, he said.
Meanwhile, Buckley said, Malaysian corporations were not new to overseas investment, but over the last five years, their investments, particularly in the matured, transparent and accessible markets of the UK and Australia, had continued to rise.
“Knight Frank has advised on over US$3 billion (RM11.4 billion) of investment transactions across Asia-Pacific and US$38 billion of commercial sales and purchases globally over the past 12 months,” he said.
Source: KINIBIZ