Rosy outlook for property sector

Exhibitors at The Star Property Fair 2009 at G Hotel and Gurney Plaza in Penang were pleased with the huge crowd turnout during the three-day event which they declared a resounding success.

Belleview Group managing director Datuk Sonny Ho said the overwhelming response at his company’s booths was totally unexpected.

“We had, since the fair first started back in 2003, suggested that it should be held at a good shopping mall so as to attract the weekend crowd. But even then, I had not anticipated such a response,” he said.

Ho said the company opened up 50% of its new Bukit Dumbar Residences freehold landed property for sale and would have been happy to sell half and follow up on the rest.

“On the first day itself, we already achieved our expectations in terms of committed sales, and by today, we have achieved our quota,” he said on the last day of the fair yesterday, adding that they also received good response for Phase 2 of their Palmyra Residences.

SP Setia Bhd property division (north) sales and marketing assistant manager Joanne Koay said the company generated good sales and did not mind the venue of the fair as long as the crowd kept turning up.

EUPE Corporation Bhd marketing assistant manager Chris Tan said the crowd at this new venue was slower but of higher quality than at the previous venue at the Penang International Sports Arena (PISA) in past years.

“This turned out well as it provides us a chance to spare more time for potential buyers,” he said.

Blossom Time Sdn Bhd assistant marketing manager Norita Ibarahim said they received more enquiries than expected.

“The response for our The Residences @ Ferringhi Park was good, and some visitors even made the trip to the showhouse in Batu Ferringhi on the spot,” she said, adding that they also received many enquiries about their beachfront condominium project which was open for registration.

Over at the ‘lifestyle’ section, Kitchentech general manager Wilson Yeoh said there was a good flow of people and it was a good chance for them to showcase their products and enhance their value.

Cucina Kitchen & Wardrobe managing director T.H. Tan said the fair was always a good way to advertise and promote their products.

“The crowd is good but the atmosphere is more relaxed, giving us the opportunity to pay attention to our customers.”

A buyer, operations executive Ch’ng Lee Hong, 49, and her husband who only wanted to be known as Lim, 50, made an impromptu decision to buy their dream home in the form of a double-storey terrace house in Belleview Group’s Palmyra Residences project in Balik Pulau.

Ch’ng said she was happy with the layout of the four-bedroom unit with two parking spaces while Lim said he was pleased with the location and trusted the developer.

A buyer who only wanted to be known as Mrs Lau, 38, said she and her husband bought two condominiums, one for their own stay and one for investment.

“We’ll probably stay at IJM Land Bhd’s Platino in Jelutong, while the other unit — Ideal Homes Properties Sdn Bhd’s One World 2 in Bayan Lepas — is for investment,” said the sales manager.

Henry Butcher (Malaysia) Penang director Dr Teoh Poh Huat noted that the visitors to this year’s fair were more affluent, and there was a great deal of interest in subjects pertaining to lifestyle, particularly going by the large crowd attending the health talks.

He said: “People are aware that they need good health to enjoy their wealth.”

Where property was concerned, Dr Teoh said quite a number of new projects attracted some attention, indicating that buyers had been waiting in the sidelines for the right time and opportunity.

The three-day fair, themed Modern Lifestyle, featured over 50 exhibitors occupying some 100 booths at the hotel and shopping complex. - by Star Property

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