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Malaysian firms to invest US$1.5b in China via first Belt & Road Property Development Forum

Malaysian firms to invest US$1.5b in China via first Belt & Road Property Development Forum

24 Oct 2017

Malaysian companies are expected to invest at least US$1.5 billion (about RM6.35 billion) in China real estate via the ASEAN-China Economic and Trade Promotion Association’s (ACETP) first Belt & Road Property Development Forum in China. The forum is expected to attract about 300 property companies from China and Asean countries.

ACETP is hosting the forum in Sichuan province’s capital Chengdu in collaboration with Chinese data company, Chengdu Realty Technology Corp Ltd. The forum, which will take place on Jan 13-14, 2018, aims to promote cooperation between ASEAN countries and China under the Belt and Road Initiative.

In Malaysia today, ACETP Malaysia president Datuk Ng Kek Kiong said the forum will focus on project and business match making through discussion of policy analysis, investment and financing channels, besides cooperation strategies.

“The summit is expected to result in at least US$1.5 billion worth of property investments in China, in terms of gross development value, from 20 handpicked Malaysian companies,” Ng said.

He was speaking to reporters here today after the Belt & Road Property Development Forum’s memorandum of understanding (MoU) signing ceremony. Ng signed the MoU on behalf of ACETP while Chengdu Realty Tech Corp was represented by its chairman Luo Hongwei.

Ng said Malaysian investments in China can be streamlined and made simpler through the professional supply of comprehensive real estate data on policies, land bank, supply, transactions, product types, customer database by Chengdu Realty Tech Corp.

Source: The Edge Markets