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We continue to focus on Melaka because it has one of the lowest property overhang nationwide. The state’s real estate sector is healthy.” Richard Melaka has seen positive economic growth, thanks to the state government’s push for economic and social development in areas such as industrial, housing, tourism and trade. While efforts have been stymied somewhat due to the pandemic, in the longer term, the spillover effect from concerted efforts will create more jobs, increase the population and bolster the purchasing power of the people. Ultimately, this will benefit all economic sectors, including property. Teladan Setia, a prominent property developer in Melaka that was established in 1997, is determined to be part of the state’s growth by contributing to the housing needs of the local population. Established by the late Datuk Teo Poh Boon, the firm is now managed by his son, managing director Richard Teo Lay Ban.

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