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Datuk Teo Chiang Quan PETALING JAYA: The Malaysian property industry has lost an icon in Datuk Teo Chiang Quan, who passed away on Monday due to complications from an unexpected illness. To various property players and consultants, the Paramount Corp Bhd chairman and executive director will always be remembered as a mentor, a gentleman and his passion for the industry. Housing and Local Government (KPKT) Minister Datuk Zuraida Kamaruddin said Teo was an icon among Malaysian property developers and led Paramount Corp to great heights. “Despite his success, Teo did not forget to contribute back to the country and community. ....
Apart from having a massive economic and environmental impact, the Covid-19 pandemic has radically changed people’s lives. Many have had to adapt to the new normal and living through lockdowns. This has led to homes becoming much more than just a space to live in. City & Country conducted a survey at the end of last year to find out whether the Movement Control Order (MCO) has had an effect on homebuyers’ preferences for example, the size and location of the property when it came to their next purchase. The results were published in our Nov 23 issue. In this issue, we are revisiting the results of the same survey and taking a closer look at whether buyer preferences have shifted from landed to high-rise properties, the factors that affect their housing choices, and whether they would be more open to renting rather than buying houses post-MCO. ....
While patronage-reliant property sectors such as hotel and purpose-built retail were severely battered by the Covid-19 pandemic, the industrial sector continues to be the bright spot in the otherwise gloomy real estate market, said CBRE | WTW group managing director Foo Gee Jen during the virtual press launch of the property consultancy’s Real Estate Market Outlook 2021 report, titled “Restart the Uneven Recovery”, on Jan 25. According to Foo, regional logistics and warehousing will be a primary prospect for the sector in the long term. “The growing demand for last-mile delivery facilities is in line with the expansion of e-commerce and the expectations of an increasingly sophisticated market,” he said. ....
At the launch of Rahim & Co’s 2020/2021 market review earlier this week, Rahim & Co real estate agency chief executive officer Siva Shanker said the recent spike in Covid-19 cases has pushed all hopes of a strong market recovery to 2022, at best WITH the recent spike in Covid-19 cases, any projected recovery that had been slated for the local property market for 2021 will likely have been deferred. However, that is not to say that there aren’t any opportunities to be tapped in a soft property market. At the launch of Rahim & Co’s 2020/2021 market review earlier this week, Rahim & Co real estate agency chief executive officer Siva Shanker said the recent spike in Covid-19 cases has pushed all hopes of a strong market recovery to 2022, at best. ....