KUCHING: Sarawak may not be the most obvious property investment hotspot but it is certainly developing into one.
This was the key message by Chris Tan, winner of the Prestige ‘Top 40 under 40’ Top Outstanding Young Malaysian Award (below 40 years of age).
A man who wears many hats, a lawyer by profession, an entrepreneur, a copywriter, radio DJ, an author, just to name a few, Tan is the founder and managing partner of Chur Associates, a KL-based boutique legal practice which thrives in delivering business friendly solutions for its clients, with its niche positioning of ‘Everything Real Estate’.
Tan was once the president of Fiabci (International Real Estate Federation) Young Members Committee and recipient of Fiabci’s Medal of Honour in 2010, one of the youngest recipients in the history of Fiabci.
In addition, Tan was part of the technical committee under the National Economic Action Council of the Prime Minister’s Department to devise strategies to stimulate Malaysia’s property sector, responsible for the blue print of the Malaysia Property Inc. established as the very first public-private initiative. He was also appointed as one of Iskandar Malaysia’s ambassadors, playing a significant role in Iskandar’s campaign in moving forward.
Regularly invited to deliver papers on real estate issues locally and internationally, Tan will be delivering an exciting ‘Grow Your Money’ investment seminar in Sibu tomorrow (April 4) at 6pm and at 3pm this Saturday and Sunday (April 5 and 6) at RH Hotel, Sibu (Sunflower Room, First Floor).
Tan told The Borneo Post and See Hua Daily News recently that to a property investor, a ‘hidden’ property hotspot is always better than popular hotspots where there may be ‘overheating’.
“Sarawak is full of natural resources and certainly is the next frontier in the local economy. With the renewable energy hub in the Sarawak Corridor of Renewable Energy (SCORE) area, coupled with its huge oil and gas reserves, a long coast line in the west, increased international connectivity, fascinating tourism resources and ethnicity mix and heritage as well as the caves and the rivers, Sarawak is an emerging economic powerhouse,” he pointed out.
Tan also noted that for Sarawak, the gradual liberalisation from its previous Sarawakian centric policy has opened up the market to not just fellow Malaysians but the world.
“That’s why you see accelerated growth in Sarawak’s key growth areas such as Kuching, Bintulu and Miri. With Sarawak’s political stability, SCORE developments which essentially encourage foreign investment, migration of workforce into Sarawak and enhance the branding that Sarawak is the desired investment destination, and other favourable conditions, we are not only looking at local property buyers – now, Sarawak is also in the radar of international property buyers. The recipes for success are definitely there,” he explained.
Tan advised that property investors should not consider price as the only determining factor in making their investment choice.
“We also need to look at the developer. Invest in a branded developer, one with reputation and good track record. A branded developer has obviously done their research on matters such as the location and product, and as such, has done part of the work for you. Sometimes, we need to be prepared to pay a bit more for such ‘risk mitigation’,” cautioned Tan.
Tan also encouraged financial leveraging and cash flow planning.
“Take your time in examining the packages offered in detail. Make sure you are comfortable with the disbursement of your own fund,” advised Tan.
“If you are familiar with the know-hows of property investment, you will find that it’s a good way to hedge and grow your money. Many have learned the ropes, and you can too,” Tan said.
- THE BORNEO POST
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