News: HOC-MAPEX 2019 To Offer Over 17,000 Homes For Klang Valley

Apr 17, 2019

A total of 72 property developers are set to showcase over 17,000 residential units, which are valued at over RM146 million, at the Klang Valley Home Ownership Campaign – Malaysia Property Expo 2019 (HOC-MAPEX), reported The Edge.

Participating developers include Gamuda Land, Eco World Development Group Bhd, SP Setia Bhd and Paramount Property.

The campaign will also see seven participating financial institutions – namely, Maybank, Hong Leong Bank, Public Bank, Hong Leong Investment Bank, CIMB Bank, United Overseas Bank and RHB Bank – offer financial services to homebuyers.

Read More: What A First-Time Home Owner Needs To Know About Downpayments

MAPEX organising chairman Datuk Ng Seing Liong said it is the first time that seven financial institutions will take part in a property expo and hopes that “more banks and financial providers will continue to support our endeavours going forward”.

“This is a sold-out event as there were many property developers who approached us to have a booth at the event but we do not have the space to accommodate,” he added.

Meanwhile, Real Estate and Housing Developers’ Association (REHDA) president Datuk Soam Heng Choon is optimistic of achieving the RM3 billion sales target for the national Home Ownership Campaign (HOC).

Buyers who acquire properties under the HOC will be entitled to various incentives, including stamp duty waivers Memorandum of Transfer (MoT) covering properties below RM1 million and a reduction of one percent for properties valued at RM1 to RM 2.5 million to three percent from the current four percent. Loan agreements for homes priced up to RM2.5 million will also be exempt from stamp duties.

Open for sale to Malaysian home buyers including first-timers, HOC properties include both under construction or completed properties.

To run from 26 to 28 April, the HOC-MAPEX will held at the Mid Valley Exhibition Centre (MVEC) in Kuala Lumpur.

 

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Jessie Chen
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GS Realty Sdn. Bhd.
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