It said the Belt & Road Property Development Forum, organised for the first time by the Asean-China Economic and Trade Promotion Association (ACETP) is expected to see participation from about 300 property companies from China and member nations of Asean.
It cited Ng Kek Kion, president of ACETP Malaysia, as saying that the forum would focus on project and business match-making through discussions of policy analysis, investment and financing channels, as well as cooperation strategies.
“The summit is expected to result in at least US$1.5 billion (RM6.3 billion) worth of property investments in China, in terms of gross development value, from 20 handpicked Malaysian companies,” he was quoted as saying.
The forum is scheduled to take place in Sichuan province’s capital of Chengdu on Jan 13 and 14, Ng said after signing on behalf of ACETP, a memorandum of understanding on the forum with Chengdu Realty Tech Corp which was represented by its chairman Luo Hongwei.
He added that Malaysian investments in China could be streamlined and made simpler through comprehensive real estate data on policies, land banks, supply, transactions, product types, and customer database by Chengdu Realty Tech Corp.
Malaysians are not well-known for purchasing properties in China, although Malaysia itself has become a top destination for property investors from China.
Real estate consultant Knight Frank Malaysia reportedly said in August that investors from China’s mainland accounted for most of the property deals in Malaysia by foreigners, which accounted for 35% of all transactions, in the first half of 2017.
This was despite Beijing having restricted overseas property investments, in a bid to limit capital outflows and strengthen the yuan, through rules mainly applicable to private individuals and companies.