By Khairul Khalid
After a challenging 2015, year 2016 will be a terrible year for the property industry before things pick up again, said property consultant Gavin Tee.
“In 2016, the country will go through its worst market performance in the last eight years.The property market in Malaysia will start to come out of the doldrums and hit its peak between 2018 and 2020, after which the market will settle into a matured phase between 2025 and 2030,” said Tee who is founder of property consultants Swhengtee Group.
Tee was speaking at the signing of a Memorandum of Understanding (MOU) with online portal PropertyGuru and Chinese language newspaper Sin Chew as partners for Swhengtee’s property expo next year.
“We are happy to have PropertyGuru and Sin Chew as partners for the Swhengtee 9th Real Estate Investment Expo KL in 2016. We are targeting to have a heavy traffic of visitors and investors for the event.
“To achieve this, we have spent a substantial amount on advertising to promote the event, such as prominent billboards on major highways in Kuala Lumpur,” said Tee.
Tee will also be talking at the Swhengtee’s 9th Annual Property Forecast Talk 2016 which will be held simultaneously with the property expo between Feb 26 and 28 next year.
The three-day property expo will take place at the Mid Valley Exhibition Centre in Kuala Lumpur. It is organised by the Swhengtee Group in collaboration with Real Estate Malaysia and Asian Property Review magazines.
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