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Kiara 3 Update

March 24, 2010Article by Ray Withers

Kiara 3 Construction Update

Kiara 3 is scheduled for completion and handover in Q4 2010. The development is currently built up to around the 23rd floor and the basic main structure will be completed within the next few weeks. Please see latest construction photographs below.

Malaysia Economic Update

Southeast Asia’s third-largest economy is estimated to see GDP growth of 5.3% in 2010 and 4.9% in 2011. The growth in GDP will primarily be driven by an export rebound and public investment spending according to the latest CLSA research. [1]

Although the electronics sector faces uncertain demand in 1H10 with US consumer demand unlikely to strengthen convincingly before late 2010. While Asian exporters will continue to be shielded by robust demand from China. [2]

According to CLSA, Bank Negara may be slow to react to inflation while doubts on global demand persist. They expect the first hike to be delayed until July and forecast only a 75bp hike in rates in 2010. [3]

Kuala Lumpur Property Market [4]

The second half of 2009 saw continued optimism in the market with developers re-visiting their marketing plans of their deferred launches. The demand for high end condominiums improved in the second half of 2009 with more enquiries and transactions noted in the market.

An increasing number of developers are now preparing to launch further project in the next six months, in anticipation that the economic conditions will continues to improve into 2010. Prices and rents are anticipated to hold stable in the short term as supply and demand are hovering at equilibrium level.

[1] Eye on Asia Economies 1Q2010
[2] Eye on Asia Economies 1Q2010
[3] Eye on Asia Economies 1Q2010
[4] Knight Frank Real Estate Highlights 2nd Half 2009

Written by: Christopher Chadd


Ray Withers

Ray has over 17 years’ experience in the international property market and bought his own first international property investment back in 2002. Aside from running Property Frontiers, Ray has been involved in residential, hotel, student and commercial property investment and development in both the UK and overseas and co-wrote "Where to Buy Property Abroad - An Investor's Guide". As Founder and Trustee of the Frontiers Foundation, Ray is directly involved with many of its projects to ensure they have a direct and tangible impact in individual communities across the globe. He is passionate about property, travelling, scouting out new opportunities and finding time to spend with his young family.
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