Looking forward to stronger growth on positive sentiment
Posted on | April 16, 2007
By THE STAR
NOT many people are aware that Malaysian real estate service providers and consultancies have been involved in overseas projects.
From designing to developing and constructing signature projects, the local industry practitioners have now added marketing and valuation to their job portfolio.
Architects, surveyors and developers are exporting their services to other countries around the globe.
One such company is Rahim & Co, which has built up an impressive list of overseas assignments.
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Its list of credentials includes the sale of real estate projects in Britain and Australia and the valuation of a boutique hotel in London, the World Trade Centre in Melbourne and 340ha resort land in Bintan Island, Indonesia.
It has also undertaken projects in Sri Lanka, Vietnam and Indonesia.
The company is associated with Savills, an international property group with a global network of 244 offices covering the Asia-Pacific region, Europe, the Americas and South Africa.
Rahim & Co’s range of services covers valuation, real estate agency, research, and facilities and property management.
The company has 15 branches nationwide, with 250 staff members. The network will soon be expanded with the addition of three branches in the Klang Valley, Penang and Ipoh.
With positive sentiment in the property sector, the company can look forward to stronger growth.
According to Rahim & Co Real Estate Agents Sdn Bhd managing director Robert Ang, the business outlook for the real estate agency remains positive for the next few years.
Plans are afoot to increase its staff strength to support its expanding agency services nationwide. In the past three decades, its staff strength had grown from just three to 19 now, while billings jumped 30-fold.
“The Klang Valley and other major cities will be the most active markets with increased interest in the residential, commercial and retail sectors,” Ang said.
Rahim & Co Chartered Surveyors Sdn Bhd director of valuation services Chee Kok Thim said the exemption of real property gains tax effective April 1 and the roll-out of Ninth Malaysian Plan projects would increase activities in the property and construction sectors.
The growing property transactions and land acquisitions by the Government for the implementation of projects will translate into more valuation jobs for the property consultancy fraternity.
Chee said the Iskandar Development Region in south Johor, with many incentives provided by the Government, would spur greater growth and economic activities in the region.
“More jobs will be created and more housing, industrial and commercial facilities will have to be built to accommodate the rising population and activities,” he said.
Rahim & Co Research Sdn Bhd director of research Sulaiman Saheh said an increasing awareness of the importance of research and feasibility studies and cross-border exchanges augured well for the business.
“We plan to explore the big markets in the region and are benchmarking the performance of Malaysian properties (especially commercial products, i.e. purpose-built office and retail complexes) against other Asian countries,” he said.
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