Property Malaysia

Kuwait Finance House (Malaysia) Bhd (KFH), the financial institution looking to invest in the Malaysian property market, has obtained the greem light from Bank Negara Malaysia to launch the KFH Musyarakah Mutanaqisah Home & Property Financing-i, a new Islamic financing product, based on the Syariah concept of Musyarakah Mutanaqisah (diminishing partnership) and Ijarah (leasing).

According the a report,

In a statement on May 8, KFH, which is the country’s first foreign Islamic bank, said the financing was a form of diminishing partnership contract, where the customer and the bank jointly purchased and acquired the property. The property is then leased to the customer on monthly rentals, which are paid by the customer and applied towards increasing their ownership until full ownership.

KFH executive director Salman Younis said the facility would be made available initially for properties in which KFH had invested in. He said one such property was the Pavilion Kuala Lumpur project at Jalan Bukit Bintang.

The Pavilion, touted as the ‘last piece of prime property in the golden triangle’, is the first project that KFH has invested in.

For further reading:

Kuwaitis Looking to Invest in Malaysian Property
Pavilion KL to have retail sales of RM1.56b in 2008

You’d think most city folks would have earmarked 17-19th March for 3 reasons - the Formula 1 Grand Prix in Sepang, MATTA Fair in PWTC and the ever welcome school holidays.

But there’s another event going on as we speak (or write). The 2006 Home Ownership Campaign, at the KL Convention Centre in KLCC. What? Another one, you say? That’s right. In the past one month, there has been the Malaysian Mega Property Showcase and MAPEX (KL).

It’s on from 10am to 9am, entrance is free.

They’ve the usual corporations participating, you can see the full list here. For more details, check out this page by the organisers, SK Brothers Realty.

Local real estate agent SK Brothers Realty are organizing an exhibition in what they bill as ‘Grand Raya X’mas Home Ownership Campaign 2005′ (that’s what it says on the website!).

In a report in the News Straits Times,

So far, 35 developers, four banks and a number of home improvement firms have committed their participation in HOC, which is the 12th organised by SK Brothers.

Its chief executive officer Charlie Chan said the campaign is expected to draw thousands of visitors in view of the prevailing low interest rates offered by the country’s financial institutions and the wide variety of choice properties available.

Details are as follows (you can get more info from their website here)

Mid Valley Exhibition Centre, Kuala Lumpur
Fri, 9th Dec - Sun, 19th Dec 2005
10.00 am to 9.00 pm
Hotline: +603-7874 6888

There will also be some property and investment related talks during the exhibition.

(by the way, did you know we also have a short listing of some real estate agents in our website here?)

Some readers have requested for a directory of real estate agents in Malaysia, so we have listed some of the ones we know and have dealt with, mostly including the big ones around. Please be reminded that there are MANY, MANY more agents out there, this list is NOT comprehensive or represent ANY sort of preference.

We are NOT affliated to any one of them, it is just a quick reference for those who need to find one or get their contacts.

If any of you know any major ones missed out here, or want to point out an error, please leave a comment.