Properties are sizzling hot in KL, Penang and Johor. KL and Penang are already at the forefront where prices have escalated tremendously. Iskandar in Johor is catching up with a slew of developments.
Almost all property agents eye Sibu as a potential place to promote their products. I am not particularly sure of the reason, but it may have something to do with Bank Negara's report years ago saying that "Sibu sat on piles of cash". In other words, Sibu was cash-rich!
UEM Land has plan to come to Sibu to promote some high-end properties in Iskandar of Johor. The Bank Negara's report must have come to the attention of this listed company.
Properties in Penang are doing extremely well. Lim Guan Eng won back a lot of confidence of investors ever since he took over the administration of Penang state. Guan Eng is an alumnus of Monash University, Clayton, Victoria. When I was in Year 3 of Faculty of Economics & Politics, Lim Guan Eng was in Year 1 of the same Faculty. At that time we knew him by Lim Kit Siang's son only.
The picture shows the construction site of Wellesly Residences in Butterworth, Penang.