Property Boom Still Intact, More Private-Public Collaboration Needed

REHDA National Council Member and Group MD of Bukit Kiara NK Tong, talks about issues pertinent to REHDA such as the low level of foreign investment in real estate, the role that the housing and property sector plays in the overall economy, household debt, NPLs, the government's "high impact strategic developments" such as the KLDIF, RRI Land in Sungai Buloh and Warisan Merdeka, urging the Government to lock arms with private property developers in
the planning and implementation of these high impact developments and its hopes for a more level playing field.

He also discusses issues in the property sector right now such as the property mega-mergers (UEM Land-Sunrise, IJM Land-MRCB and the Sunway Group property mergers), the reasons behind them, the next move for unmarried developers, and whether he expects more consolidation.

He also discusses whether there is a property bubble, whether there are parallels to Eurozone and the US in terms of property speculation (cheap liquidity and over-leverage issues) and whether developers should be less aggressive in launches. He also discusses Dato Michael Yam's views is that there is no bubble, whether from the affordability standpoint, national house price trend or supply chart.

As for his Bukit Kiara Property company, he talks about his Verve Suites and psf values in terms of whats driven it and whether it is sustainable at these levels, and his views that his business is a marathon and what stage of the race he is at now. He also responds to an OSK report that the suggests the property market is in the midst of a supercycle and that in future there will be a shift to medium-level housing.

He also discusses his Vinaland Fund, a real estate investment fund listed on AIM London, and investing in Vietnam and his role At local fund manager, KSC and how bullish he on the Malaysian stock market, as well as his role at Accelera Ventures, a boutique Pacific Rim growth fund in Hong Kong, which focuses on Real Estate and Private Equity.