KUALA LUMPUR, Feb 16 — Malaysians need not fear a property takeover by investors from China, Tan Sri Abdul Rahim Abdul Rahman of the real estate consultancy firm Rahim & Co said today.
Instead, he said the Chinese investment is “good” for the local market which has been seeing a drop in sales since last year.
“We need overseas investments. When it was announced that Chinese investors were coming into Bandar Malaysia, I think there is nothing to worry,” he told a press conference after revealing Rahim & Co's Property Market Review for 2016 and 2017.
“I think this is good for the market,” he added.
Certain parties were reported to have expressed uneasiness following the high-profile investments from China nationals in not only Malaysian commercial projects but also residential developments.
But the Rahim & Co founder and executive chairman said these fears were misplaced and politicised.
Recently former Prime Minister Tun Dr Mahathir Mohamad criticised the influx of Chinese investments in Forest City, a new township being built in Johor that is reported to have a 70 per cent ownership by citizens from the People’s Republic to date.
Chinese firms had also bought into major projects such as Bandar Malaysia and the East Coast Rail Link in recent times.