| |
| |
| Penang Land Prices Not Likely To Dip, Says Expert |
| |
| The Star - Sunday November 18, 2007 |
| |
| |
| PENANG: The island's land prices are unlikely to drop, even if another economic slowdown happens, said Michael Geh, a senior partner at property consultancy Raine & Horne (Penang). |
| |
| “For the past 10 years, Penang’s land value has been increasing,” he said yesterday when presenting a talk on Penang Property As A Global Asset during the “NCER: Seizing The Opportunities” symposium organised by Abad Naluri Sdn Bhd. |
| |
| He also said it was a misconception to say that there was not much land left in the state. |
| |
| “With NCER, Penang can be a microelectronic hub of excellence, logistics hub in the northern region and has potential for an oil industry spin-off,” he added. |
| |
| He said Penang’s strengths were its friendly locals, strong engineering workforce and vibrant nightlife. |
| |
| However, the state’s weaknesses were its over dependence on the electronics and manufacturing sector, limited direct flight destinations, lack of top jobs for other sectors and slow pace in property development. |
| |
| He also said the state’s declining population growth due to intra-state migration would hamper its development rate. |
| |
| |
|
| |
| |