iProperty.com Expo Nets RM600 million Property Sales Jun 16, 2010
A staggering RM100 million worth of properties were sold at the recent iProperty.com property expo (www.iproperty.com/expo) at the Mid Valley Exhibition Centre last month. Another RM500 million in total deals are expected to be inked post-expo, making this by far the most successful property expo organized by the Malaysian division of the iProperty.com Group, a network of property portals owned by Australian public-listed company IPGA Limited (ASX:IPP) (www.ipgalimited.com).
The fully-occupied property exhibition saw over 50,000 local and foreign property buyers and investors viewing more than 100 property developments mostly from Malaysia. Records show that daily visitors over the 3-day expo far exceeded previous numbers at property shows held in Mid Valley, a popular retail mall in Kuala Lumpur.
Commenting on the huge turnout, Ken Tsurumaru, Country Manager of iProperty.com Malaysia said: The impressive response received at the expo is testament that consumer confidence in the property market has returned amidst improving economic conditions.
Record-breaking Months
The phenomenal success came on the heels of month after month of record-breaking figures at the portal since early this year. The top property portal in Malaysia chalked up huge jumps in terms of visitor numbers, real estate agent advertisers and leads generated since March this year. Last month alone witnessed over 150,000 property enquiries via e-mail, SMS and phone calls to agents and developers, representing a 77% increase in leads compared to the corresponding period last year. A whopping 6 million property listings were viewed in May, representing a 26% jump from April.
The success of both online and offline components of iProperty.com strongly suggests a surge of interest and confidence in the property market by consumers this quarter. Right across the iProperty.com Group, were seeing fantastic month-on-month growth with record results in our three core markets of Malaysia, Singapore and Hong Kong, Shaun Di Gregorio, CEO of the iProperty.com Group announced following the unveiling of the results.
Not to be missed is another property exhibition themed Luxury Property Collection to be held at the Kuala Lumpur Convention Centre from 30 July - 1 August 2010. Organized by iProperty.com, the much awaited show is believed to be the largest luxury property show in Malaysia with over 6,000 sqm of exhibition space.
www.iproperty.com.my/news
IPP Price at posting:
41.0¢ Sentiment: Buy Disclosure: Held
