Hatten Group’s Head of Sales and Marketing Cassandra Tio explains why it is the best time to invest in Malacca now.
The state of Malacca has good tourism appeal, supported by the fact that it is also a UNESCO World Heritage Site along with Georgetown situated in Penang. The cost of land is cheap and is not overly inflated with plenty opportunities for growth.
In 2008 when Malacca was first recognised as a UNESCO World Heritage Site, the state experienced a sudden surge of tourism interests. Then, the development progress in Malacca became more dynamic with more developers launching projects in the state. Tourists occupy about 50% of the population in Malacca. In 2014, the state of Malacca recorded more than 14 million tourists from around the Asia region such as China, Singapore, Japan and Taiwan, roughly translating up to 39,000 tourists a day. The current hospitality situation in Malacca demands more than 19,000 rooms for tourists, however the state only has about 8,700 rooms for occupation. Unfortunately, this has created a lack of tourism facilities, but thankfully there are also various specialised homestays in the state.
Malacca is a home to one of the nation’s medical tourism industry with specialist hospitals and care for the special needs for tourists. Other hospitals include the Mahkota Medical Centre, Putra Specialist, Pantai Ayer Keroh, Southern Hospital and Hospital Jasin. For tourists who love sporting activities, there are about nine golf and country clubs enabling more fun undertakings other than sight-seeing. There are the A’Famosa Golf & Country Club, Ayer Keroh Country Club, Gemas Golf Resort, Orna Golf & Country Club, Golden Valley Golf & Country Club, Jasin Golf Club, Pandan Nusa Golf Club, Tiara Melaka Golf & Country Club and Bukit Terendak Country Club. Along with Hatten Group’s development of Hatten City and Harbour City, there will be bigger tourism developments within Malacca.
Since 2001, Malacca is one of the fastest growing states because there are many investors and developers starting a foothold here. Malacca saw integrated developments in Alor Gajah, Melaka Raya as well as Ayer Keroh. In 2008, average price per sq ft for residential properties within the city centre costs about RM250. However 4 years later in 2012, the price increased to RM950 per sq ft. This is approximately 280% appreciation in property value! With more upcoming projects in Malacca such as the Jurassic Park theme park, Yi Yuan Arts Academy, Marina Jetty Terminal, EcoMarine Park, Cheng Ho Trade Centre and the Teddy Bear Museum, Malacca will once again experience manifold tourism into the state.
NO TIME LIKE THE PRESENT
It is the best time to invest in Malacca now because it will once again become a central trade point between the Eastern and the Western world as China is starting back a trade route to the proposed Malacca port.