KUALA LUMPUR, 22 February 2013 - More cross-border investments between Malaysia and Singapore are expected to propel, following the confirmation of plans for a high-speed rail link by the two countries’ prime ministers.
According to Steve Melhuish, Co-Founder and Group Chief Executive Officer of leading property portal PropertyGuru, the link will draw greater interest from investors to put their money into Malaysian properties, particularly in Kuala Lumpur.
“The high-speed train will not only dramatically improve the connectivity between Malaysia and Singapore, but also open more doors for cross-border trade and facilitate direct access to numerous investment opportunities for individuals and institutional investors in both countries.”
Melhuish noted that with Singapore’s newly-introduced property curbs in place, Malaysian property could likely steal some of the limelight, with demand from overseas investors taking a hike.
Hence, institutions could also take a step forward with special-vehicle investments of prime real estate especially in the Kuala Lumpur city centre.
Notably, the rail link was confirmed by the two top leaders at the Malaysia-Singapore Leaders’ Retreat 2013 on Tuesday. Set to be completed by 2020, the new transport system will cut travel time between Singapore and Kuala Lumpur to only 90 minutes.