Your friendly neighborhood AI
Feb 14, 2020 2 min read

FOCUS MALAYSIA: One-stop property hub targets 21,000 new transactions this year

thumbnail for this post

SHAH ALAM: An end-to-end property marketplace platform, MHub, which is a wholly-owned unit of TRB Ventures Sdn Bhd, aims to capture 21,000 new property sales by year-end.

TRB Ventures CEO Quek Wee Siong is confident that MHub will get more residential solutions to offer its audience.

“We will be expanding to Penang, East Malaysia as well as other suburban parts of Peninsular Malaysia,” he told reporters after the signing of a collaborative agreement with a corporate finance advisory firm, NewParadigm Capital Markets, here today.

In 2019, the platform garnered 28,000 bookings and transacted more than 14,000 sales of new property launches, representing 26% of all new launches in the country.

On the collaborative agreement, Quek said the deal will enable home buyers to use the matching platform and guide them on the best ways of procuring funds to purchase their desired properties.

According to him, NewParadigm Capital Markets has a solution to help home buyers obtain financing beyond just banks by creating special rent-to-own (RTO) schemes to help those who do not qualify for conventional loans.

“The collaboration could help at least 40%-50% of rejected housing loan applicants overcome the hurdle of securing funding by utilising our intelligent data-driven platform,” he added.

According to Quek, MHub has 60 developer partners, including SP Setia, IJM Land and Brunsfield.

Adding that the platform is used by property developers, banks, lawyers, agents and buyers, he said the company aims to double the number of developers this year.

Established in 2005, NewParadigm Capital Markets is an independent and privately-owned corporate finance advisory firm licensed by Securities Commission Malaysia. – Feb 13, 2020, Bernama