MIPFM: Get ready for influx of foreign investors next year

KUALA LUMPUR (Nov 21): Malaysia is expected to be on the radar of foreign investors who are seeking a stable market to invest and to operate from, said Malaysian Institute of Property and Facility Managers (MIPFM) president Adzman Shah Mohd Ariffin. 

Hence, he said property and facility managers in the country need to enhance the performance of their buildings in order to meet the demands and expectations of international tenants.

“Moving into 2020, I believe this is the year where the crunch is. Recession has settled in certain countries and there are people who are looking to invest in countries that are stable and I think Malaysia will be on their radar. So, we may see an influx of investors coming in,” he told reporters after the launch of the MIPFM Conference 2019 today.

“They want to see good and well-managed buildings, so I think next year is the year for property and facility managers to equip themselves with all the right knowledge and the latest technology, and to apply them within their buildings, such as malls, offices and industrial complexes in order to improve the performance of their building,” he continued.

He added that with the increasing challenges facing practitioners such as issues related to strata property management, shortage of skilled staff, technological changes, upcoming amendments of the Strata Management Act 2013 (Act 757), new legislation such as the Rent Act and implementation of parcel rent, property and facility managers need to find solutions and keep abreast of market developments.

“With all this in mind, MIPFM aspires to play a more active role in taking the profession to the next level. Moving forward, MIPFM has plans to conduct accreditation courses for practitioners The objective is to promote consistent practice standards and enhance competency among members. We hope that this will help to improve the quality of and value add our services to our clients,” he said.

The Board of Valuers, Appraisers, Estate Agents and Property Managers Malaysia (BOVAEP) president Khairudin Abd Halim who officiated the opening of the conference concurred, saying that with rising challenges, especially in mixed-use developments and buildings with more advanced and sophisticated features, the country needs more property managers with the right qualifications and skills.

Hence, he urged non-governmental organisations and related bodies such as MIPFM to continue to provide the necessary industry related training and education for their members as well as for the public, particularly on the management of strata properties.

“BOVAEP, under the purview of the Ministry of Finance will continue to play an active role in ensuring [the property management] practitioners are in compliance with the Act [242] as well as the Malaysian Property Management Standards,” he said.

The MIPFM Conference 2019 is themed Enhancing Property Value via Best Practice Solutions. EdgeProp.my is the exclusive media partner.