Zerin Properties CEO Previndran Singhe is a brave man. Despite mounting concerns over the state of the world economy in all corners of the globe — Second Finance Minister Tan Sri Nor Mohamed Yakcop recently said Malaysians must accept the reality that the global financial crisis is expected to continue into 2010 — Previndran is sticking to his guns.

It was not too long ago when luxury condo prices in the KLCC enclave were escalating at a dizzying pace. Sentiments have, however, cooled with prices treading south since the global financial crisis broke late last year. Exactly how low have prices dipped?

Syarikat Perumahan Negara Bhd (SPNB) was set up by the federal government in the aftermath of the 1997/98 Asian financial crisis to rehabilitate hundreds of abandoned property projects nationwide.

He is not perturbed that his reading of the Malaysian property market is against the herd.

KUALA LUMPUR:  Despite the current downturn in the property sector, there are still homebuyers scouting for properties as seen at the three-day Malaysian Property Exhibition (Mapex) here which ended on March 8.

Crest Builder Holdings is humming with activity. Since venturing into property development, the construction group has been building its presence in the Klang Valley. For executive director Eric Yong, the current slowdown is an opportunity for the company to grow its landbank.

PETALING JAYA: Despite the current downturn in the property market, developer Ken Holdings Bhd is going ahead to develop an office tower in Taman Tun Dr Ismail, Kuala Lumpur.  It aims to submit for building plan approvals "in a few months' time" and start work on the project by the end of the year, its executive director Sam Tan said on March 6.

The Edge interviews Zerin Properties CEO Previndran Singhe, who will be speaking at the The Edge Investment Forum on Real Estate 2009 on April 4  gives his take on the property market slowdown.

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Human resource consultant, Mrs Christine Ong, 38, is just the kind of home buyer that Frasers Centrepoint Homes in Singapore is targeting. Ong and her husband live in a five-room HDB flat in Bukit Panjang, which they bought from the HDB 10 years ago. Today, the property is fully paid for.Now, the couple is shopping for a new property. “If the price is right, we will sell our flat,” says Ong.