The East Coast Economic Region (ECER) can boost the property sector and property prices in the long term, industry experts and real estate consultants say."It's a long term game and the higher impact would be on industrial development in buildings and land for industrial," Henry Butcher Malaysia's property research director Fahariah Abdul Wahab said.It is learnt that Kuantan can sustain another 150,000sq m of retail space, Kota Baru some 110,000 sq m and Kuala Terengganu some 135,000 sq m. Fahariah said although the ECER hold about 14.8 per cent of Malaysia's population, it only recorded up to 9.1 per cent of residential, 6.5 per cent of commercial and 8.3 per cent of industrial property transaction in the country in 2006.In terms of value, the residential sector in ECER only constituted 4.2 per cent of the national total.(5-2-2008 New Straits Times)
