M101, a real estate firm headquartered in Malaysia, has opened its doors for Indians to invest and buy property in their project M101 Skywheel. The company said that it is targeting consumers, who want to have a second home in a foreign land.
Dato Seth Yap, CEO of M101, who was in Chennai to promote his project, said, “Historically, there have been very close ties between Tamil Nadu and Malaysia. Many big plantations in Malaysia are owned by communities from Tamil Nadu, which have set up huge businesses in both countries. We want such people to see our property.”
“The 800 sq. ft studio apartments are priced at ₹2 crore,” he said, adding that the project was supported by the Malaysian government. Located close to the Petronas Towers, Skywheel is headed for completion by 2020. To market this property, the firm has inked a deal with two Indian real estate firms — REMAX India and Connection Point. Yasser Rahman, director, Connection Point, said, “A lot of people from Tamil Nadu are buying homes in places like Dubai. With this venture, they will look at Malaysia also. Harinder Singh, director, REMAX India, said Indians are buying property in various regions around the world, including the U.S.A and Australia.