SUBANG JAYA, March 9 (Bernama) — Selangor is still the favourite ground for the industrial property market and it is followed by Johor, Penang, Perak and Kedah, JB Jurunilai Bersekutu Sdn Bhd’s partner, Mohd Harith Abdul Hamid said today.

This, he said was due to the best and up-to-date infrastructure facilities in existence in tandem with the state’s aim to be an industrialised state by the year 2005.

Within Selangor, he said the main industrial areas are in Petaling, Klang and Hulu Langat associated with locations off the Federal highway and locations near to major towns such as Shah Alam and Subang Jaya.

Selangor is reported to have attracted foreign direct investment worth RM18 billion between January 2000 and June 2003 comprising 1,438 projects, said Mohd Harith at the National Property Development Conference 2004 held here, today.

He presented a paper entitled Property Market Outlook for Industry and Agriculture.

The state, he said approved 78 projects worth RM500 million in the first six months of 2003 and there was a push by the state urging businessmen to invest in its 400 hectares Pulau Indah Free Trade Zone which had so far secured investments worth RM1 billion.

Given the improving global economic outlook and the positive forecast on the Malaysian economy to grow between 5.5 percent and 6.0 percent in 2004, he said there was still ample investment opportunities in the manufacturing and related service industry.

“Investment from both domestic and foreign sources are expected to be maintained at high levels in 2004, to be led by the recovery in the electronics and semiconductor sector (which would create demand for the industrial property market),” he said

Hence, within the local context, a resilient domestic demand will spur growth in the domestic oriented industries particularly construction related building industries.

As for the agriculture property market, the active areas are in palm oil which was prominent in Johor, Selangor and Perak, rubber in (Perak, Johor and Pahang), paddy in (Kedah, Perak and Selangor) and estates in (Sabah, Johor and Perak).

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