Press release

Our expertise in the property development industry in ASEAN

The global outbreak of COVID-19 has affected the property industry, recording a downturn trend with low foreign investments and pending projects. The growth of the industry is slower due to the unprecedented demand shock from the outbreak of COVID-19 and market uncertainties, impacted by the restriction of movement by governments across the ASEAN region.

Lower demand on luxury or high-end properties, fewer residential project launches and lower level of transactional activity were observed in the beginning of COVID-19 mainly due to travelling restrictions and stringent bank loan approval as banks are cautious and strict in choosing clients to minimize risk of being defaulted. However, more transactions were reported during the recovery stage with the help of the government such as introducing numerous economy recovery plans.