Malaysian developers look beyond home turf
- Published: 29 Oct 2012 at 09.58
- Newspaper section: Asia focus
The limited amount of land available in Penang, Malaysia is driving a local property developer and his colleagues to seek opportunities in other Asean countries, particularly Thailand, Myanmar and Laos.
Show DC, located on Jaturatit Road near Rama IX Road in Bangkok, is AEC’s first venture in Thailand. An integrated distribution centre for small businesses, it could be a prototype for more such buildings to serve Thailand’s huge retail sector.
Steven Ong, a director and shareholder of AEC Property Development, said land in Penang was fully developed and he had decided to seek more opportunities elsewhere. He views Thailand as a good centre from which to expand, especially to Myanmar, which is embarking on a new era of economic development.
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