g asset tourism malaysia

Why are investors still investing in Malaysia’s Hospitality Assets amidst the Pandemic?

For years, governmental efforts to boost the tourism sector combined with access to low-cost air travel have fuelled a steady growth in Malaysia’s tourism. Langkawi and Genting Highlands are two of the many attractions in Malaysia that have made significant contributions to the country’s tourism industry.

Nested on the West Coast in the state of Kedah, the pristine beaches are just part of the reasons why Langkawi has attracted a growing pool of visitors consistently. Langkawi, ‘The Isle of Legends’ or ‘The Jewel of Kedah’ has always been known as a world-class destination for events, conventions, meetings and exhibitions. Over the past 18 years, Langkawi was host to major international festivals and events such as Le Tour De Langkawi, Langkawi International Maritime & Aerospace Exhibition (LIMA), Langkawi International Festival of Art (LIFA), Langkawi International Mountain Bike Challenge (LIMBC), Langkawi Geopark Carnival etc which boosted the international arrivals resulting a jump on the bandwagon, doubling between 2014 to 2019. Today, with strict interstate travel restrictions in place, the island of Langkawi is akin to an oasis, ready to welcome both domestic and international tourists once travel re-opens.

With tourism numbers growing steadily, Langkawi was on track to becoming one of the most visited islands in Southeast Asia. As such, more airlines are also expected to start direct flights to Langkawi following the successful negotiations carried out by the Langkawi Development Authority (LADA). With various plans for driving tourism to Langkawi, investors are optimistic about the growth potential of properties and the demand for rental. Some believe that this is the reason why the state of Kedah (where Langkawi is located) continued to see an increase in average transaction prices for residential properties throughout 2020 and Q1 2021.

Over at Genting Highlands, a new RM3.2B Skyworlds theme park continues with its plan to open in December 2021. Pre-Covid, tourist arrivals in Genting Highlands had increased ~60% from 18.1 million in 2014 to 28.7 million in 2019. In today’s climate, the new theme park and gaming hub might well be the much-needed escapade that would reinvigorate interest and tourism for Genting Highlands. Further, the ongoing Genting Integrated Tourism Plan (GITP) which began in 2013 to further develop and revitalise Genting Highlands is also at its tail-end and almost complete. In fact, the GITP has already boosted tourism as well as the appeal of properties in and around the area. Average prices of properties transacted in the state of Pahang (where Genting is located), first saw a 24% increase in 2013 when the GITP was unveiled and has continued to trend upwards ever since, reaching an all-time high in Q1 2021. Indeed, investors appear to have reason for being optimistic about Genting Highlands’ future.

It is also no wonder that despite the current environment, many are still looking into Langkawi and Genting Highlands as high potential destinations for travel, tourism and investments into resorts and holiday homes. This is particularly so, given the advantages of the current low interest rate environment.

Why buy resort-style serviced apartments in Malaysia? Among which, serviced apartments that cater to both long term and short-term stays have become a popular asset class for investors looking into Langkawi and Genting Highlands. With greater flexibility to maximise rental income, units located in popular tourist destinations are known to generate 6% to 8% annual yield. As serviced apartments are typically furnished units and include housekeeping services, they are often much easier for landlords or property owners to invest in and to manage in the long run.

Introducing Tropicana Journey Collection Tropicana Corporation Berhad, one of Malaysia’s leading real estate developers, is currently launching Tropicana Journey Collection, a series of premium quality properties guided with its 4S pillars being Strategic, Spectacular, Superior, and Smart as a benchmark for success. Tropicana Cenang in Langkawi features homes by the sea, offering a premium seafront integrated development for individuals seeking for a sense of resort relaxation, whereas Tropicana Grandhill in Genting Highlands offers mixed development nestled in the mountain’s embrace.

Tropicana Cenang, Langkawi – Mesmerising sea facing properties by Tropicana Corporation Bhd. Langkawi offers not just investment properties. Its tranquil environment makes it an ideal option for retirement homes. This was evidenced through a recent survey on International Living, where Malaysia was placed seventh in the ten best retirement destinations worldwide. More importantly, Langkawi properties offer great prices for waterfront homes, such as Tropicana Cenang, where prices start from RM 500,000 (USD 121,359). Not only Tropicana Cenang Langkawi has direct access to the pristine Cenang Beach, but it is also an exciting freehold seafront integrated development featuring retail shops, premium serviced suites and a luxury-international 5-star hotel. Cenang Beach is the liveliest beach town on Langkawi Island, surrounded by high-quality shopping and entertainment options, residents can enjoy a mix of local cafes, restaurants, duty-free shopping, water sports activities and bar-hopping around the laidback nightlife venues in Cenang Beach. Best of all, the development is only a mere 9km and a few minutes’ drive from Langkawi International Airport, which was recently ranked the 7 th Best Airport in the world.

Apart from its strategic location, the integrated development offers fully furnished residential suites ready to be lived in or rented out when completed. All luxury suites in Tropicana Cenang enjoy a waterfront living experience with direct access to hotel-grade services and at least 30 retreat-style facilities. Slated for completion in 2026, the development is well-positioned to capture the rebound in travel and tourism in a post-pandemic world. It is also expected to achieve an estimated rental yield ~8% per annum.

Tropicana Grandhill, Genting Highlands – The Natural High Ground by Tropicana Corporation Bhd Amid tropical mountain landscape, cooling weather and lush greenery sits Tropicana Grandhill, a 112-acre mixed development, freehold resort city. It is also the first township development in Genting Highlands with a master plan comprising six core pillars – residential, commercial, education, wellness, park, and silver hair village – offering something for everyone. Situated near one of Southeast Asia’s top entertainment cities, visitors and residents have direct access to casinos, theme parks, concerts, performances and a full spectrum of over 100 retail outlets comprising F&B, luxury as well as daily necessities. The Awana Golf Course and Awana Skyway are also just 10 minutes away.

Strategically located, Tropicana Grandhill is a mere 40-minute drive to Kuala Lumpur and 20 minutes from the summit of Genting Highlands. Embraced by the lush green, true tranquil scenery and surrounded by an abundance of attractions in Genting Highlands, it is truly a quick getaway from the hustle and bustle of city life.

TwinPines is the first residential development in Tropicana Grandhill. It features studios with 379sf up to 1,330sf of 4-bedroom dual key apartments, access to 30 different retreat-style facilities as well as services for guests and residences. Scheduled for completion in 2026, owners enjoy a hassle-free experience as all units are fully furnished upon completion, includes daily housekeeping services and a vacant home care programme to always maintain the units in perfect condition. Given its potential for short-term stays, many expect rental yield to be 6% or more, and that the development will be launched when travel restrictions are lifted.

Conclusion Perhaps, the appeal of the Tropicana Journey Collection is not just in its location. While Langkawi and Genting Highlands are attractive destination for both travel and investment; the stand-out proposition that Tropicana Cenang and Tropicana Grandhill offers homeowners and investors are the fully furnished units, resort-themed facilities, hotel-grade services, and professional property management services that one can expect from a premium developer like Tropicana.

PDPA Disclaimer: By submitting this form, you agree that Tropicana Corporation Berhad and DREA Asia Pte Ltd. may collect, use and disclose your personal data, as provided in this form for the purposes of following up on your request, in accordance with the Personal Data Protection Act 2012 and our data protection policy. Please visit our website (http://www.drea.com.sg/terms-of-use/) for further details on our data protection policy, including how you may access and correct your personal data or withdraw consent to the collection, use or disclosure of your personal data.

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Tourism industry generates RM197.9bil GVATI in 2021, contributes 12.8% to GDP

Wednesday, 28 Sep 2022

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KUALA LUMPUR: Malaysia’s tourism industry generated RM197.9 billion of "gross value-added of tourism industries” (GVATI), contributing 12.8 per cent to the gross domestic product (GDP) in 2021, compared to 14.1 per cent in 2020, according to the Department of Statistics Malaysia (DOSM).

GVATI is the difference between total output and total intermediate consumption of the tourism industry.

DOSM said in a statement that based on the tourism subsectors' performance, almost all industries recorded a negative growth rate, except for the retail sale of automotive fuel (4.7 per cent), retail trade (4.4 per cent), and country-specific tourism services (3.4 per cent).

Retail trade remained the main contributor to the tourism industry (56.1 per cent).

Employment in the tourism industry recorded 3.52 million people in 2021, which contributed 23.4 per cent to the total employment.

Employment in this industry has recovered to 1.8 per cent from a negative 2.9 per cent in the previous year.

Additionally, Tourism Direct Gross Domestic Product (TDGDP), which has been identified as one of the main indicators to gauge the sustainability of tourism, recorded RM13.1 billion compared to RM28.4 billion in 2020, as it tumbled 53.8 per cent compared to a decrease of 72.2 per cent in 2020.

"Overall, TDGDP contributed 0.9 per cent to GDP as against 2.0 per cent in 2020.

"The three main products in TDGDP were retail trade, accommodation, and food and beverage serving services with a combined share of 73.5 per cent in 2021.

"However inbound tourism expenditure decreased 96.6 per cent to RM0.47 billion in 2021 in tandem with the decline in the number of foreign tourist arrivals to Malaysia," it said.

DOSM said the internal tourism consumption generated RM17.9 billion, which decreased by 65.8 per cent from the previous year. "Domestic tourism showed a significant performance by contributing 97.4 per cent to the total internal tourism consumption while inbound tourism recorded 2.6 per cent,” it said. - Bernama

Tags / Keywords: DOSM , Statistics , tourism , GVATI , TDGDP , employment

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