JUWAI IQI RECORDS 293 PCT REAL ESTATE SALES IN 2021 TO-DATE, DESPITE COVID-19

KUALA LUMPUR, May 24 --  Despite the challenges due to the COVID-19 pandemic, real estate technology company, Juwai IQI recorded 293 per cent more new project sales in 2021, to-date, compared with the same period in 2020.

In a statement today, Juwai IQI said it concluded US$88 million (US$1=RM4.14) of new-project residential sales across Malaysia, in the week of May 10, 2021 -- nearly 75 per cent more than in the approximately US$50 million of a typical week this year.

Juwai IQI Group Co-Founder and chief executive officer Kashif Ansari said the Movement Control Order (MCO) did not affect Juwai IQI's sales in Malaysia.

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"On the contrary, our sales went up during that period, because our technology platform made it possible for us to continue to serve buyers despite the MCO.

"Since then, we have continued to invest in technology and are building a 1000-person global technology and data team here in Kuala Lumpur," he said.

Kashif said observers expect that economic, employment and income growth should increase more rapidly in the post-pandemic rebound than the pre-COVID rate.

"Those conditions tend to coincide with rising property demand and prices.

"Demand has been fuelled by low-interest rates, the reintroduction of the Home Ownership Campaign and various other property-related initiatives introduced in Budget 2021, including the National Economic Recovery Plan (PENJANA)," he added.

Meanwhile, he said two projects that saw strong sales this year despite the pandemic were D'Cosmos and The Fiddlewoodz, where prices ranged between RM676,000 and RM854,800 per unit.

"Buyers today are much more sensitive to lifestyle and amenities than in the past.

"The best-selling units all have at least two bedrooms and two bathrooms. In addition, some have study rooms," he added.

-- BERNAMA