Rahim & Co drawing up plans to enter Asean, Asia-Pacific markets

KUALA LUMPUR: Rahim & Co International Bhd, an international property investment consultant, plans to widen its presence in the overseas market by making forays into the Asean and Asia-Pacific markets.
Its executive chairman, Tan Sri Abdul Rahim Abdul Rahman, said the firm is currently looking at Vietnam, Cambodia, China and Hong Kong as its next investment destinations due to their huge population and massive demand for properties.
Abdul Rahim said Rahim & Co plans to open at least two or three new branches overseas in the next five years.
He expressed optimism that the company will fare well in these countries due to its good track record in the local and overseas markets.
“My logic is, if we can be successful here, why can’t we achieve similar success in the international market? We have a very well structured company, we are very professional in our work, and we don’t see why we cannot be successful with a larger (international) market.
“Vietnam (for example) has 70 million people, (more than) twice the population of our country. So, the demand for real estate business and real estate professionals is there. And if other European firms can go to Vietnam and become successful there, why can’t we?” he said.
To date, Rahim & Co has presence in London, Melbourne, Sydney and Perth, which are very popular property investment destinations among Malaysians.
On the Malaysian property market, Abdul Rahim said, generally, it is very soft with the luxury segment of the residential market facing overbuilding, where demand has not been able to keep pace with supply.
The government should consider implementing rent-first scheme, especially for fresh graduates and newlyweds, to help them own houses, he said, adding that over time, they could change the status from tenants to buyers as they get stable salaries or become financially stable.