Malaysia as a global medtech hub, plus other headlines

For PropertyGuru’s real estate news roundup, Malaysia has set its sights on becoming a global hub for medical technology. In other news, India’s Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued show-cause notices to 10,773 projects with expired completion dates. Lastly, Thailand’s tourism industry is bracing for a flat growth in Chinese tourist arrivals, forcing authorities to explore diversifying tourism revenue streams.

Malaysia eyes to become global medtech hub

Malaysia has set its sights on becoming a global hub for medical technology (medtech), leveraging its robust infrastructure, skilled workforce, and conducive regulatory environment, according to VietnamPlus. The country’s strategic location in Southeast Asia positions it as an ideal centre for medtech manufacturing and innovation. Thanks to supportive government policies and the region’s growing demand for healthcare solutions, industry players are optimistic about Malaysia’s potential to attract international investments and partnerships. Stakeholders are particularly keen on advancing research and development, boosting exports, and strengthening the supply chain.

MahaRERA issues show-cause notices to 10,773 lapsed projects, most in Mumbai Metropolitan Region

The Maharashtra Real Estate Regulatory Authority (MahaRERA) of India has issued show-cause notices to 10,773 projects with expired completion dates, most located in the Mumbai Metropolitan Region. The Indian Express reports that these lapsed projects have raised concerns over delays, non-compliance, and the overall credibility of the real estate sector. MahaRERA has asked developers to justify the reasons for delays and submit revised timelines for completion. This move aims to improve transparency and protect the interests of homebuyers while ensuring adherence to regulations.

Chinese tourist flows to Thailand are likely to stay flat

A report by Bangkok Post says Thailand’s tourism industry is bracing for a flat growth in Chinese tourist arrivals, despite recent policy efforts to boost visitor numbers. Analysts attribute the stagnant trend to economic challenges in China and shifting travel preferences among Chinese tourists. The lack of a significant uptick in arrivals from this key market may impact Thailand’s tourism recovery, a crucial driver of economic growth post-pandemic. Authorities are exploring diversifying tourism revenue streams while maintaining Thailand’s appeal to global travellers.

The Property Report editors wrote this article. For more information, email: [email protected].