IQI Chief Economist, Shan Saeed appeared in the media again! This time, he expresses his opinions to the Malaysian Reserve on the turbulent time that Europe is facing and suggested that Malaysia would be the next best place to invest in property.
“He [ Shan Saeed] believes that property investments continue to be attractive as Malaysia is the only country that offers freehold property”
With increasing number of new developments (i.e. MRT, HSR etc) in Malaysia, new opportunities will arise, and savvy foreign investors will be interested in investing in Malaysia and take advantage of the current soft market.
Read below for full article.
Europe is ‘dead’, warns analyst Shan Saeed
by Alexander Winifred
Pakistani economist drops bombshell saying that EU is ‘a failed model’
“EUROPE is dead,” says Shan Saeed, 43, from Pakistan. Shan is no coffee-shop analyst.
At one of his most recent speeches at the Shangri-La Hotel in Kuala Lumpur (KL), Shan’s brazen comments about Europe drew shock from some members of the audience. People were asking: “Who is Shan Saeed?”
Head economist and investment strategies at IQI Holdings, Shan helps lead a small, agile team of salespeople that he said were responsible for helping to drive “hundreds of millions” in investment to Malaysian properties over the last three years.
Most of these properties are centred in high-end markets like the Kuala Lumpur City Centre, where Shan’s office has a pretty good view of the Petronas Twin Towers.
He believes that property investments continue to be attractive as Malaysia is the only country that offers freehold property.
“Bargain pricing where office properties in KL retail as much as third of their Singaporean counterparts will continue to drive purchases in key areas in the country,” said Shan, adding that investors can buy a 1,500 sq ft space in the middle of the city for about RM2 million.
“A similar property would cost about RM6 million to RM7 million in Singapore. Don’t you think Malaysia is heaven?”
IQI Holdings, founded by Pakistani businessman and banker Kashif Anshari in 2012, has offices in several countries including London and Dubai.
Shan’s job here is to drive investments into markets like Malaysia, where the economy had grown at about 5% over the last few years. He also keeps tabs on the developing European economic crisis – something he used to support his calls on Asean.
On the reason for the European decline, Shan said that the European Union “is a failed model. It’s a cultural issue”.
Differing productivity levels in different member states are pushing and pulling the region’s plans for economic integration apart, European banks are facing increasing pressure with more stringent regulatory requirements and low interest rates regime.
The European Central Bank has introduces negative interest rates to boost growth. But Shan said: “The International Monetary Fund (IMF) is engineering a default in Greece to destabilise Europe.”
He believes IMF wants to create an artificial confidence in the US economy,” he said, adding that terrorism had added to Europe’s problems.
Source: The Malaysian Reserve
Shan Saeed pictured below, giving a speech at Shangri-La Hotel, Kuala Lumpur