Malaysia My Second Home Scheme Eyes 70,000 HK Retirees

The Malaysia My Second Home (MM2H) programme targets over 70,000 Hong Kong retirees.
 
A MM2H agency, Aubella Sdn Bhd, has signed a joint venture agreement with Rainbow Credit Union, Hong Kong, to offer a new retirement solution and property investment in Cyberjaya.
 
The development offers investors and retirees a 10-year social visit visa as well as a unit of freehold property in Cyberjaya at an affordable RM500,000 (USD168,000).
 
Aubella General Manager Vincent Fong said at the programme launch and agreeement signing ceremony that investors nearing retirement age could rent out their units as this offers a steady passive income.
 
“In the long run, the net worth of the property will grow due to capital value appreciation,” he said in reply to a question from a potential investor at the launch held at the Malaysia Healthcare Travel Council (MHTC) office in Wan Chai here Wednesday.
 
The agreement signing was witnessed by Max Wong Wai Khuen, Regional Director (East Asia) of MHTC, an initiative by Malaysia’s Health Minsitry to develop and promote the medical tourism industry.
 
At the same occasion, Aubella also signed a memorandum of understanding with MHTC to unveil this new package to retirement investors.
 
Also present were Rainbow Credit Union Director Terry Liew and BND Global Development Sdn Bhd Chief Technology Officer Seow Gim Shen, the project developer’s representative.
 
Rainbow Credit Union is an international financial cooperative that encourages members to fully utilise their resources and manage their finances.
 
Liew said Malaysia was chosen for its climate and medical facilities as well as for its human, cultural and geographical environment.
 
The number of medical tourists to Malaysia has grown 226 per cent over the past six years, from 341,000 in 2007 to 770,000 in 2013, Wong said, pointing out that medical services in Malaysia are value for money, with no discrimination of foreign patients.
 
The new development is named ‘Roppongi @ Cyberjaya’ after a district in Tokyo. The concept integrates work, dining, shopping, entertainment and education all within a high-density, high-intensity yet green urban environment.
 
Seow said the ‘Roppongi @ Cyberjaya’ will be the first ‘micro-climate township’ in Malaysia and is expected to be completed in 2019.
 
“Roppongi will support a diverse population. Our civic facilities will complete the balance in lifestyle and convenience for all residents,” he added.
 
Malaysia has been ranked as the top retirement destination in Asia by internationalliving.com for 2013 and 2014, while the Longstay Foundation of Japan rated it as the most popular long-stay destination for retiring Japanese for the eighth consecutive year since 2006.
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