Home Property You Don’t Know What You Have Got Till It’s Gone!

You Don’t Know What You Have Got Till It’s Gone!

Dato’ George Stewart LaBrooy With a career spanning over 40 years in the industrial space, Dato’ George Stewart LaBrooy, the Executive Chairman of the AREA Group of Companies speaks and writes on property and REITs on a regular basis.

BY DATO’ STEWART LABROOY

When I am asked to write articles, I am invariably asked to write about the state of the property market. Everyone today is hungry for an opinion on the future of real estate not only here in Malaysia but globally as real estate investment has become a global phenomenon.

However, today I wish to dwell upon my observations as I trolled through articles in the news. The term “The New Normal” and “Coronavirus/Covid-19” seems to pop up incessantly; a relentless assault on our senses that we can’t seem to escape from.

The other popular headline is predictions of the next stock market crash. We seem to have two options left in life – either to die from the virus or die poor.

As we are told that the next spike in infections are coming in a third wave and the economy is tanking globally – the effects of these
rumours though have not manifested themselves yet. Nothing like the scenes from The Great Depression of the 1930s but those scenes will manifest when governments find out they can’t keep printing money to buy themselves out of today’s crisis. We are in the eye of the perfect storm and people are very afraid.

For years, we took our lives for granted. We lived in a world where job security saw a rapid rise in the standard of living; a world in which people could travel anywhere, see amazing places, share holidays with friends on the myriad of social network platforms, eat amazing food, watch movies and indulge in favourite sports activities with thousands of like-minded fans. The benefits of having amazing jobs, studying at universities, graduating at high profile and glitzy ceremonies and enjoying mobility at work that was unparalleled in our lifetimes was lived out in full. But at the same time, the destruction of the planet was taking place – with greed and excessive consumption coming into play.

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