In the aftermath of the Asian Financial Crisis in the late 1998, the Real Estate and Housing Developers' Association [REHDA, then known as the Housing Developers' Association (HDA)] highlighted to the then Prime Minister, Tun Dr Mahathir Mohamed of the huge overhang in the property market and urged for immediate measures to be taken to address the critical problem. After several rounds of urgent dialogues and discussions between the Government and REHDA, the government announced special incentives to help alleviate the property overhang. Such incentives included the release of bumiputera units, stamp duty exemptions as well as higher margin of financing by financial institutions. At the same time, REHDA was also exhorted to organize a series of property exhibitions in conjunction with the special incentives. Hence, the Home Ownership Campaign I (HOC I) was conceived.
Following the success of HOC I in reducing property overhang, the Government granted further incentives in 1999 to help bolster the property sector. Again, REHDA was called upon to organise another Home Ownership Campaign (HOC II) in 1999, which was also well received.
Arising from the two HOC, REHDA saw the need to organize such exhibitions on an annual basis to provide a convenient forum for developers to exhibit properties of various types and for homebuyers to view the latest and available launches and property stock all under one roof. Since then, REHDA has organised 6 national level property exhibitions [known as the Malaysian Property Exposition (MAPEX)] in the Klang Valley and more than 50 state level exhibitions throughout the nation.
Over the years, MAPEX has received overwhelming responses from developers, industry players, NGOs and government departments with an average participation of more than 100 developers and 10 financial institutions in each of the exhibitions. The HOC and MAPEX exhibitions are typically held over a period of 3 to 4 days and have become the signature property event each year, recording thousands of transacted properties.
MAPEX has since helped many Malaysian homebuyers to purchase their dream homes at affordable prices. It has helped generate demand for housing and ensure sustained growth of the housing and property industry.