NCT Alliance, a property firm that's all about reviving those left-behind projects, is back in action, seeking more funds by dishing out shares once again. They already pulled this move off around 10 months back. This time, it's all about fueling their property developments, namely the Grand Ion Majestic and Ion Vivace projects. Grand Ion Majestic is nestled up in Genting Highlands.
When the borders eventually open up, property up in the Highlands tends to make a splash, but it's a bit of a flash in the pan. Another player in the Genting scene, Tropicana Corp, had big dreams but had to pump the brakes due to the demand tapering off after a quick burst post-Covid. And let's not forget the hefty price tag and logistical conundrums of erecting a skyscraper-condo on a soaring 1800 meters – it's not exactly a breeze.
I'm all for NCT Alliance's admirable mission of resurrecting forgotten projects, but am I gonna jump in as a shareholder? Gotta say no, especially since many property developers with prime land reserves are currently up for grabs at rock-bottom prices.