PART 2 Upsides of UNESCO World Heritage Site Status for Property Investment
I went further into studies on the oldest state of Malaysia – Malacca. Before the arrival of the first Sultan, Malacca was a fishing village populated by local inhabitants known as Orang Laut. Malacca was founded by Parameswara in the year 1402 where he discovered a site that made for a great port – it was accessible in all seasons and strategically located at the narrowest point of the Malacca Straits.
According to a well-known local legend, Parameswara was resting under a tree near the river, one of his hunting dogs cornered a mouse deer (known as a kancil). The mouse deer pushed the dog into the river in self-defence. Parameswara was impressed by the courage of the deer, he saw it as an omen of the weak overcoming the powerful. Hence, Parameswara decided to name the place as “Malacca” after the tree he was resting under, the Malacca tree.
Malacca is the definitive historical state of Malaysia, rich with heritage buildings, ancient landmarks, and colonial structures. During the 15th century, China's Ming Dynasty was seeking to develop a commercial hub and a base of operations for their treasure voyages into the Indian Ocean. This is where Admiral Zheng first stepped foot in Malacca through the Straits of Malacca. The intention of Zheng He was to establish a Chinese presence and impose imperial control over trade in the Indian Ocean.
The rulers of Malacca, such as Parameswara in 1411, would pay tribute to the Chinese emperor in person. To enhance the relationship between Malacca and China, Hang Li Po, a daughter of the Ming Emperor of China, arrived in Malacca with the accompaniment of 500 attendants, to marry Sultan Manshur Shah who reigned from 1456 until 1477. Her attendants then married the locals. This is the beginning of the Baba and Nyonya ethnic groups, whose ancestors were Chinese migrants who intermarried with the locals and adopted the local culture.
Moreover, Malacca also has a long history with the Portuguese, the Dutch and the British – they have all colonised Malacca at different times over a span of more than 300 years. Malacca's local culture was mixed, influenced, and shaped with different ethnic influences of the Chinese, the Portugese, the Dutch, and the British. It is a unique blend of history, people, arts, music, and food. Today, Malacca is recognised as a UNESCO cultural heritage site, and tourists often pay a visit to Malacca when in the country. Some famous tourist spots to mention are the A’Famosa Fortress and Twilight Dutch Square, where you can witness a few of the oldest surviving colonial buildings featuring European architectural in Asia.
Another famous and must-visit place is none other than Jonker Street, also known as Jonker Walk. Jonker Street is definitely a delightful experience to walk through and photograph, with centuries’ old pre-war shophouses and historical landmarks. Restaurants, cafes, and gift shops are everywhere. Here you can find all sorts of local food like Durian Cendol, Chicken Rice Ball, traditional coffee, and also a variety of souvenirs and trinkets.
Not too far from Jonker Street, you can also find the famous food local dish known as Satay Celup. Every night, especially during the weekend, you will witness people queuing for a bite. Every Friday, Saturday, and Sunday night, Jonker Street will be full of delicious street food, where hawker set up their stalls, stretching over the entire street. You can see a lot of people walking around with snacks and drinks in their hands, you will hear people’s laughter, and you will feel the warmth of the locals.
CHI Triangle's model entails the study of human traffic and populations flows. CHI Triangle focuses its property research on the aspect of the human element – your target tenant. In a heritage location, you may find many supporting properties within a vicinity of three kilometres, where they can help to ensure a good investment and provide a viable return on investment for you as a landlord. As investors, we provide housing solutions to our niche market, and we hope to be rewarded handsomely.
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