KINIBIZ With more businesses adding real estate into their revenue streams as well as outright diversifying their core businesses into property lately, a sense of déjà vu is washing over market observers who noted that such news is reminiscent of what happened before the Asian Financial Crisis (AFC) in the late 1990s.

Back then, there were seemingly endless rounds of new property and construction companies entering the scene, said Pong Teng Siew, Inter-Pacific Research head of research.

“It was a sure sign that the sector was overheated,” said Pong to KiniBiz.

Nearly two decades on, are we seeing the pre-Asian Financial Crisis (AFC) property rush happening again?

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