Malaysia’s high-end property project ‘Malaysia My Second Home (MM2H)’ targets Hong Kong citizens, especially amid the ongoing turmoil, when the residents are keenly looking for more peaceful and stable places to invest in. With no buyers at home front, a courtesy plummeting economy, the Malaysian government is trying to lure rich neighbors, to boost its housing and property industry.

According to the official reports, the Malaysian program, targeting foreigners with deep pockets to make the Southeast Asian nation their second home, has already drawn 251 applications from Hong Kong this year, compared to 193 approved last year.

Housing and Local Government Minister Zuraida Kamaruddin said she would soon propose the idea to Cabinet to officially promote MM2H. She told reporters that it would put the country’s capital-starved housing industry back on track. Kamaruddin added that it would be a win-win situation for Malaysia, as the South Asian nation already has an edge over Hong Kong, where the real estate prices are unbelievably high, for instance, RM3 million for a 250 square feet apartment.

But the plan which sounds all so great, have high odds of going well with the Chinese government. Oh Ei Sun, a senior fellow with the Singapore Institute of International Affairs, said that China might not appreciate such an initiative, especially at the time when the communist nation is battling badly with pro-democracy protests.

Oh, Ei Sun told malaymail, “The granting of MM2H status to Hong Kong buyers may be frowned upon by China in the current Hong Kong political climate.

“Well, it was reported that some Hong Kong residents are seeking residency elsewhere as the tumultuous situation in Hong Kong develops. China understandably would like to encourage Hong Kong residents to be confident about Hong Kong and remain there.” Oh also suggested an option to escape China’s wrath. He said, “There are undoubtedly plenty of high-end unsold units, as our economy is not performing well and… many middle-to-low income earners cannot afford to buy properties. So there is some sort of mismatch of supply and demand here. The government should encourage construction of more affordable housing.”