Giving the thumbs-up to the revitalisation of Skyline Embassy are (from left) Lok, Teh, Ow, Norsazila, Aiman Athirah, Law, Amzari, Kwa, Choong and Ikram.
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KUALA LUMPUR: The Ministry of Housing and Local Government (KPKT) recently paid a special work visit to Skyline Embassy to study TSLAW Land's strategy in managing the project takeover and their handling of existing purchasers' concerns.
The visit focused on understanding TSLAW Land's successful revitalisation of what was previously a troubled project by Agile Property Development Sdn Bhd, now transformed into a thriving development with an impressive 80% take-up rate. TSLAW Group took over the project in November 2023.
The entourage included Deputy Housing and Local Government Minister Datuk Aiman Athirah Sabu and her senior officers, National Housing Department deputy director-general Norsazila Nordin as well as Kuala Lumpur City Hall’s (DBKL) infrastructure planning department director Siti Hanim Abd Rahman.
Also present at the work visit were TSLaw Group deputy chief executive officer William Ow, business development head Lok Beng Seong, senior general manager Adrian Kwa and executive director office’s advisor Teh Heng Chong as well as KPKT license department director Amzari Azemi and senior assistant director Choong Jeng Haur and the deputy minister’s senior private secretary Ikram.
Skyline Embassy, the third project under TSLAW Land's renowned Skyline series, has emerged as a model case study for successful project turnarounds in Malaysia's property development sector.
Law briefing Aiman Athirah, Siti Hanim and the entourage on the project in front of scale model.
During the briefing, TSLAW Land executive director Law Wai Cheong said: "When we took over Skyline Embassy, our primary focus was to protect the interests of existing purchasers while ensuring the project's viability. Our team worked tirelessly to streamline the takeover process, address purchasers' concerns, and implement robust project management systems that have culminated in today's success. I’m proud that my team took only eight months to relaunch the project.”
The successful turnaround of Skyline Embassy demonstrates the importance of having developers who are capable of stepping in to revitalise troubled projects, said Aiman Athirah. "TSLAW Land's efficient handling of the takeover process and their ability to restore purchaser confidence serves as an exemplary model for similar cases in the future. We hope to see less troubled projects in time to come,” she said.
The project's 80% take-up rate during its private preview in August 2024 stands as testament to the market's renewed confidence in the development. Located in Kuala Lumpur's prestigious Embassy Row, Skyline Embassy now represents a prime example of how strategic project revitalisation can create value for all stakeholders.
The development's transit-oriented features, contemporary design, urban and luxury lifestyle offerings have further contributed to its successful turnaround, making it an attractive proposition for both existing and new purchasers.
Following the site visit, TSLAW Land will continue to work closely with KPKT to share insights and best practices in project developments, contributing to the ministry's efforts in enhancement of Malaysia’s local housing development needs.
Law providing the updates on the project during the briefing session.
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