By MAK KUM SHI
makks@thestar.com.my
In spite of the heat, construction work on various projects is ongoing. Workers look to beat the heat with lots of liquids and protective gear.
WHAT are the factors that can contribute to the success of property investment and property development? The answer to this would be very complex, as it would require mastery of the entire spectrum of real estate development, the acquisition of practical experience and theoretical knowledge, and collaboration with professionals with different skill sets.
In Malaysian Real Estate Industry’s Value Creation Strategies, former Malaysian REIT Managers Association honorary secretary James Tee shares his perspectives of the core competencies needed to succeed and excel in the local property industry.
The contents of the book were categorised into 12 chapters, such as the real estate industry in Malaysia, property development, cost management, risk management, branding and marketing, and green buildings.
Case studies of successful developments for high-rise residential property, townships, offices, shopping malls, hotels and convention centres were also cited.
Tee shared that branding and marketing at the company level and also at the property development project level are of paramount importance to attract buyers.
A developer’s reputation is dependent on its past track record and supported by good future prospects. Strong flagship developments create a positive image and brand name for the company. A prominent personality as the face of the company can also provide solid branding.
On the surface, the book appears to be better suited to property developers and real estate industry practitioners, as it contains a substantial amount of information related to property development.
However, the book has been written, edited and published in an academically structured manner that makes the subject on real estate practical and easy to understand. Therefore, this book is also suited to inform investors on a wide spectrum of issues and opportunities related to real estate development.
By understanding the intricacies of real estate development, real estate investors should be able to make better and informed investment decisions, as they evaluate the integrity and reliability of property developers in the Malaysian property market.
This book is definitely a recommended reading resource for investors and practitioners in the real estate industry.
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