Tips and thoughts on the way ahead for property development

By Viktor Chong viktorchong@thestar.com.my

(from left) Malaysian Institute of Architects past president on council Ar Haji Saifuddin Ahmad, Institution of Engineers Malaysia council member Ir Dr Wang Hong Kok, Association of Valuers, Property Managers, Estate Agents, Property Consultants in Private Sector (PEPS) president Michael Kong Kok Kee, StarProperty Sdn Bhd assistant general manager Ernest Bernard Towle, Royal Institution of Surveyors Malaysia (RISM) immediate past president Datuk Lau Wai Seang, Malaysian Institute of Interior Designers president Mohamad Faisal Ghazali and Institute of Landscape Architects Malaysia (ILAM) president Associate Prof Dr Suhardi Maulan.

IT was no easy task to determine the cream of the crop. The list of winners was finalised after two days of intense judging and presentations. Developments of all sizes and designs – high-rise, landed and integrated – were subjected to the unbiased scrutiny of seven judges comprising distinctive professionals, prominent stakeholders and leaders in the property market.

At the end of every competition, some will celebrate while others reflect. Here, the judges share with all participants some tips and thoughts regarding property development and the future of the industry. For Malaysian Institute of Architects past-president on council Ar Haji Saifuddin Ahmad, location is a strong factor in determining the success of a development.

Taking affordable housing as an example, he said the key aspect should be integrating with transport systems and facilities. When that is available, the development will be cheaper and more affordable for buyers.

“For any project to be successful, the developer must show commitment by way of leadership,” said Institution of Engineers Malaysia council member Ir Dr Wang Hong Kok. “Those who keep their promises, no matter how bad the market, and survive will be winners.”

According to Malaysian Institute of Interior Designers president Mohamad Faisal Ghazali, developers must study the activities of end-users instead of merely following the current trend.

“Activity-based spaces are very important to the new generation of buyers,” he said, adding that developments should be adaptive to support multi-generational families.

Association of Valuers, Property Managers, Estate Agents, Property Consultants in the Private Sector (PEPS) president Michael Kong Kok Kee believes that human touch goes a long way towards the success of any development.

“A great development should always involve the community, where the residents actively participate to make their home a better place,” he said.

Commenting on the current market, Kong said it is static with little movement and catalysts –which he attributes to a mismatch between demand and supply. “We need to be bold to attract investments, not a flip-flop policy,” he added.

StarProperty Sdn Bhd assistant general manager Ernest Bernard Towle pointed out that there are pockets of developments which are well accepted despite the current market condition.

“For market acceptance, developers must build to the requirements and needs of buyers, not just for the present but for the immediate future,” he said.

Royal Institution of Surveyors Malaysia (RISM) immediate past-president Datuk Lau Wai Seang predicts the emergence of more stratified properties in urban areas.

She sees starter homes for the younger generation becoming smaller as developers compromise on size and introduce innovative designs such as foldable walls and demountable partitions. She reasoned that this category of buyers will not be able to afford higher-priced units.

Institute of Landscape Architects Malaysia (Ilam) president Dr Suhardi Maulan suggests that in moving forward, developers should incorporate technology in such a way that the property itself generates energy.

Such feats can be achieved by using the movement of lifts or the harvesting of people’s footsteps. “The development is independent of the mainstream energy supply, meaning that they have their own energy plant which they can harvest from their development,” added Suhardi.