Hong Leong Investment Bank (HLIB) Research expects Malaysian Resources Corporation Bhd's (MRCB) orderbook at about RM2.4bil.
KUALA LUMPUR: Malaysian Resources Corporation Bhd
(MRCB) expects its Sentral Suites project, with a gross development value of RM1.5 billion, to contribute 20 per cent to 30 per cent to sales over a period of four-and-a-half years.
The property developer aims to achieve the target via a partnership with Asia's leading property portal, PropertyGuru, to develop an exclusive digital campaign for the marketing and promotion of Sentral Suites.
MRCB Chief Operating Officer, Kwan Joon Hoe, said the partnership was the first of its kind in the country which involves the setting up of a comprehensive digital marketing campaign.
"Trends and culture of searching have changed over time, and for the property market, we intend to shift that traditional perception of we acquire property.
"It is going to be convenient and I believe it will enhance our marketing strategy," he told a press conference at the partnership signing ceremony here, today.
Kwan said Sentral Suites, located in the Kuala Lumpur Sentral central business district, was slated for launch in the fourth quarter of this year.
"About 80 per cent of the project are expected to be sold within a six-month period, based on the number of registrants we received for the past three months, which was over 2,000," he said.
Contained in three 43-storey towers, the development offers 1,434 apartments and 41 retail units, with built-ups ranging from 651 sq ft to 1,166 sq ft.
The units are priced from RM730,000 to RM1.3 million.
Kwan also said that 30-40 per cent of the entire marketing budget would be allocated for digital marketing.
Meanwhile, PropertyGuru Malaysia's Country Manager, Sheldon Fernandez, said digital marketing plan would appeal to young professionals, young couples and investors, which will be an interactive and engaging experience.
"Using the latest technologies such as drones will be useful as real views at sites from various angles can be taken from different heights which can help the customers in decision-making," he said.
On the outlook of property market next year, Sheldon said it would be moderate but with a better take-up rate.
"But we will have to see what Budget 2017 is like...if there are any stimulus for the market," he said.
He said based on data in the third quarter (Q3) of 2015, Malaysia's house price index had increased to 5.4 per cent, a moderate increase from the typical 10-15 per cent increase every year.
"It has dropped from the annual 7.8 per cent in 2014 and was the lowest increase since Q3 2009.
"Based on this, we see that property prices in Malaysia have never gone down...it is just experiencing a moderate uptrend," Sheldon said. - Bernama
