THE Mitraland group aims to become a boutique developer of niche market properties in prime locations.
As such it is acquiring more prime land and undertaking a branding exercise. It also hopes to stamp its mark with its maiden condominium project, the Kiara 1888.
Mitraland managing director Chuah Theong Yee said the group would focus on Kiara 1888 and its ongoing Serdang Sejati project this year. Work on Serdang Sejati is in full swing and the houses will be handed over this year.
Mitraland strongly believes that developers today need to stand out in order to compete with others. Differentiating the product, high quality workmanship and good customer service are always the most challenging part for a developer and this has always been our priority, he said.
Chuah said many developers had difficulty finding suitable land to develop a township due to the scarcity of land in the Klang Valley and were now looking for smaller plots.
Land in prime locations is expensive and hard to come by and many high-end developers are trying their best to acquire such land.
These are the challenges that Mitraland faces, but we are confident that there will be many landowners who will have joint ventures with us once we have delivered a good product, he said, adding that Mitraland would venture into the condominium market if there were opportunities.
On Kiara 1888's location in Mont' Kiara, Chuah said investing in a condominium unit in Mont' Kiara would never be wrong although some might feel that the area was getting more congested.
This is one of the most sought-after locations not only for its centralised and accessible location, but also because of the standard of living and status that have drawn local and foreign investors. Its rentals and capital appreciation are still as attractive as ever, he said.
Chuah, an engineer by profession, said the group was here to stay.
Every project of ours is seen as crucial for the company. We will not compromise on quality in terms of workmanship, furnishing and timely delivery, said Chuah.
He is very hands-on and believes in offering purchasers value for money through competitive pricing, high quality products and customer services that promote customer satisfaction and loyalty.
This can be achieved with our vast experience in the construction industry and well-established network for material sourcing, he said, adding that house buyers were more sophisticated these days and had their own choice of properties.
However, they should look for a product that can bring them good returns whether it is meant for owner occupation or investment. A good product is not only judged from its attractive facade but also its quality workmanship, finishing and developer's track record to deliver on time, he added.
The group started off with its first bungalow lots project in Bandar Sungai Long in 1999. Since then it has ventured into building double-storey terrace houses, semi-detached houses and bungalows. It is currently building 2½-storey terrace houses in Serdang.
Chuah said the group set a new benchmark price when it sold bungalows priced at over RM1mil each and semi-detached houses at over MM500,000 in Cheras and they were very well received. Its projects include Desa Permai, Taman Makmur, Taman Makmur 2, Taman Seri Minang, Taman Sejati and Taman Sejati 2.
Mitraland is noted for completing projects ahead of schedule and handing over of vacant possessions with the Certificate of Fitness for occupation. Most of its projects were sold out within the first six months of launch. Its construction arm obtained the ISO 9002 last year.