Developer to focus on premium-quality products


  • Business
  • Monday, 01 May 2006

A RIGHT mix of residential and commercialproducts, strategic land bank in high growthareas and a well-regarded reputation forquality products have placed IOI PropertiesBhd on a strong earnings path. With plans for more exciting and innovative product offerings, the future looks bright for the company. StarBiz assistant news editor ANGIE NG caught up with IOI Properties director Datuk David Tan to find out what is in-store for the company. 

STARBIZ: What are some of the strategies lined up that will take IOI Properties to its next level of growth? 

Tan: As a township developer, IOI Properties has a wide range of products that can be launched in various market conditions. 

The focus will be in designing well-planned townships with good accessibility to major highways, comprehensive facilities, landscaping and other amenities.  

Focus will be on premium product quality, brand awareness and maintaining a pricing strategy consistent with location, timing, concept and product type. 

Consultants and contractors will be carefully selected and emphasis will be placed on manpower training to provide quality customer services. 

 

StarBiz: What is the company’s focus on market positioning? 

Tan: In developing large townships, a developer is saddled with medium and low-cost housing units. We try to plan and design these types of properties carefully and tastefully to integrate them harmoniously with the more upmarket units without sacrificing the image of the township. 

However, we cannot avoid exclusive upper-class enclaves, as these gated neighbourhoods fetch premium pricing.  

We plan for security and safety at the residential enclaves while promoting vibrancy in the thriving town centre with hypermarkets, shopping malls, sporting facilities and parks. 

While we emphasise on building products that cater to the needs of the various market segments, we have to predict and respond rapidly to the changing market scenario.  

In line with the current trends, we are marketing luxurious bungalows and semi-detached units in exclusive enclaves.  

Exclusivity means smaller number of units in each launch. Customers are very discerning and demand the highest quality in finishes and fittings as well as customer service. 

We have highly trained and motivated staff to cater to the needs of this demanding group of discerning buyers.  

Within our large townships, there is also high demand for shops to cater to the large catchments population and we have done pretty well in this area.  

 

StarBiz: With the growing competition in the market, what are some of the initiatives to identify new opportunities and differentiate the company’s products? 

Tan: We have set out to create greater awareness and vibrancy of our existing townships via community events, family days and carnivals. Such initiatives have enhanced the value and increased the attractiveness of the townships and its sales take-up rates.  

Efforts are also underway to improve the quality of our townships – by enhancing the building of infrastructure, facilities and the environment.  

Bandar Puteri Puchong boasts of the country’s largest indoor badminton court and a 15-acre town park. The latest attraction will be a new 1½-storey wet market complex, Puteri Mart, that will be built on five acres and scheduled for completion end of this year.  

 

StarBiz: How has the response been for the products launched in Bandar Puteri Puchong so far? 

Tan: There are 246 terrace houses under the Nadia and Lilac series with price tags from RM370,000. Upmarket residential properties launched are Eugenia semi-detached houses (62 units) and the recently launched Elyssa bungalows.  

Of the 58 Elyssa bungalows launched recently, 18 have been sold. The sales rate of 30% in 12 days is acceptable.  

The Elyssa bungalows (50' x 100'), fitted with high quality finishes, have a built up area of 4,420 sq ft with 7 bedrooms, 6 bathrooms and 3 living rooms. The fittings include a jacuzzi and smart home system. The design theme is Zen Tropical - for elegance and practicality.  

The bungalows are within a gated and guarded enclave on high grounds facing the vast Ayer Itam Forest Reserve. 

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