THE market is expected to have a clearer direction this year once the dust caused by the Covid-19 pandemic has settled.
There are signs that the market could see a rebounding effect where buyers, who have been holding back their plans to buy homes, will come back to the market showing increased interest to normalise the curve to pre-Covid-19 levels.
“On the plus side, we are blessed to have an excellent public healthcare system and a Ministry that has really been doing a stellar job in managing this pandemic and hopefully we will have a vaccine very, very soon, ” said Star Media Group chairman Datuk Fu Ah Kiow.
“We must continue to move forward and not halt any effort to make progress, ” he said during the StarProperty Awards 2020: Real Estate Developer event, held for the first time in cyberspace, breaking new grounds.
The ceremony can be viewed at https://youtu.be/dljo4mAM8-U.
Several award-winning developers pointed out that measures were implemented into their projects, taking into consideration that the Covid-19 pandemic had altered the needs of potential buyers.
Paramount Property CEO Beh Chun Chong said conscientious developers are already implementing changes to their developments like proper drop-off and pick-up points due to the increase of food deliveries and better ventilation so home-bound residents will always have fresh air.
“As a people-developer, we are ensuring that all the practicals are designed to suit users’ needs, ” he said.
JL99 Group executive chairman Datuk Seri Jeff BK Lee agreed.
“We are looking at contactless solutions even to the point that the drop-off of delivery personnel need not personally hand over the items to their clients, ” he said.
Instead delivery lockers, where the delivered items can be placed, can be implemented, he said, adding that security codes could be used so customers can collect their items.
Sunway property division deputy managing director Lum Tuck Ming said as the group has more than property development under its wing, it has implemented many standard operating procedures (SOPs) like social distancing, controlling of crowds in malls and santitising of workers’ and security quarters.
“We have formed a crisis management team with the expertise of our health care division who are able to advise us on the necessary measures to manage this Covid-19 pandemic, ” he said.
Meanwhile, master community builder Sunway Group was the biggest winner, bagging nine trophies, followed by Gamuda Land Sdn Bhd, LBS Bina Group Bhd and OSK Property Holdings Bhd, with seven trophies each.
The other two big winners were Mah Sing Group Bhd with six trophies and Malaysian Resources Corp Bhd (MRCB) with five trophies.
Property developers who also won notable awards were Glomac Bhd, IJM Land Bhd, IWajib Group, JL99 Group, LinBaq Holdings Sdn Bhd, Matrix Concepts Group, Paramount Corporation Bhd, Platinum Victory Group, Sime Darby Property Bhd, Sheng Tai International Sdn Bhd, Skyworld Development Group, Sri Pengkalan Binaan Sdn Bhd, Symphony Life Bhd, Tropicana Corp Bhd, UEM Sunrise Bhd, Worldwide Holdings Bhd and YNH Property Bhd.