IN today’s competitive environment, it is not easy for any property developer to leave a mark.
As the cost of raw materials continue to rise, most property developers — even big ones — are struggling to keep the prices for their offerings affordable.
A rising star of the Malaysian property sector, Orando Holdings Sdn Bhd today is a force to be reckoned with.
Orando Holdings started out as a small business venture 11 years ago with four units of semi-detached homes in Old Klang Road’s Taman Yarl. The company followed that with a row of landed homes in Taman Sri Angkasa, Puchong.
Those developments gave the contractor-turned developer confidence to try out their first high-rise and it was an immediate success.
Vistaria Residensi in Cheras, a 21-storey condominium, was 100% sold within days of its launch and was completed six months ahead of schedule.
Located in Taman Kobena, Cheras, Vistaria, a project worth RM44.5mil in gross development value, sits on two acres of leasehold land and was sold out within two days after its launch
This was mainly due to the project’s prime location which offered a charming hill view in a tranquil environment, with comprehensive public transport and amenities.
Vistaria features 128 condo units with built-up areas starting from 1,315 sq ft and was handed over in July 2011.
Recent transactions reveal that the prices of the units have more than doubled to around RM680,000 from when they were first unveiled in 2009.
The developer launched its second condominium project — Sky Vista Residensi — in the same township two years later and it was also an instant hit.
With units ranging from 1,450 sq ft to 1,700 sq ft, all 206 units spread across two blocks were sold out within a week of the launch.
“I always believe in quality homes that provide a great lifestyle,” said Orando Holdings managing director Datuk Eng Wei Chun.
“Our slogan is Building homes of Swiss-watch standard. As we all know, Swiss-made watches are superbly made and add a touch of elegance and class to our wrists. That is our benchmark for homes,” Eng declares.
Having started his career as a quantity surveyor before forming Orando a decade ago with the late Indonesian businessman Atun Susila, Eng was very familiar with the high standards required to ensure a project’s success.
Eng did not have it easy while rising up the ranks of property developers but he remained resilient — a trait he picked up from his father.
The senior Eng owned a lucrative timber trading business and it was a common sight to see customers, who were mainly contractors, arriving in fancy cars.
Determined to be as successful as his father’s customers, Eng started out at Syarikat Pembinaan Setia, then a pure construction firm at the age of 22.
Having learnt the ropes for approximately six years, Eng
ventured out on his own and
landed a RM1mil contract for waterworks.
Following the success, Eng then sold his company to listed builder PJI Holdings Bhd and that is when he gave property development serious thought. With seed capital of RM1mil, Eng started Orando Holdings.
“The Malaysian property sector is always vibrant. There are plenty of great concepts and opportunities,” Eng says.
“Properties in Malaysia are still among the cheapest in the region. We have a young population and the government is also doing all it can to help the industry grow. The property sector in Malaysia has a bright future,” he added.
Building for the future
Eng can be said to be the King Midas of the property world in Malaysia. Every project seems to turn into gold and most of his customers are happy.
This is mainly because of his stringent ownership policy when it comes to Orando Holdings’ project.
“Anybody that wants to buy a home with us has to go through
an interview session. We talk to them to find out why are they
buying this property.
“It could be for investment or for them to start their own family. We have policies in place to protect the value of our properties. That is why all our previous projects are very successful,” said Eng.
Banking on the same principles, Orando Holdings will be
launching a brand new property in Segambut, Kuala Lumpur next month.
“This will be the first high-rise development in Malaysia with each unit having its own multipurpose yard,” said Eng.
Called Villa Crystal, the development will feature two 38-storey blocks with residential 414 units in total.
“This will be a freehold developmentand it will be completed in three years,” he added.
Villa Crystal will boast a three-tier security system with key card access and each block will have its own entrance. Orando Holdings is also looking at the area’s traffic system to ensure our buyers are completely satisfied.
“Property buyers are very smart. They know a good property when they see one.
“This keeps us on our toes and we don’t mind going the extra mile to keep them happy,” Eng says.