KUALA LUMPUR: Housing developers must stop cutting corners and build a reputation that will not only earn them the recognition of local housebuyers but that of potential clients abroad as well.
Housing and Local Government Minister Datuk Seri Ong Ka Ting said: The housing industry is going through a maturity phase.
Hence, it is equally important that our local developers look to expanding their business beyond Malaysia.
This would enable developers to accumulate experience abroad and help the country earn foreign exchange, he said.
To do so, you must first strive to maintain a very high standard of quality, offering buyers real value for money in order to sustain your business.
Creative marketing strategies will be in vain if a developer were to spoil his reputation by cutting corners or failing to deliver on time, said Ong at an award presentation ceremony to honour Malaysia's top property developers, organised by a business magazine here yesterday.
Never underestimate the power of the housebuyers' testimonial. Always remember that the market is unforgiving, especially in the face of stiff competition, he warned.
Ong said developers must build homes that were market-driven and carry out feasibility studies before embarking on a project to avoid the problem of unsold units.
Build what buyers want, not what you wish to build, he said.
Congratulating the winners, he said: It is no mean task to be a top property developer.
The top 10 winners are Bandar Raya Developments Bhd, Boustead Properties Bhd, IGB Corporation Bhd, IOI Properties Bhd, Island & Peninsular Bhd, MK Land Holdings, Sime UEP Bhd, SP Setia Bhd, Sunway City Bhd and Sunrise Bhd.
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