Ayer sees improved demand in H2

KUALA LUMPUR: Real estate developer Ayer Holdings Bhd, formerly known as TAHPS Group Bhd, expects property demand to rebound in the second half of this year on better consumer sentiment and economic growth.

Group chief executive officer Eugene Khoo said the country’s gross domestic product (GDP) performance was on track and would translate to consumer confidence, thus enabling the company to promote big-ticket purchases such as home ownership.

“The property market is (currently) looking at consolidation because there are many unsold stocks being carried by developers.

“Thus, developers need to be smart in launching new projects, taking into account demand for the right product, location and pricing,” he said after the Ayer Holdings rebranding launch in Puchong yesterday.

Khoo is also expecting consolidations in the property industry this year, adding that it would enable the smaller players to compete within a softer market this year.

“Consolidation is good for the industry as it will weed out the less serious players and the more established players will be here to stay and this is good for the market.

“Serious developers will give more credibility to projects that are under construction and carry less risk of incomplete projects,” he said.

The company, through its property arm Bukit Hitam Development Sdn Bhd, also plans to launch affordable landed and high-rise homes in the Bukit Puchong vicinity.

Khoo said the company also aimed to collaborate with healthcare and education providers to join in the development of its townships.

On the rebranding of the group, Khoo said it was an important step for the group for the masses to identify it as a real estate brand.