Home & Decor (Malaysia) - - Property - text ELAINE DONG pho­tog­ra­phy AN­DREW O/AB­SO­LUTE ART CRE­ATIONS

Mr. Hoo Kim See, Gen­eral Man­ager of Prop­erty De­vel­op­ment for Cen­tral Re­gion of IJM Land Ber­had, has a very pos­i­tive out­look on the prop­erty mar­ket.

“If you look at prop­erty trends, the de­mand is def­i­nitely there,” he says. “Our Malaysian econ­omy is grow­ing, at a GDP of 3% to 5%. Bank loan in­ter­est rates are low, as are fixed de­posit rates. Though buy­ers are cau­tious, they still see value in prop­erty to pre­serve their wealth, to hedge against in­fla­tion.”

The area of Pu­chong started in the late 80s. There has been more than 20 years of growth in the area. Mr Hoo be­lieves that as peo­ple be­come more af­flu­ent, they look for an up­grade. Those who started out in ter­race houses will now want a semi-d or a bun­ga­low. And that is where IJM comes in. They see a lot of po­ten­tial in the lux­ury mar­ket sec­tor in this area. In to­day’s terms, they define the lux­ury mar­ket as any­thing above RM2mil­lion for landed properties, and any­thing above RM1mil­lion for con­do­mini­ums.

When IJM first started de­vel­op­ing in Pu­chong seven years ago, they were one of the first to start with the con­cept of guarded com­mu­ni­ties. “Safety is the main con­cern of all buy­ers. The en­tire La­man Gran­view de­vel­op­ment has 200 units, di­vided into the North and South zones. The South Zone was launched seven years ago, with semi-ds and zero lot bun­ga­lows. Back then, the price for a semi-d was RM800,000 to RM900,000. A zero-lot bun­ga­low cost around RM1.2mil­lion. To­day, the semi-d’s are priced at RM1.5mil­lion, and the ze­rolot bun­ga­lows at RM2mil­lion. So you can see the ap­pre­ci­a­tion in price,” he says.

Cur­rently they are con­cen­trat­ing on 3.5-storey bun­ga­lows, priced from RM3mil­lion. They are cater­ing to chang­ing life­styles, where space is a pre­req­ui­site. “The af­flu­ent are well-trav­elled, and their re­quire­ments are no longer just util­i­tar­ian. For the Al­varez, we have de­signed a 5,400 sq ft built-up space, with six rooms and seven baths. Ev­ery room is de­signed with space in mind. We put the mas­ter bed­room on the en­tire top floow, to max­imise the view as we’re on the high­est point in Pu­chong,” he says.

When asked what he thought of the cool­ing mea­sures in­tro­duced by the govern­ment when it comes to bank loans, Mr Hoo says it is a healthy thing. “Th­ese mea­sures will en­sure things are in the right pro­por­tion. An over­heated prop­erty mar­ket will not sus­tain in the long run, any­way. The prop­erty mar­ket is in good form, and we’re very pos­i­tive.

“When buy­ers buy from a rep­utable de­vel­oper, they can rest as­sured things will be prop­erly de­liv­ered. IJM is very ex­pe­ri­enced in sup­ply chain man­age­ment, which is the way we man­age our costs, sup­pli­ers and man­power. Be­cause of this, we are able to weather through mar­ket volatil­ity, whether it’s the ris­ing cost of ma­te­ri­als, or man­power short­age with cer­tain labour poli­cies. So buy­ers have that ex­tra as­sur­ance with us. For more in­for­ma­tion on IJM Land Ber­hand, go to www. ijm­

top Al­varez at La­man Gran­view, Pu­chong. above Mr Hoo Kim See. right The pri­vate court­yard of the showhome.

left The club­house of­fers stun­ning views of the town­ship and the Ayer Hita For­est Re­serve. be­low The din­ing and liv­ing ar­eas of the show­room.

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