TOP OF THE GAME
THIS DEVELOPER HAS ITS SIGHTS SET HIGH, WITH LUXURY DEVELOPMENTS IN VARIOUS PARTS OF KLANG VALLEY AND PENANG.
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. ijmland.com.
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.