Plenty of property growth potential in South East Asia
KUCHING: CCCG Overseas Real Estate Pte Ltd (CCCG) director Zhang Bao believes that the growth potential of South East Asia will be enormous in the next 10 years. The global economic growth engine will shift to this region.
However, it depends on the strategies of South East Asian countries to sustain the momentum and grasp the emerging opportunities.
“Malaysia’s property market is the most undervalued in the region, and it has the potential to attract buying interests from all over the world. Malaysia is also called as an “entrepreneurial paradise”, which will then produce a rich community (potential buyers),” he told The Borneo Post.
Zhang also explained that a successful property development must be based on the demand of the locals and the region, it cannot be duplicated directly from the home country of foreign developers.
“Property is a heavy asset which cannot be moved, and the structure cannot be “revised” once built,” he said.
“The pace of every city is different. Hence, you need to align your properties with the local building style.
“If the style is very “futuristic”, it will not be accepted by investors because it does not suit the demand of local buyers.
“At CCCG, we appoint experts to carefully study the environment, market, and the land where the project will be located. We will study the developments within 5km radius around the land we bought, especially on their design, building structure, pricing, and buyers’ demographics.
“We do not simply design our products as per our preference – it has to meet market demand.”
Zhang also said that the way to market property products will vary according to the different markets. In Singapore or Hong Kong, for example, properties should be marketed based on price comparisons with other projects in the locality, prime locations and why the project is better than the properties in an international buyer’s home country.
“Our products were sold globally to buyers from 20 over countries and regions around the world, including the buyers from the US, Italy, Asia and Southeast Asia. By marketing our products to the international market, CCCG will also be promoting Malaysia to a wider range of buyers.
“After CORE Residence at TRX, CCCG aims to target for a new project in the beginning of next year, in the high-end segment in KL.
“We design something that tends to be more practical, especially to Asian buyers. We try to take care the needs of most people, making use of spaces. CCCG prioritises practicality and does not compromise on the design of the building.”