Trinity Group Sdn Bhd will launch three new property projects with a gross development value (GDV) of RM640 million for its new financial year, said its managing director Dato’ Neoh Soo Keat.
“A property development project in Seri Kembangan will be the first project that we are going to launch in our new financial year. It will be a mixed development named Zeva and our next few projects will focus on mixed-use development with residential as well as commercial elements,” he told The Malaysian Reserve recently.
He said the company has land in USJ 19, Ampang, Melawati, Serdang and Seri Kembangan, which is near Taman Equine.
On the company’s strategies to counter rising raw material prices and unexpected downturn in the construction and property cycle, Neoh said property prices will remain high due to the increase in land cost, building materials and the rising cost of the processes entailed in property development.
“Innovation is key at times like these. We need to move up the value chain and provide more in terms of product quality, design, facilities and features than what we would have earlier done to lock in sales and to differentiate ourselves in the market place. Neoh said demand for affordable and high-value properties will always be there.
“As such, we just need to come up with the right product with the right price to cater to the unfaltering demand from this group of buyers,” he said.
On how competitive the company’s projects are compared to local developers, Neoh said Trinity Group differentiates itself from other players in the property business by offering stylish living at affordable prices, exemplified by boutique commercial developments such as 19 Residency, Zest Point and Latitude peppered throughout the Klang Valley.
“Offerings and projects by the group display innovative concepts like floating gardens and sky lounges to enable communities to experience luxury living without the anxiety of the price tags,” he said.
He said in the property development business, the product is the most important element in the marketing mix. In order to achieve a strong market position, being aware of the market opportunities and emerging trends in the industry is crucial as well as the practical design and development of projects that cater to the target audience.
“With recent trends serving as a guide, the Malaysian property market in 2011 was fuelled by healthy consumer demand. It is expected that Malaysia’s healthy growth and encouraging domestic initiatives will continue to spur and sustain demand for high- value properties in strategic locations across the country in 2012,” he said.
“Domestic economy in Malaysia remains resilient backed by strong economic fundamentals and the company is seeing continued interest in its property projects, especially the Z Residence which has achieved 85% sales to date.”
On handling risks, such as regulatory and political risk, Neoh said the company maintains a close working relationship with the authorities and the other regulatory bodies and has a feedback channel to constantly provide its views and ideas on industry requirements to these parties before any recommendation or proposal is endorsed to become a national policy or industry guideline. “It is this good collaboration with the authorities and regulatory bodies that result in proactive engagements that allow us to mitigate any regulatory or political risks,” he said.