Property projects should be sustainable to last into the future

SHAH ALAM (March 3): The master plan, accessibility and future value appreciation are often taken into consideration in the decision-making of a property buyer today, said Eco World Development Group Bhd divisional general manager Datuk Hoe Mei Ling.

During her presentation entitled “New trends in property development” at the Malaysian Annual Real Estate Convention 2017 (MAREC‘17) today, Hoe said back in the 1970’s, properties were built with simple designs, no facilities and on a smaller scale.

“But today, it is a whole different story. Work-life balance and lifestyle have become more important. Buyers will not only take the house design into the purchase consideration, but also the master plan, accessibility, facilities and the future value appreciation potential,” she said.

She said a developer’s task is not solely focused on catering to current demands but future demands.

“We’re building something for the next two to three years, or even longer. We need to be sure about what the future trends could possibly be like and about a project’s sustainability to make sure it can last into the future,” Hoe said.

While she quipped that she doesn’t have a crystal ball to see the future, she believes there are a few elements, such as accessibility, green spaces, security and a well-planned township, that could contribute to a development’s sustainability.

Organised by the Malaysian Institute of Estate Agents, the theme for MAREC‘17 is “Transforming your real estate business in a changing era”.