If you can create the ideal Malaysian real estate environment, what would it be? I will put everything high rise. Then I would be able to have a lot of open space and I would be able to put a lot of trees and do a lot of landscaping and so on.
Bestowed the Property Man of the Year 2010, Dato’ Alan Tong Kok Mau, Group Chairman of Bukit Kiara Properties Sdn Bhd, stands out as a far-sighted entrepreneur, outstanding and exceptional marked by his distinguished contributions to the real estate development and society.
Fifty years in property development, he is being recognized for having good reputation in business ethics. And many would come to agree he has a matchless vigor and tenacity that many cannot rival.
“Realistically speaking, if you want your city to be a world-class city, and one that is efficient and up-market looking, you have no choice but to focus on high density development. That way, you don’t crowd the city with too many vehicles and take two hours to get to work.”
The conventional housing estates which are spread sideways was initially thought to be able to ease traffic congestion. But clearly now, “it’s a contradiction.”
Real estate and public transportation should go hand-in-hand. In fact, that is how some cities have done it – world class cities, they are called.
He believes that when everything is in high rise, the public transportation will follow, one that is more economical and efficient. People in Hong Kong can reach their work place or wherever they wanted to be within the city in less than an hour or even 30 minutes. Ridership will not be an issue as the volume will be supported by the mass of people up in the sky, logically he explains.
An ideal real estate would also mean a city is global in nature. While the government recognizes the advantages of foreign investments and purchases by them as a form of foreign investment, setting a floor price for them at RM500,000 and above is a good strategy to ensure that Malaysians are being taken care of, which he further compares that even some countries are struggling to follow.
Tours to some of the best estates overseas brought about by his FIABCI involvement have greatly enriched his perspectives of what we have here in Malaysia, “And I am of the view that we are comparable to any around the world.
“If we want the world’s best, we can do it. But the limiting factor is this, how many people can afford it?”
But if you compare value for money, Malaysia is very fortunate as we are getting the best with the least amount of money, he quips. “Our real estate prices are one of the cheapest, not only in South East Asia but also in the world.”
What is your ideal Malaysian real estate?
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