Showcasing Sin Hee Yang & CBD Properties in homeownership expo
12 September 2017, Shah Alam – Affordable housing in Malaysia continues to be trend and buzzword among home buyers and property investors nationwide. Sin Hee Yang Property’s very own affordable housing campaign continues with the Bumiputra Homeownership Campaign (“Kempen Pemilikan Rumah Bumiputra”) currently being held at SACC Mall, Shah Alam from 12 – 17 September 2017. This property event is a joint collaboration and smart partnership between Sin Hee Yang Property and CBD Properties, with CBD Properties appointed as the sole authorized dealer cum marketing agent to market & sell Sin Hee Yang properties throughout the 6-day expo. This exposition is also the culmination of Sin Hee Yang’s recent Karnival Perumahan Bumiputra which was held at its show gallery at Bandar Baru Salak Tinggi from 19 – 20 August 2017. The property showcase also featured some signature affordable homes from Sin Hee Yang Property Management such as the upcoming Taman Indah Puteri and Desa Baiduri Indah located in Salak Tinggi, Sepang. Homefinder Malaysia has the rare opportunity to interview two esteemed real estate icons in the local property industry – namely Dato’ Adrian Wang who is the Chief Executive Officer of CBD Properties, and also Mr. Loo Chee Yang who is the Executive Director of Sin Hee Yang Property Group. The following below is a summary or brief excerpt from the interview session.
PIX (L-R): Dato’ Adrian Wang (Chief Executive Officer, CBD Properties), Mr. Loo Chee Yang (Executive Director, Sin Hee Yang Property Group), and Mr. Eddie Tan (Managing Director, TTIEN Media Group) during Sin Hee Yang Property’s Bumiputra Homeownership Campaign Expo at SACC Mall, Shah Alam
What are some of the key properties featured during this event?
Mr. Loo: This event we call it the “Home Ownership Campaign” – a joint venture between Sin Hee Yang and CBD Properties. CBD Properties is our sole marketing agent for this event, and we are bringing four projects to this event. So we have 76 units of single-storey semi-D’s, 20 units of double-storey terrace houses, 10 units of single-storey bungalows, and 10 units of 1.5-storey bungalows. Price ranging from RM450,000 to RM1.1 million; albeit 450k for semi-D’s and double-storey terraces whilst RM1.1mil for 1.5 storey bungalows. All our projects are located at Bandar Baru Salak Tinggi, Kampung Lanjut. For this campaign, we offer some special packages and we target only Bumiputra purchasers. What we are offering at the moment is low-entry home financing whereby purchasers need only fork out RM1,000 downpayment with a 100% loan package exclusively from Bank Simpanan Nasional (BSN) via its Youth Housing Scheme (YHS) home end-financing programme. A special mystery gift also awaits potential home buyers of our properties with additional rebates of up to 10% off the initial purchase price.
What are the unique selling points of the properties in this expo?
Dato’ Wang: When we first collaborate with Sin Hee Yang Property, we were initially surprised that properties were being offered at a rather affordable price of RM400-500k (averaging RM460,000) which is rare nowadays within the growth areas of Klang Valley. As Klang Valley is an actively developing region, many industries are currently moving southside towards the airport. With new and upcoming developments as well as new infrastructure developments such as the MRT, urban expressways, and access roads, connectivity to the city centre is significantly improved – intracity travel or urban commuting is no longer a hassle. Amid all the fanfare surrounding the affordable homes hype, various challenges still exist. Of course, pricing remains a priority for first-time homebuyers and new house purchasers, with entry-level properties beginning from RM500,000. Among the key factors affecting the affordability of homes include the site location, the affordability of homes, and the fully-furnished house concept. User-friendly homes coupled with optimal usability of space, proper home planning, excellent air-ventilation and positive ambience greatly increase the affordability factor. In addition, the surrounding amenities and facilities are abundant or aplenty. For instance shopping malls, retail shops, industrial areas, medical centres, and academic institutions. Such homes are ideal for young couples and big families.
What are your hopes and aspirations for this homeownership expo?
Mr. Loo: Unlike the recent Karnival Perumahan Bumiputra which is catered solely to Bumiputra families, our Bumiputra Homeownership Campaign targets all home buyers and extends to all citizens of Selangor (not only from Salak Tinggi) as well as those residing in the city centre. Accessibility wise, the four projects in question are readily connected via various transportation modes such as ERL or Express Rail Link (“KLIA Transit”) as well as several expressways from Putrajaya towards Kuala Lumpur. Travel time with ERL is a mere 35 mins enroute to the site location. There are also ample amenities such as schools, mosques (for the convenience of the Muslim community), premium outlets, and Xiamen University @ Sunsuria City among others. As such, our homes are definitely viewed as best buys or bargains, as well as an excellent choice of investment that makes perfect business sense.
What is the current perspective of the residential property market in terms of the affordable housing scenario in Malaysia at the moment?
Dato’ Wang: By definition, affordable homes in Malaysia as set forth by the Government’s national housing policy is priced between RM400,000 – 500,000 per residential unit. Although such pricing is attractive, the question of livability still arises. For example, a typical condominium unit with 700 sq. ft. which is priced at RM400k is widely regarded as too small or congested for the average Malaysian family. For houses to be truly affordable, usable areas must also be reasonably spacious. This is especially critical of houses with 3 bedrooms and 2 bathrooms common to most landed homes. There is also the issue of accessibility with amenities and facilities forming the crux of housing affordability. Henceforth, our projects fulfill all the minimum standards, prerequisites or requirements of an affordable home specifically in terms of affordability as well as accessibility.
Mr. Loo: We can definitely help many home buyers to obtain their own homes especially landed houses and also semi-D’s which are the preferred residence of choice for most home purchasers. And if only banking institutions could offer better financial assistance, we would definitely witness greater home ownership among the Malaysian population especially for the future younger generations.
Moving forward from this property showcase, how do you foresee the Malaysian property market as well as the property outlook in 2018?
Dato’ Wang: Amid the continual challenges in the present property market in Malaysia such as the home loan application and affordable housing dilemmas, many property developments are lacking in terms of their unique selling points or niche factors. With the advent of Industry 4.0, it is anticipated that property developers would reinvent themselves to capture the taste & desire of youths in owning a house – meeting the expectations & requirements of young home buyers. For instance, the popularity of electric vehicle has soared quite tremendously over the years and is seen as being an essential part of homes in the immediate or nearby future. Without the relevant or necessary charging stations to complement these homes, it is indeed a conundrum to market such homes let alone sell them to prospective customers. In terms of renumeration, employees with higher salaries and increased benefits may be able to afford better housing for their families let alone to settle for affordable homes. If the status quo in the Malaysian economy persists, it will be an uphill battle for Malaysian families in the future to own an affordable house they can call home. Also, with the lack of occupancy and property glut facing the Malaysian market, it is only logical that the Government attract more foreign direct investment (FDI) into local real estate to spur or stimulate the creation of more jobs in order to maintain the sustainability of local property market in terms of demand & supply.
Mr. Loo: The Malaysian property market is generally getting better and looking more encouraging especially for properties purchases priced below RM500,000. It has been projected that for the second quarter of 2017, the overall confidence level in Malaysian property is gradually recovering as compared to two years ago. Despite the limited land banks and a continuously growing population, the local property market is resilient & strong. Although the general sentiment is still weak & weary, there is still demand for local property. Property purchasers continue to seek out affordable properties and bargain buys from time to time. Perhaps the Government can also introduce some sort of incentive or stimulus package for home buyers to revitalize or reinvigorate the slow & stagnating property market?
With the future of real estate moving towards regional property markets such as ASEAN, what is your impression about doing cross-border trade and business transactions across neighbouring nations?
Dato’ Wang: Definitely a good opportunity for property markets to open up – China’s ‘One Belt, One Road’ (OBOR) initiative is one such excellent example. In fact, local governments throughout the ASEAN region must provide incentives for investors from South-East Asian nations to network, collaborate and work together to add value to the regional property markets. With financial aid or assistance from China, there is added incentive and legitimate reason for doing property trade and business transactions across regional borders. Because of the economic potential & prospect of Chinese investments, other nations outside the region may consider joining or participating too. This regional property network will eventually grow to include countries such as Australia, Canada, USA and also the EU. Another comparative advantage of cross-border trade is infrastructure projects in Malaysia are relatively low-cost and competitively-priced compared to other regional markets. This is also the reason why foreign investors still prefer to do business in Malaysia. Malaysia’s multicultural diversity, political stability and strong & solid economic fundamentals continue to attract or woo international investors from within the region and also worldwide. And Malaysia remains an outstanding option for global investors to trade in properties and real estate.
Mr. Loo: As far as I am concerned, I have yet to possess any property in regional markets let alone the international market. I believe the comments from Dato’ Wang basically sums up what I have wanted to say – so thank you very much.
To conclude the interview, Homefinder Malaysia wish to thank both Mr. Loo Chee Yang and Dato’ Adrian Wang for a fruitful & prosperous interview as well as their insightful ideas & thoughts on various issues pertaining to the expo and the real estate business in general. We also wish them all the best in organizing this event; may the sweet fruits of success bear upon them and good luck in all their future undertakings.
About CBD Properties
Dato’ Adrian Wang is currently the Chief Execuive Officer (CEO) of CBD Properties. Established since 2007, CBD Properties is currently celebrating its 10th year anniversary of its inception. The company has 11 office branches across the nation. Apart from Malaysia, CBD also engages in collaborations and partnerships with agencies in China, Singapore, Australia and Japan. It focuses on project marketing for property developments throughout the country, particularly in the Klang Valley, Seremban, Penang and also Johor Bahru. In addition, CBD is involved in project planning as well as project consultancy works for property developers nationwide, in its quest or mission to add value to local real estate via its services. For more information about CBD Properties, please visit: www.cbd.com.my
About Sin Hee Yang
Mr. Loo Chee Yang is currently the Executive Director of Sin Hee Yang Property Group. Sin Hee Yang is a property development company since 1991 and has over 20 years wealth of experience in the Malaysian real estate industry. With more than 50 projects under its business portfolio, the company has completed more than 2,000 units of residences mainly semi-D’s, landed homes, terrace houses, and commercial offices. Its target market includes development projects in up and coming areas such as Salak Tinggi, Kuala Langat, Klang and also Shah Alam. For more information about Sin Hee Yang, please visit; www.sinheeyanggroup.com
Dato’ Adrian Wang and Mr. Loo Chee Yang in an interview during Bumi Homeownership Campaign Expo