Audit helps optimise project value

By THE STAR

DEVELOPERS need to constantly review and fine-tune their development and marketing plans and strategies to optimise the project value and ensure project exclusivity and uniqueness.
“There are many projects that are in need of an audit to inject more creativity and reap a higher value from the land,” said Bridge Consultancy Sdn Bhd managing director Terence Saw.

In order not to be stuck with unsold products, developers should rethink their products and go back to the drawing board.

“They should know who their target market is and who they are building for.

“The demographics and psychographics of the buyers should be known in advance and their needs addressed from the project’s conceptual stage,” he added.

To realise the full potential of a particular piece of land, an in-depth analysis on the land must be conducted to ensure that the right products are offered.

“Many times projects failed to generate their optimum value because of wrong products being offered. This has turned into very costly mistakes for some developers,” he said.

Saw said purchasers were becoming more discerning and would consider the whole package before signing on the dotted line.

Besides the right location, they look for exemplary designs, unique concepts, wholesome environment and quality workmanship.

“Instead of just having a roof over their head, buyers are looking for more exclusivity and unique concepts to meet their lifestyle.

“The onus is on the project design and marketing team to come out with the winning formula,” he said.

Saw said developers also have to constantly match the right products to a particular piece of land.

This calls for expertise in product development standards, selling price positioning, target market and marketing activities.

He said there were also developers who have the land but lack the know how to maximise the potential of their land. On the other hand, there are also developers who have the expertise but are land strapped.

Seeing these recurrent problems, Bridge Consultancy is offering a range of strategic marketing solutions to developers and landowners to enhance the value of their land and property projects.

“Industry players looking for superior solutions to further lift their performance are our partners,” Saw said.

The company also trains and guides the sales team to provide effective sales techniques for project launches.

Bridge Consultancy is working with two developers in the Klang Valley to enhance their project values and potential.

According to Saw, Malaysia’s growing attraction as an international real estate hub should be further harnessed with more exciting projects being offered to the market.

The competitive real estate pricing, harmonious multi-racial society and stable Government have contributed to making Malaysia one of the top destinations for many foreign nationals looking to retire here.

“The country is popular among foreigners, especially South Koreans and Japanese, who are comfortable with the local carefree lifestyle and culture.

“The good infrastructure network and of course, the many golf courses, have also been cited as the pulling factors to attract them to our shores.

“It is time industry players work harder to offer more attractive and unique property products to the growing number of high net worth foreign buyers and contribute to a more vibrant real estate market.”

Saw said the Klang Valley, Penang and Johor had become the hot spots for real estate development, with many projects lined up these few years.

“We are excited by the many opportunities in the market today and look forward to grow into a major property solutions provider,” he said.

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