Turning Dreams Into Reality Beyond Sales, Innovative Outlook
The foundation of Titijaya Land Berhad was helmed by Tan Sri Datuk Lim Soon Peng, two decades ago with a steady mission “To build properties people will buy, appreciate and want to buy again”. The forward mission was carried strongly by the daughter of the conglomerate, Charmaine Lim, who is the only daughter and the executive director of Titijaya Land.
Charmaine, being equally inspired with the company tagline “Built to Inspire”, has a stronghold to continually work on the feedback of all project developments and putting extra effort to be more innovative to deliver satisfaction and information to buyers and investors. She said these are vital signs now as the market has been proving competitive.
“We nurture teamwork among our subordinates and send staff for study trips with the top management, to look into designs, new architectural structures, lifestyle and facilities preferred and suitable especially by the younger generation.”
She said the market growth has been challenging and the purchasers are always cautious, waiting for a stable outlook before they make a move to purchase any properties. Nevertheless, there are buyers who face no issues and are prepared to buy houses even during this period.
As property developers for two cycles now, Titijaya Land has seen the bull and bear in the market. Due to tighter lending criteria, some developers have had lesser launches but she said now, Titijaya Land is concentrating on affordable housing especially targeting first-time home buyers. She is also hoping for a better budget planned by the government to be more favourable towards the developers and buyers.
Titijaya Land has taken different measures to approach the buyers’ market now especially on overall return, the land acquisitions, types of products so that the turnover time can be shortened. This implementation can help to maintain a working timeline and the expected planned launch and handover can be catered to the next generation buyers.
It strives to receive positive feedback from purchasers on quality product designs and facilities through booking and registration listings.
The management has a milestone to shout about especially on growth and improvement via internal study on an integrated software system produced to track the sales and marketing until the stage of handing over the product, which in turn will enable good customer relations and expectations.
Titijaya Land has a few campaigns up its sleeve to boost the confidence of hopeful buyers. Charmaine said: “Recently, we launched a programme called V-Care for first-time home buyers. It features simplified home ownership made easy packages especially on financial support via incentives and rewards.”
A reputable developer always has a forward thinking attitude and helpful nature blended in its projects. In this sense, financial incentives were given to first-time home buyers to close the gap to own properties. Then, they also have incentives for referral cash rewards or buyer-get-buyer programme. Any additional properties purchased under them are also gifted with first, second, third buy special rebates scheme.
Commenting about Park Residency project in Cheras, Charmaine said: “It is a low-density project with only 62 units of three-storey landed strata. Situated on a 26.8ha land and within the gated and guarded vicinity, it is a matured location facing the green landscape.”
Accessibilities to and from Park Residency were made easy via Sistem Lingkaran-Lebuhraya Kajang (SILK), Middle Ring Road 2 (MRR2) and Besraya Highway. The amenities at Park Residency is fascinating with children playground, badminton courts, BBQ pits, gazebo, reflexology path and jogging tracks which amicably coincide with the lush greeneries surrounding the park. The leasehold landed strata are sold at approximately RM1 million each.
“Emporia at Glenmarie, Shah Alam is a sophisticated integrated mix development with hotel, office suites, shopping mall, SOHO Flexi and serviced apartments built with the young home buyers in perspective. It will be convenient, highly accessible, visible and lifestyle will be improved for the surrounding communities.”
“As for 3elements project, located in the border of Sri Kembangan and Puchong South, is a modern and innovative development. From our studies, this mixed features office suites and serviced apartments with a 475-761 sq.ft. build up.
It has a tentatively rental returns projected at RM1,500-RM1,600 and the phase one shop lots with a rental return of approximately RM1,500-RM4,500 while the office suite units sized at 475 sq.ft.are estimated for rental returns at about RM1,300-RM1,600.”
Charmaine continued to express on their land bank strategy which are related to the current market standings also. In 2013, Titijaya Land completed its Initial Public Offering (IPO) to be listed on the main market of Bursa Malaysia Securities Berhad to expand its business. Even though the company is seeing the slowdown in the market, it has not taken any steps backward on landbank replenishment.
“Our current landbank replenishment strategies are mainly on Joint-Venture (JV) basis. This indeed will be able to reduce our holding cost and manage our financial position in a stable and steady pace.”
“With this, we are able to time our property launches according to the market sentiments.”
Consequently, its waterfront project Areca in Penang hasn’t been launched yet but it has an approximately gross development value (GDV) of RM2.5 billion. It boasts of a serene waterfront view and seated right beside the Second Penang Bridge. The mixed development project is open for registration now with four blocks of condominiums and four blocks of offices each sized at 750-1,100 sq.ft.
Recently, Titijaya Land has merged with The Ascott Ltd with a collective GDV of RM4 billion to steer projects in Penang and Shah Alam to give an excellent product take out or deal to their future buyers.
“Most of the lands are going for reclamation. Therefore, it will be tough to see more free lands in the future. We are also looking into foreign investors market too as Penang is well-known for heritage properties, values and multi-cultured, which are the factors largely sought after now.”
STANDING OUT IN AWE
Titijaya Land has trudged deep into their post sales services which deliberately have a strong impact on their sales and marketing strategies. Its services start off digitally in information technology applications set up to cater and monitor as well to give an update to its sales team to capture feedback. This way, a two-way communication portal is established to enable a more efficient customer post sales services.
Communication can be channelled faster straight to the internal master file over which will be able to improve communications, send any messages without interruptions and a workable dateline be given for feedback by their sales, marketing or construction teams. A launch of the tablet handover to buyers via this application is in line with their vision to aspire to be the best, grow rapidly, to mould an excellent team and a winning culture.
Charmaine commented that realistically, banks are stringent on loans approval, that if this is loosened then the load will be lighter for home buyers especially for affordable houses.
She pointed out that they will screen through the loans status and capabilities for the interested buyers. After which, their team would advise accordingly on possible purchase or loans. This will then enhance the efficiency of the sales team and it provides a platform for Titijaya Land to advice for their customers on their property appetite.
“My solid advice is to always buy within one’s capacity. In the past many young investors rushed to purchase many units at a go and got themselves into debt. Although, their plan was proven which is obtaining wealth and assets during the period of property appreciation.”
OTHER BEST TRANSACTIONS
Titijaya Land has some future launches in their pipeline to impress the purchasers especially targeted next year opening with Riveria Sentral at KL in vibrant hotspot KL Sentral. It consists of three towers of office suites, SOHO units, serviced apartments and small retail lots to accommodate the needs of the saturated population. This will be a joint venture project taken with Bina Puri Holdings Berhad and Prasarana Malaysia Berhad.
Notwithstanding, Titijaya Land successfully launched their elite development called Embun & Emery at Kemensah located at the greater side of Kuala Lumpur in Ampang. It’s seated on a freehold land with a built up area of 5.7ha and the selling price range starts at approximately RM1.8 million to RM2.8 million. The four-storey courtyard villas and 2/3 storey semi-detached are a good catch for any avid property investors.
Titijaya Land has been commended largely in the developers’ arena for their effort to give the best to the clients and receiving recognition in return all the time. They are proud to be honoured at Property Insight’s Prestigious Developer Awards (PIPDA) in April and looking forward for its stars to shine brighter next year.
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