Evolving Malaysian property market rises above generational and economic hurdles

Malaysia’s rapidly urbanising property industry has endured several challenges within the last couple of years, including bottoming out prices and market consolidation, but it has continued to be a preferred investment destination. Consumer sentiment has largely remained positive with intention to invest in property in the coming months, according to a 2018 survey conducted by leading property portal PropertyGuru.com.my, thanks to accessible housing loans and available stock of high-calibre properties across the country.

Developers are keeping up with changing consumer demand and producing more projects aimed at the mass market segment, and leaning towards a high-earning, younger workforce that is enjoying the benefits of an improving Malaysian economy.

Property builders are also expanding outside the usual investment zones of Greater Kuala Lumpur (where transit-oriented developments in central business districts have become popular in recent years with the ever-growing middle class), Iskandar and Penang, giving the spotlight to several emerging residential hotspots.

“Malaysia remains one of the most dynamic property markets in the region and despite political and economic challenges, high quality real estate projects continue to launch and complete around the country each year,” says Jules Kay, who recently joined PropertyGuru Group as Business Director of its industry leading brand, ‘Asia Property Awards’, widely considered Asia’s largest and most respected real estate awards series that recognises and promotes excellence in development, design and innovation.

Increasingly competitive categories

Acknowledging the evolution of Malaysia’s property landscape, the PropertyGuru Asia Property Awards (Malaysia) programme introduced Best Mass Market Development categories in 2017; they defined the last two editions of the prestigious awards series, with LBS Bina Group Berhad, known for its affordable developments, winning the top prize in 2018. The increasingly competitive mass market categories have received huge attention from developers and presented property-seekers with trusted recommendations that bear PropertyGuru’s stamp of approval.

“Malaysia is a very important core market for PropertyGuru and we are delighted to organise the sixth edition of the Awards this year,” says Kay. “Presented by global brand Kohler and judged by a respected panel of industry experts, the PropertyGuru Asia Property Awards (Malaysia) has become a respected industry event that recognises Malaysia’s diverse and innovative property and construction sectors.

“The Awards not only highlight the country’s best developers but also showcase quality and innovation in the Malaysian real estate industry as a whole,” notes Kay. Previous winners in the developer categories include Sime Darby Property, Mah Sing Group, Bon Estates, and Tropicana Corporation. Meanwhile, recipients of the Malaysia Real Estate Personality of the Year award include top names such as Mitraland Group’s Chuah Theong Yee, Pacific Star Development’s Glen Chan, UEM Sunrise Berhad’s Anwar Syahrin Abdul Ajib, and Sime Darby Property’s Dato’ Seri Abd Wahab Maskan.

The search is on

The sixth annual edition is currently accepting submissions until 1 March to nominate the year’s best property developers, projects and design in Klang Valley, Penang and Iskandar, as well as the exciting destinations of Ipoh, Kota Kinabalu, and Melaka.

Open categories include Best Condo, Best Landed, Best Township, Best Mass Market, and Best Mixed Use Development. There are also special award categories for Corporate Social Responsibility (CSR) and Sustainable Development, as well as Public Facility, which is open to facilities or infrastructure projects spearheaded by the public sector.

“Nominations are open to the industry and the public. We have already received a significant number of eligible entries from developers around the country. Our panel of expert industry judges will conduct supervised site inspections in March –– an extremely important aspect of our awards system,” adds Kay, noting the earned reputation of the Asia Property Awards as fair, ethical and transparent.

Malaysia’s most prestigious property honours will be presented at the exclusive awards gala dinner on Friday, 12 April 2019 at the Majestic Hotel Kuala Lumpur, a part of a national heritage site in Malaysia’s capital.

The 6th PropertyGuru Asia Property Awards (Malaysia) is supported by PropertyGuru.com.my, Malaysia’s leading property site; official magazine PropertyGuru Property Report; media partner Top 10 of Asia; and official supervisor BDO. The independent judging panel is chaired by returning head judge Prem Kumar, executive director of Jones Lang Wootton.

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