Great ideas stem from fulfilling basic human needs

PETALING JAYA (Sept 30): Improved connectivity, security and comfort of living are the three main factors that homebuyers look forward to when it comes to innovation.

Ideas or new technology cannot be considered successful if they do not meet these needs, said experts related to the building and construction industry.

Japan-based Tange Associates president Paul Tange said at the end of the day, the greatest idea is one that improves the final users’ experience. This applies to architectural design as well as one has to design to suit local needs.

“Design is for the people, innovation is an added value to the product if the buyers can use it to improve their lives,” he said during a panel discussion at the “Future Forward Forum” yesterday.

The one-day forum was organised by Rehda Youth, in partnership with Nippon Paint Malaysia Sdn Bhd. TheEdgeProperty.com was the official media partner.

Themed #Trending: Developing Tomorrow, forum speakers in the morning sessions shared their views about injecting innovative ideas to property developments and products.

The other speakers who took part in the panel discussion moderated by TheEdgeProperty.com managing director and editor-in-chief Au Foong Yee were TA Global (Malaysia) Sdn Bhd CEO Tiah Joo Kim, Thailand-based Sansiri Public Company Ltd vice-president of business development and new business (high-rise) Varangkana Artkarasatapon and Panasonic Malaysia Sdn Bhd general manager of strategic B2B development Tan Chee Hon.

Varangkana concurred with Tange and said innovative ideas should be something that could benefit end-users, such as Tesco HomePlus service — which allows people to scan the QR code on the picture of the poster and directly order groceries to be sent to one’s home.

Innovations are even more crucial in an aging society, she said. “An aging population calls for innovation solution providers and developers to rethink their product design to serve their needs,” she added.

Although innovation could indicate a higher cost to be borne by buyers, Tiah said earnings are important for developers but it doesn’t mean developers will give up on innovation.

“Margins for developers are tight, but we are trying to adopt new technology in planning for new projects, not only to enhance the branding and unique selling points of the property but also to provide better homes for property buyers,” he noted.

Meanwhile, Tan said innovative ideas should consider basic human needs, especially to enhance connectivity and security, such as creating a safe playing and living environment for kids or a conducive environment where people can have a real connection with their neighbours.

“Instead of obsessing on the newest technology, we should look at the ideas or products that really serve basic needs. After all, innovation is a vessel that carries us there,” he added.

Meanwhile, Rehda Youth chairperson Carrie Fong in her welcome remarks noted that the Malaysian market is no longer a local playground as many foreign developers have expanded their footprint to Malaysia and there are also quite a number of local developers venturing overseas.

“As times change, developers need to enhance their projects through innovation ideas or products to enhance their competitiveness. However, innovative doesn’t mean it’s a luxury item for the buyers, it could just be an idea which could benefit the developers while creating more value for buyers,” she said.

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This story first appeared in TheEdgeProperty.com pullout on Sept 30, 2016, which comes with The Edge Financial Daily every Friday. Download TheEdgeProperty.com pullout here for free.