KUALA LUMPUR (April 11): Property developers have to come up with relevant products that meet the expectations of millennials, said Triterra Metropolis Sdn Bhd (Triterra) joint chairman Datuk Seri Michael Yam at a press conference after the signing ceremony between Triterra and Naza TTDI Sdn Bhd today.
"If it was 15 to 20 years ago, you can take your time to get into the market. But what I notice now is that millennials expect changes to be as fast as they change their smartphones, so you need to be really quick and be in time to come up with products that meet their expectations," said Yam, who is also the immediate past president of the Real Estate and Housing Developers’ Association Malaysia.
The signing ceremony saw the two developers form a strategic partnership to jointly develop a corporate office development dubbed The MET Corporate Towers on a 2.47-acre site at KL Metropolis.
Yam added that the turnaround time from design to sales is much quicker now.
However, he added that getting development approval is still a stumbling block for developers as it often takes a long period, thus causing the design of a development to be be outdated when it is ready to kick-start, he noted.