Building homes for young adults and growing families

TITIJAYA Land Bhd is developing projects targeted at young adults and families or homeowners who are looking at upgrading to bigger homes. “Gen Ys that have joined the workforce for a number of years are looking to purchase a home of their own. Most will be looking for smaller homes in the city or suburban areas that are easily accessible and prefer developments that offer many amenities. I find that this group of homebuyers appreciate eco-friendly and futuristic concepts integrated into the design. The lifestyle of Gen Y homebuyers also revolves around convenience, hence the need for amenities to be close to home,” says Lim Puay Fung, executive director of Titijaya Land.

Affordability is a concern among homebuyers and many will be looking at living outside the city centre. “The country’s public rail transport system keeps improving. As has been seen in neighbouring countries, a rail system and the surrounding property have strong synergies that appeal to homebuyers. The key selling point is ease of transport. An efficient rail transport system gives a young adult the option of buying a home first instead of a car. That said, the composition and price of the development must be right in order to attract buyers,” says Lim.

Titijaya Land is rolling out three projects this year: Bellaville in Ara Damansara, Seri Residence in Shah Alam and Park Residency in Cheras. The latter two are landed properties, featuring two-storey semi-detached houses and three-storey linked villas respectively.

“We have different themes for each development. Water is embedded in the theme for Bellaville. This development targets the younger generation and young families and there are ample amenities in that area. As for our landed property launches, we are offering bigger homes for growing families. These homes are built within gated and guarded environments, thus addressing the need for safety and security,” says Lim.

Titijaya Land’s ongoing projects have a gross development value of RM1.84 billion.

Lim says that company is still looking at acquiring strategically located landbanks. “As a property developer, land is directly correlated to our growth. Current land prices are either staying put or increasing and we will not hesitate to purchase strategic landbank if an opportunity presents itself at a price that is able to maximise shareholder returns. Going forward, our strategy is to embark on more joint ventures. These projects reduce holding costs and there are more resources for the project to be rolled out in a timely manner,” says Lim.

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This article first appeared in the Special Report Mapex Property Showcase, of TheEdgeProperty.com, on May 6, 2016. Download free copies of TheEdgeProperty.com here.